Bitwise CEO: Most Digital Asset Treasury Firms Will Trade at a Discount as Industry Reshapes

Bitwise CEO Hunter Horsley says the vast majority of digital asset financial companies — often referred to as Digital Asset Treasuries (DATs) — will likely trade at a discount going forward due to structural limitations, with only a select few capable of achieving a premium valuation. In a post shared on X, Horsley explained that factors such as liquidity constraints, operational expenses, and inherent balance-sheet risks will weigh heavily on DAT valuations. “Most DATs will trade below net asset value,” Horsley wrote, adding that only the most efficient, well-run companies capable of increasing crypto value per share are likely to outperform and trade at a premium. DATs Expected to Become Operating Companies, Not Pure HoldingsHorsley said the next phase of evolution for the sector involves many DATs transforming from simple Bitcoin-holding entities into fully operational companies source: https://www.binance.com/en/square/post/32802003509474?utm_source=BinanceNewsRSS