What crypto treasuries must do to survive as the hype dies
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The crypto treasury boom is entering its first true stress test. After a year of runaway enthusiasm, the shares of several crypto treasury vehicles are now trading below the value of their own holdings.
Summary
- The buy-and-hold DAT model is breaking — falling mNAVs signal that markets no longer reward passive accumulation or hype-driven treasury strategies.
- Survival requires productive capital, not idle assets — successful crypto treasuries must stake, operate…
