- Bitcoin Treasury companies wore around $ 12.7 billion in outstanding debts, with strategy good for $ 8.2 billion.
- Alex Thorn from Galaxy has rejected recent inflated worries and stated that their debt will mature in two years.
Galaxy Digital has the worries that Bitcoin [BTC] The debt burglars of the treasury companies could activate the next bear market phase.
In an X (formerly Twitter) after On Wednesday, Galaxy’s main examination, Alex Thorn, said that the worries about the debt are ‘exaggerated’.
“I know that some people are worried about the Bitcoin Treasury companies and their debt will be a problem, but for now we think those fears are exaggerated.”
He added that the issue was not a problem now, because most due date of the debt will start from 2027.
Source: Galaxy
BTC Treasury firms’ $ 12.7 billion debt
In particular, most analysts have marked the strategy of Michael Saylor (formerly micro strategy) as a risk factor, given the observed massive debt that is used to acquire its 580.9k BTC companies.
Strategy, in addition to other public companies such as Mara, is in particular 3.65% of the total BTC offer, which underlines market risks in case they go bankrupt.
By one userThe companies could activate the next bear market.
“Bitcoin Treasury companies will not prevent any other bear market; they are the reason that it will happen again.”
There has been a discussion that the companies can help reduce the impact of the next massive BTC recording. Bernstein -analysts recently in fact projected That these companies can send the intake of +330 billion to the active in 2029.
But others doubted whether the new strategy Copy cats could survive a bear market. Max Keizer, BTC advisor of El Salvador’s Nayib Bukele, even said”
“Saylor never sold and kept buying, even when his BTC position was under water. It is foolish to think that the new Bitcoin treasury -strategy -clones will have the same discipline.”
A similar caution was shared by Standard Chartered’s Head of Digital Assets Research, Geoffrey Kendrick. In a letter to customers this week he wrote,
“Bitcoin treasuries contribute to Bitcoin buying pressure for now, but we see a risk that this can reverse this over time … they can become a source of downward price pressure and volatility.”
Galaxy Digital’s report Recognized the fault issue by Treasury companies, in particular strategy.
“From 27 May there was at least $ 12,703 billion in outstanding debts from Bitcoin Treasury companies. Strategy has the most outstanding debt at $ 8.214 billion, accounting for 64.66% of the outstanding debt.”
However, the report claimed that the fault of most strategy ripens in 2027-2030 and should not be a problem in the medium term.