Bitcoin treasuries may struggle to match Strategy, says Ammous
Saifedean Ammous said Bitcoin treasury companies are unlikely to compete with Michael Saylor’s Strategy, since Strategy has the largest corporate Bitcoin stash, stronger cash reserves, and lower borrowing costs. He argued that past Bitcoin drawdowns have not threatened liquidation, and Strategy’s cash buffer should help it withstand even larger declines. Ammous said profitable businesses should consider putting surplus cash into Bitcoin as a long-term reserve, while keeping operating cash separate. He still warned that holding Strategy carries risk and said direct Bitcoin ownership is preferable. On price, he said Bitcoin likely already bottomed, though another crash remains possible. He expects the next major peak around 2029 and guessed Bitcoin could reach roughly $200,000 by 2030.
