In a thought-provoking post on X, Charles Edwards, founder of Capriole Investments, has issued a stark warning regarding the Bitcoin Digital Asset Treasury (DAT) firms. Drawing parallels to the investment trusts of the 1920s, he cautions that the explosive growth of these entities may set the stage for a potential market crash. The study highlights an alarming trend: the rapid accumulation of Bitcoin by these firms could lead to significant volatility in the market.
Отсутствие жизнеспособной бизнес-модели
Edwards argues that the current landscape lacks a viable business model for generating yield on a fixed supply asset like Bitcoin. This absence of sustainability could lead to increased leverage among investors, heightening the risk of a catastrophic collapse. He points to the recent failures of LUNA and FTX as cautionary tales, suggesting that the crypto market could face similar turmoil if these trends continue unchecked.
Опасения аналитиков рынка
The founder's insights resonate with concerns among market analysts who fear that the unchecked expansion of DAT firms may create a bubble. As the crypto market evolves, the need for robust risk management and sustainable practices becomes increasingly critical to prevent a repeat of past mistakes.
As corporate Ether treasury firms face significant unrealized losses amid declining prices, the challenges they encounter contrast sharply with the warnings issued by Charles Edwards regarding Bitcoin DAT firms. For more details, see this article.
