Digital asset treasury companies have mostly lagged the cryptocurrencies they hold, with only four of the 20 largest trading above the value of their token reserves, according to a new analysis by DWF Ventures.
Summary
- Only four of the top 20 digital asset treasuries by assets under management trade at a premium to their crypto holdings.
- Most of the companies studied have underperformed their underlying tokens since adopting a treasury strategy.
- Some treasury stocks beat their tokens by 15% to 40% over a recent period of less than three months, as discounts to asset value narrowed.
- The analysis says financing terms, operating income and management decisions now matter more…
