Only a few Bitcoin (BTC) companies will test time and avoid the evil “death cycle” that will affect the BTC holding companies that trade near the net value of assets (NAV), which is the total assets of the work entity minus its opponents, according to a report from the Investment Capital Brain (VC).

The authors wrote that the health of the treasury companies in Bitcoin depends on their ability to lead a double of the net value of the assets (MNAV).

The PREDER report showed the seven stages of BTC Treasury Company, which begins with a decrease in the price of Bitcoin, which leads to a decrease in MNAV, which makes the company’s share price near the actual Nav.

This, in turn, makes it difficult for BTC Holding companies to secure debt and finance stocks is very important to asymmetric trade of converting the US dollar inflation into one of the estimated assets.

Since access to credit dries and ripens debt, margin calls are operated, forcing companies to sell BTC in the market, which reduces the price of BTC, causing the holding of the holding companies gained by stronger companies, and may lead to a decrease in the market for a long time. The authors of the report wrote:

“Ultimately, a few selected companies will maintain the permanent MNAV installment. They will earn them through strong driving, disciplined implementation, smart marketing, and the distinctive strategies that continue to cultivate Bitcoin-Share regardless of the wider market fluctuations.”

This vortex of death can lead to the next encryption bear market. However, the report’s authors said that since most BTC Treasury companies funded their purchases with stocks instead of debt, separation may be contained.

The authors said the stock -based financing limits the repercussions of the wider market. Nevertheless, current expectations can change if debt financing exceeds stock as a more popular option.

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