Several public companies may be about to build Altcoins treasures in an attempt to pump the prices of their actions.
These companies try to replicate the model dominated by Michael Saylor’s strategy (MSTR) that has now accumulated 2.9% of the entire Bitcoin (BTC) that will exist. Since he embarked on his BTC Treasury strategy in 2020, the price of MSTR shares has increased by more than 3,000%.
Bitcoin’s treasure strategy has been copied by a series of different companies and in recent months there have been several doing something similar with Ether.
However, some commentators have fulfilled the skepticism used with other alternatives (a general term for any cryptocurrency that is not bitcoin) with skepticism, Financial Times reported Friday.
Blockchain Platform Avalanche is exploring the possibility of selling a lot of its token Avax to a ghost company of the public list, which would then use to win the performance and attract an investor base, according to the report, citing people familiar with the matter.
The RSV Capital Canadian investment group is looking to raise $ 200 million of capital using a Shell company that will be implemented to buy tons, the FT reported.
This method seems to have brought some short -term profits where it has been tested. Charlie Lee, co -founder of Litecoin, invested $ 100 million in Mei Pharma (MEIP) for the company to buy LTC on July 18. Meip’s shares increased by 17% after the ad before retreating and are around 4.9% higher in the last week, from writing.
However, this business plan will not produce any long -term benefit, according to Eric Benoist, a technology and data research specialist at Natixis Cib, who described it as “enormously speculative.”
“That will not save them for a long time,” he said. “At the end of the day whatever [crypto] They have in the balance and that’s. “
Geoff Kendrick, Global Digital Assets of Standard Chartered, described a movement towards the smallest Altcoin treasure as “a flash in the pan.”
He added that if the prices of Token collapse, the companies “would have pain in the shareholder or the bond holders.”
