The Bitcoin treasury model is breaking, but Strategy’s isn’t. Here’s why
As Bitcoin treasury bets stumble in 2025, Strategy thrives with disciplined capital, mNAV premiums and long-term focus.
By 2025, the Bitcoin treasury model has reached critical mass. Over 250 organizations, including public companies, private firms, ETFs and pension funds, now hold BTC on their balance sheets.
The Bitcoin (BTC) treasury model trend was ignited by Michael Saylor’s Bitcoin plan, with Strategy pioneering the use of Bitcoin as a corporate reserve asset in 2020.
