The crypto treasury trend may be losing momentum
Companies that switched their business focus to holding digital currencies are now using borrowed money to buy back their own shares, suggesting the “crypto treasury” trend may be falling apart.
Businesses ranging from online gaming firms to golf cart makers changed their strategies to purchase cryptocurrencies just two months ago. Now these same companies are trying to boost their falling stock prices through share buybacks. Some are even taking on debt to pay for these stock purchases.
Seven companies have made these moves in recent weeks. Five of them now have stock values lower than what their cryptocurrency holdings are worth. Investors are getting worried about too many companies doing the same thing and questioning…
