Investors are starting to take a more careful approach when looking at companies that hold Bitcoin
$107,883.22
on their balance sheets.
During an interview with CNBC on October 16, David Bailey, CEO of KindlyMD, stated that the excitement around firms collecting large amounts of Bitcoin is slowing down.
Currently, 205 publicly traded companies worldwide hold Bitcoin as part of their strategy. However, in recent months, many have seen the value of their holdings drop.
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Bailey explained that investors are paying closer attention to how each company operates, not just whether it owns Bitcoin. He noted that launching a new treasury business without a distinct strategy is no longer enough to attract interest.
Bailey said the market has matured. He told CNBC:
It’s learning how to evaluate which companies offer something different.
Simply copying what others have done no longer works. He added, “There’s only so much room for businesses doing exactly the same thing”.
He explained that times of market excitement often bring a mix of good and poor-quality companies. To stand out, firms need to take different paths, such as focusing on less-served international regions, targeting specific types of assets, or building businesses that produce steady income.
He also pointed to examples like Michael Saylor’s focus on credit markets as a way companies can offer something new.
On October 14, Elon Musk shared his thoughts on how Bitcoin can act as a hedge against inflation. What did he say? Read the full story.
