BTCS Executive: Crypto Treasury Companies May See Consolidation Wave in 2026

Odaily 讯 BTCS Chief Strategy Officer Wojciech Kaszycki stated that against the backdrop of a sustained market downturn, crypto treasury companies may exhibit a consolidation trend in 2026. He pointed out that currently, some companies' stock prices are trading at a discount, below the Net Asset Value (NAV) of the crypto assets they hold.

Kaszycki believes that companies with actual operational businesses (such as blockchain validator services or public and private credit products) are better positioned to acquire enterprises that merely hold crypto assets but lack operational income, as they possess cash flow. Furthermore, he mentioned the tokenization of Real World Assets (RWA), particularly the on-chain migration of public and private credit assets, which may see significant growth within the next 24 months and could become a potential revenue source for treasury companies.

He also noted that MicroStrategy, the world's largest Bitcoin treasury company, offers credit-like and fixed-income instruments to investors, citing this as one of the key arguments for its inclusion in the MSCI index system. (Cointelegraph)