TechFlow, Dec 6 — According to Cointelegraph, as Bitcoin's price dropped from a high of $126,000 to the $80,000 range, Bitcoin treasury companies (DAT) have entered a "Darwinian phase," where equity premiums collapsed, leverage became a burden, and most DAT stocks began trading at a discount. Galaxy Research reported that some firms, such as NAKA, have plunged 98% from their peak, while Strategy has raised $1.44 billion in cash reserves to weather market volatility.
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