The number of companies holding Bitcoin (BTC) is on the rise, but announcing a BTC strategy isn’t guaranteeing stock gains anymore. What started as a trend set by firms like Strategy has faltered for many. This change is impacting their shares, which often spike initially but fail to maintain those levels afterwards. 2025 saw several well-known companies make big Bitcoin commitments. However, these moves have resulted in share prices failing to keep up with expectations.
While some companies like GameStop, Empery Digital, and Sequans Communications saw initial stock spikes after announcing their BTC treasuries, the momentum quickly faded. Others, however, struggled to match those gains. Take for instance, game retailer GameStop. The company’s 2021 short squeeze rally fueled a frenzy around Bitcoin, but its share price hasn’t matched the excitement since. Similarly, Vanadi Coffee, facing financial challenges, saw shares surge after announcing its Bitcoin strategy in 2024, though gains have since waned.
The story of these companies highlights that just announcing a BTC strategy isn’t enough for long-term success. Many find their stocks slumping back down to pre-announcement levels and struggling to maintain the early momentum. Some, however, like Nakamoto Holdings, are experiencing better results. This suggests there may be a disconnect between investor enthusiasm and actual stock performance.
The landscape is far from clear cut, but some insights emerge:
* Companies often make big promises with Bitcoin, hoping to attract investors and boost shares.
* However, the market has become less responsive to these announcements, with many companies struggling to maintain early gains. 50% of the companies have shown their share prices falling back to pre-announcement levels.
* Some are learning that relying solely on Bitcoin for a revival is not enough. They’re adapting and exploring other strategies or partnerships.
This article delves deeper into these cases, examining the challenges faced by these companies and what lessons can be learned for those considering similar moves in the future.