From Accumulation to Anxiety: Crypto Treasury Firms Confront Harsh Market Realities

September is showing an uneasy mood across digital asset treasuries (DATs). What began as a year of aggressive accumulation by corporate players has now run into the harsh reality of collapsing market net asset values (mNAVs), investor caution, and punishing stock declines. DATs Holding Top Crypto Assets Are Losing Purchasing Power as September Mutes the Rally According to Kaiko’s latest report, digital asset treasury companies have been central to crypto’s 2025 rally. Firms like Strategy (MSTR), BitMine, and SharpLink have been steadily accumulating Bitcoin, Ethereum, and Solana, helping to support spot prices and attracting new inflows source: https://beincrypto.com/dats-crypto-assets-losing-purchasing-power-september/