{"id":702388,"date":"2025-12-06T12:01:00","date_gmt":"2025-12-06T09:01:00","guid":{"rendered":"https:\/\/buradabiliyorum.com\/en\/bitcoin-treasury-firms-enter-a-darwinian-phase-as-premiums-collapse-galaxy\/"},"modified":"2025-12-06T12:01:00","modified_gmt":"2025-12-06T09:01:00","slug":"bitcoin-treasury-firms-enter-a-darwinian-phase-as-premiums-collapse-galaxy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-treasury-firms-enter-a-darwinian-phase-as-premiums-collapse-galaxy\/","title":{"rendered":"Bitcoin treasury firms enter a \u2018Darwinian phase\u2019 as premiums collapse: Galaxy"},"content":{"rendered":"

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Bitcoin treasury firms are entering a \u201cDarwinian phase\u201d as equity premiums collapse, leverage turns into downside and DAT stocks flip to discounts, Galaxy warns.<\/p>\n

Bitcoin treasury companies are entering a \u201cDarwinian phase\u201d as the core mechanics of their once-booming business model break down, according to a new analysis from Galaxy Research. <\/p>\n

The report<\/a> said that the digital asset treasury (DAT) trade has reached its natural limit as equity prices fell below Bitcoin (BTC<\/a>) net asset value (NAV), causing the issuance-driven growth loop to reverse and turning leverage into a liability.<\/p>\n

That breaking point arrived as Bitcoin dropped from its October peak near $126,000 to lows around $80,000, triggering a sharp contraction in risk app<\/a>etite and draining liquidity across the market. The October 10 deleveraging event accelerated the shift, wiping out open interest across futures markets and weakening spot depth. <\/p>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin treasury firms are entering a \u201cDarwinian phase\u201d as equity premiums collapse, leverage turns into downside and DAT stocks flip to discounts, Galaxy warns. Bitcoin treasury companies are entering a \u201cDarwinian phase\u201d as the core mechanics of their once-booming business model break down, according to a new analysis from Galaxy Research. The report said that…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-702388","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/702388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=702388"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/702388\/revisions"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=702388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=702388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=702388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}