The market capitalization of public companies holding cryptocurrencies in their portfolios has reached $160 billion. This is a significant increase compared to approximately $90 billion at the beginning of 2024.
This is reported by Finway
New Approaches to Investment and Asset Management
The active interest of investors in cryptocurrencies is reflected not only in the price dynamics of digital assets but also in the growth of the capitalization of companies that hold such assets in their treasuries. More and more investors prefer to invest in cryptocurrencies indirectly—by purchasing shares of companies with blockchain assets. This creates additional demand for the securities of these firms and stimulates the development of the crypto treasury sector.
“The growth over the past six months reflects changes in approaches to corporate asset management,” analysts noted.
Cryptocurrencies are increasingly recognized as a legitimate asset within corporate balance sheets. Announcements regarding the establishment of crypto treasuries are often accompanied by a sharp increase in the stock prices of the respective companies.
New Opportunities for Large Token Holders
One of the key indicators for evaluating such companies is mNAV (multiple of net asset value), defined as the ratio of the enterprise value to the net value of the tokens. Although many public companies with crypto assets trade at a premium to mNAV, this does not always indicate a real advantage, as speculative activity often influences prices. The premium generally reflects confidence in the professional management of digital assets and the institutional legitimacy of the companies.
Crypto treasury companies are opening new ways for large token holders (so-called whales) to exit positions without significantly impacting market prices. Instead of direct sales on exchanges, which typically cause price fluctuations, whales can exchange tokens for shares of crypto treasury companies. After that, the shares are sold through traditional financial markets, providing higher liquidity and more stable price dynamics.
This approach supports the concept of a “diversified treasury” and avoids the negative effect of mass token sales. It addresses liquidity issues in the crypto market and creates new instruments at the intersection of traditional finance and Web3 technologies.
However, the stability of the market valuation of crypto treasury companies in the future will depend on the effectiveness of asset management strategies and the performance of the underlying crypto assets.
It was previously reported that the total market capitalization of the crypto market exceeded $4 trillion.
