The State of Bitcoin Treasury Critique
The Breakdown13 Juli 2025

The State of Bitcoin Treasury Critique

On today's Long Read Sunday, NLW explores two critiques of the growing phenomenon of Bitcoin treasury companies. First, Bloomberg columnist Lionel Laurent argues that corporate Bitcoin purchases signal a frothy market frenzy reminiscent of past speculative bubbles. Then, K33’s Torbjørn Bull Jenssen warns that without an actual operational strategy beyond simply buying Bitcoin, these companies' market premiums are doomed to collapse. NLW dissects where these critiques land—and where they miss the mark—in a thoughtful discussion about the real financial engineering at play and what might come next for Bitcoin treasury firms. Sources: https://www.coindesk.com/opinion/2025/07/07/without-operational-alpha-bitcoin-treasury-company-premiums-will-collapse https://www.bloomberg.com/opinion/articles/2025-07-09/bitcoin-buying-and-coffee-are-too-frothy-a-mix?sref=qUxVp6JU Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/@TheBreakdownBW Subscribe to the newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blockworks.co/newsletter/thebreakdown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownBW

Avsnitt(2052)

Should the Government Have A Say In Where You Invest?

Should the Government Have A Say In Where You Invest?

Accredited investor laws block most of the US out of technology and other types of early stage risk investing, but as the ICO boom showed, not being allowed to do something doesn’t mean that people do...

20 Dec 201921min

“Stacking Sats” vs. “ETH is Money” - The Memes That Shaped 2019

“Stacking Sats” vs. “ETH is Money” - The Memes That Shaped 2019

From “digital gold” to “stacking sats” to “ETH is money,” 2019 was a year of narrative battlegrounds and meme warfare. And when every narrative is competing for scarce resources and attention, things ...

18 Dec 201923min

Productizing bitcoin maximalism and the emergent of "digital assets not blockchain"

Productizing bitcoin maximalism and the emergent of "digital assets not blockchain"

More crypto businesses are transitioning to or choosing to focus exclusively on bitcoin only from the beginning, in some ways representing a productization of bitcoin maximalism. In China, however, th...

17 Dec 201918min

Authoritarian Airdrops, Derivative Competitions, and Lightning at the Point of Sale

Authoritarian Airdrops, Derivative Competitions, and Lightning at the Point of Sale

If 2019 saw bitcoin come together around the digital gold/digital SoV narrative, is 2020 poised for a resurgence of the idea of payments utility, thanks to Lightning powered applications? One beta tes...

16 Dec 201917min

The ECB Gets In On Stablecoins, 2017 Token Projects Resurface & Twitter Debates: Is Crypto For Criminals?

The ECB Gets In On Stablecoins, 2017 Token Projects Resurface & Twitter Debates: Is Crypto For Criminals?

European Central Bank President Christine Lagarde’s comments on stable coins flew around crypto Twitter yesterday, as she said projects in the space indicated clear demand (even while slighting bitcoi...

13 Dec 201920min

Regulatory smackdown, DeFi on Bitcoin, and Jack Dorsey’s protocol dreams

Regulatory smackdown, DeFi on Bitcoin, and Jack Dorsey’s protocol dreams

The last few days have seen significant regulatory action, from SEC charging Shopin’s CEO with fraud over a $42m ICO to a major coordinated federal action against a $722m crypto Ponzi scheme. Over in ...

12 Dec 201922min

Narrative Watch: The Tokenization Saga Continues

Narrative Watch: The Tokenization Saga Continues

Three stories about tokenization today: ShapeShift launching FOX (an exchange token); BlockTV launching a token for media contributions; Satoshi's Treasure helping Tezos distribute tokens through game...

20 Nov 201926min

Multi-Collateral DAI goes live / Not so privacy coins / Crypto fundraising & M&A

Multi-Collateral DAI goes live / Not so privacy coins / Crypto fundraising & M&A

After a huge amount of work, MakerDAO's multi-collateral DAI is live. Only one new token (Brave's BAT) is in the ecosystem, but it heralds the beginning of a new era. In the world of privacy coins, th...

19 Nov 201916min

Populärt inom Business & ekonomi

framgangspodden
varvet
rss-jossan-nina
svd-tech-brief
rss-svart-marknad
rss-borsens-finest
badfluence
uppgang-och-fall
avanzapodden
bathina-en-podcast
fill-or-kill
rss-dagen-med-di
rss-inga-dumma-fragor-om-pengar
rikatillsammans-om-privatekonomi-rikedom-i-livet
lastbilspodden
rss-kort-lang-analyspodden-fran-di
borsmorgon
tabberaset
bilar-med-sladd
24fragor