Glassnode’s James Check Warns Bitcoin Treasury Boom Could Be Short-Lived

Glassnode, head analyst James Check, has worked concerns about the longevity of the corporate Bitcoin Treasury strategy and claims that easy profits can be gone for the new participants, as the market matures.

“My instinct is a bitcoin treasury strategy that has a much shorter lifetime than most expects,” check said in Friday VX postWarning that many recent companies that jump into Bitcoin reserves could try to keep interest or justify bonuses.

“For many new participants, it could have ended,” he added.

Early bitcoin cash registers thrive when newcomers face the battle uphill

Check argued that while the first adoptors, such as Michael Sayl’s strategy, which have almost 600,000 BTC, have consolidated their leadership, the new cash register firm is facing a steeper climb.

“No one wants 50. The treasury company,” he said, warning that investors are increasingly expecting clear differentiation, rather than another company that adds bitcoins to his balance sheet.

“I think we are close to the” Show Me “phase, where it will be increasingly difficult for a random X -Society to keep the bonus and get out of the ground without a serious niche,” Check said.

My instinct is that the Bitcoin Treasury strategy has a much shorter life than most expects, and for many new participants it may have been over.

It is not a measuring competition.

The point is how serious and sustainable your product and strategy to maintain accumulation.

– _checkmate (@_Checkmatey_) 4th July 2025

Despite the recent Bitcoins rally, 4% from the historic maximum, the control indicated that the growing number of bitcoin cash registers risk the market saturation.

Bitcointreasuries data show that at least 21 new entities have only added BTC Holdings in the last month.

The check emphasized that speculative retail investors can penetrate these newcomers, but stressed that “they do not have endless money” to support dozens of copying that chase the same strategy.

He noted that larger and established companies such as strategies have more time to prove their work compared to LATECOMERS.

The co -founder of Udi Wizardheimer, who gave off his concerns, said that many startups entering the Bitcoin Ministry of Finance seem to be motivated by short -term profits rather than long -term beliefs.

“Many people who collect just see easy money and don’t know what they are doing,” Wizardheimer said.

He added that weaker players can eventually be obtained with a discount of stronger companies, although they believe that the trend would still see “a few more legs”.

No one wants 50.

I think we are close to the “Show Me” phase, where it will be increasingly difficult for a random X to keep the bonus and step out of the country without a serious niche.

Retail speculators buy TCO startup and do not have …

– _checkmate (@_Checkmatey_) 4th July 2025

Doubts grow over the long -term viability of the bitcoin strategy

Skepticism around the sustainability of the trend of bitcoin cash registers is growing.

Breed, the company of risk capital, warned in report on June 29 that only a few bitcoin treasury companies were likely to survive in the long term without getting into the “spiral of death” because their stock prices are closer to their BTC tenure.

Warning reflects recent comments by Matthew Sigel, the head of the research of digital assets at Vaneck, which has expressed concern about bitcoin strategies received by some publicly traded companies.

Sigel has selected the use of programs of publishing on the market (AT-the-the-the-the-path (ATM) and claims that they can dilute if the company’s company’s price is close to Bitcoin’s net assets (NAV).

Meanwhile, New York Pomerantz LLP filed a lawsuit against a pile Compared to Michael Saylor’s strategy, he accuses a company focused on Bitcoins from misleading investors about the profitability and risks of his crypto investment strategy.

Contribution James Check of Glassnode warns that bitcoin treasury can be short -term He appeared for the first time Cryptonews.

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