Bitwise CEO "Cryptocurrency treasury firms will be restructured mainly among large companies"

Source: DigitalToday Original Title: Bitwise CEO “Cryptocurrency treasury companies will be reorganized mainly around large firms” Original Link:

Asset management firm Bitwise has raised the possibility of restructuring regarding companies that hold cryptocurrencies as financial assets ( Digital Asset Treasury·DAT ).

Hunter Hosley, CEO of Bitwise, predicted on social media that “DAT is still in its early stages and will evolve into an operating company that acquires and integrates small cryptocurrency firms in the future.”

This statement was a response to a thread posted by Matt Hougan, the Chief Investment Officer of Bitwise (. Hougan explained that the companies that survive among DAT firms will be the larger ones, as they are in a favorable position regarding bond issuance, cryptocurrency lending, and access to derivatives markets. He added that some may have the potential to acquire undervalued companies and expand.

According to CoinGecko), as of 2025, there are 142 DAT companies worldwide, of which 76 were established this year. These companies follow the strategy model led by Michael Saylor and actively reflect Bitcoin on their financial statements. The report states that most DATs hold Bitcoin(BTC), while only 15 companies hold Ethereum(ETH) and just 10 hold Solana(SOL).

However, since DAT is based on long-term operations, there are increasing warnings that costs and risks will accumulate over time. Huoguan stated, “In the future, differentiation among companies based on performance will take place,” and analyzed that while some may trade at a premium, most are likely to be discounted or acquired.