TD Securities: Four listed companies holding Bitcoin experienced "significant" discounts, shorts gained the upper hand

Golden Finance reported that TDCowen analyzed Lance Vitanza in a report on Tuesday that some listed companies holding Bitcoin as treasury assets are gradually losing their attractiveness, and their stock prices have fallen below a critical threshold. He pointed out that of the 13 companies tracked by the investment bank to buy Bitcoin, four of the shares of the stock price "has a significant discount" relative to the value of the cryptocurrency they hold. The four companies are SemlerScientific (4% discount), Sequans (25% discount), DDCEnterprise (18% discount) and BitcoinTreasuryCorp (18% discount). These companies are trying to imitate Strategy's model to some extent. Similar to the largest corporate Bitcoin holders, they are usually measured by the number of Bitcoins held per share. This year, all four companies have turned to buying Bitcoin. The companies have accumulated $1.15 billion worth of Bitcoin, but the volatility of their stock prices limits their main sources of funding. They can no longer buy Bitcoin by issuing common shares, and they cannot increase their holdings of the asset while obtaining a premium to increase their holdings per share.