Bitcoin Treasury Strategy: Why Companies Are Treating BTC as Corporate Cash
From Strategy's dividend playbook to Bitcoin Japan's $60M raise, companies are treating Bitcoin as treasury reserves — but the messy reality of selling volatile assets to fund obligations reveals the gap between thesis and execution.
The Announcement
Strategy (formerly MicroStrategy) has been making headlines again, but this time it's not just about buying more Bitcoin. The company has begun selling portions of its massive Bitcoin holdings to fund preferred dividends, while simultaneously launching a new "BTC Monetization Program" and continuing to issue stock. According to Yahoo Canada, Strategy stock sits on a 113.3% gain over three years despite a punishing recent year. Meanwhile, in Japan, a company called Bitcoin...