210k Capital, the hedge fund launched by entrepreneur David Bailey, has made headlines with a staggering 640% net return over the last 12 months—demonstrating the explosive power of the Bitcoin treasury trend.
According to reports, 210k Capital’s record-breaking performance was fueled by strategic investments in public companies that have added Bitcoin to their balance sheets.
The sharp surge in BTC price—recently topping $123,000—further turbocharged returns. Though 210k Capital, as a private entity, keeps its financials confidential, sources reveal its profits primarily stem from Bitcoin treasury holdings spread across the US, UK, Canada, Australia, and Sweden.
The hedge fund's parent company, UTXO Management, reports that 210k Capital has investments in several Bitcoin-linked companies, including Strategy, Metaplanet, Moon Inc, The Smarter Web Company, The Blockchain Group, Liquid Techonlogies, H100, Matador, and DV8.
Managing partner Tyler Evans revealed that 210k Capital is currently reviewing as many as 30 additional potential investments in so-called “Bitcoin proxies”- companies that operate within the Bitcoin ecosystem.
David Bailey’s reach goes far beyond investing. As founder of Bitcoin Magazine and BTC Inc., Bailey became a central adviser to Donald Trump’s presidential campaign, reportedly acting as the architect behind Trump’s newfound pro-Bitcoin stance.
This regulatory pivot underscores how favorable policies can help catalyze the next wave of digital asset adoption and price gains.
Since Michael Saylor's Strategy added Bitcoin to its treasury in 2020, over 150 firms have followed suit.
At least 47 private firms have also disclosed holding Bitcoin on their balance sheets.
Bitcoin treasury companies have flourished during the market’s record bull run since early 2024, validating a trend that shows no signs of slowing.
While the Bitcoin treasury playbook has delivered blockbuster returns for now, industry voices urge caution:
Venture capital firm Breed warns these companies must keep their market cap well above their “multiple on net asset value” (MNAV) to stay healthy.
A significant Bitcoin price drop could quickly erode this advantage, making it tougher to raise additional capital.
Analysts like Glassnode’s James Check think only companies with a distinct niche or robust strategy will continue to command a premium, as the market matures from “hype” to a “show me” phase.
The timing is pivotal: just last week, the House of Representatives passed major crypto legislation covering stablecoins, market structure, and a ban on central bank digital currencies—strengthening the tailwinds for digital asset companies.
For crypto investors and industry watchers, 210k Capital’s meteoric rise serves as both a blueprint and a cautionary tale for the powerful—yet fragile—fusion of corporate Bitcoin adoption and regulatory change.
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AnaisOver half of the public companies that added Bitcoin to their balance sheets in 2025 have seen their share prices fall by more than 50%. The drop follows a sharp decline in Bitcoin’s value, exposing firms to heavy losses and sparking concerns over the risks of using crypto as a treasury asset.
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AnaisStrategy now holds over 600,000 Bitcoin worth nearly $71 billion, making it one of the biggest corporate treasuries in the US. Its chairman, Michael Saylor, has hinted at another large Bitcoin purchase with a cryptic post online.
AnaisAn Australian fintech company, Block Earner, has launched the country’s first mortgage that accepts Bitcoin as loan security. This became possible after a court ruled the product doesn't need a financial licence, letting people use crypto to buy homes without selling it.
AnaisChatGPT said: Shinhan Bank has added cryptocurrency tracking and educational tools to its SOL app, becoming the first South Korean bank to offer such services. The move signals growing acceptance of crypto in traditional banking, with plans to expand into crypto purchases and wallet management soon.
WeatherlyThailand is testing a crypto sandbox to let tourists change digital assets into Thai baht for local spending. Approved exchanges will handle the conversions, with spending limits and ID checks to meet national rules.
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AnaisMeta has launched "Teen Accounts" on Facebook and Messenger, enhancing privacy with features like content limits and reduced unwanted interactions. This follows a federal judge's ruling allowing claims that some platform features may harm minors to proceed.
CatherineThe FBI secretly ran a dark web money laundering scheme for nearly a year after arresting the original operator, Anurag Murarka. They used the sting to catch cybercriminals and stop over $1.4 million in illegal crypto transfers.
AnaisSingapore is emerging as a leading crypto hub, with Gen Z and millennials increasingly using digital assets for everyday payments despite ongoing challenges.
KikyoJanover, a commercial real estate platform, raised $42 million through convertible notes and warrants, with backing from Pantera Capital, Kraken, and Arrington Capital. The company plans to invest heavily in Solana (SOL) and integrate blockchain into real estate finance under new leadership from former Kraken executives.
WeatherlyJapan’s iconic cherry trees, long celebrated for their seasonal beauty, are beginning to show signs of age. In response, researchers have developed an innovative AI tool that analyzes images of the blossoms to monitor their health.
CatherineStrategy may be forced to sell some of its Bitcoin if prices drop further, despite Michael Saylor’s long-time promise to never sell. A new SEC filing revealed financial pressure from debt and falling markets could break the company’s “HODL” stance.
WeatherlyChina has registered 346 generative AI services as of March 31, 2025, to regulate their development and ensure transparency. The new rules require AI providers to disclose model names and registration numbers, aiming to control AI’s impact on public opinion and social actions.
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CatherineKraken’s Mastercard crypto debit cards are set to launch in the coming weeks, with clients now able to join a waitlist for early access to the highly anticipated product.
KikyoPolice in Gwangju uncovered an illegal gambling operation disguised as a cryptocurrency mining farm, seizing 50 gaming machines and $95,000 in illicit profits. The operator used fake crypto wallets to disguise gambling payments, charging players $34 per hour with cash prizes for top performers.
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