An analysis suggests that the strategy of holding Bitcoin as a company asset, or the 'Bitcoin financial strategy', may no longer be valid. On the 5th, James Check, senior analyst at global on-chain data analysis firm glassnode, shared a skeptical view on X (formerly Twitter), stating that "the Bitcoin financial strategy could have a much shorter lifespan than people expect".
He emphasized that "for newly entering companies, the opportunity has already ended" and that "the strategy is not about who holds more, but about how sustainable the company's products and strategies are for long-term BTC accumulation".
Check particularly analyzed that as early entrants have seized market leadership, it is becoming increasingly difficult for latecomers to gain an advantageous position. His statement that "no investor wants to be the 50th Bitcoin financial company" demonstrates that for latecomers, it is challenging to gain special premium or trust in the market.
He added, "We are now moving beyond simple interest to a 'show me' stage", and "Unless a specific niche market is defined and a strong presence is secured, it will become increasingly difficult for unknown new companies to maintain premium and survive".
Recently, Bitcoin financial strategy gained attention with some large corporations like MicroStrategy ($MSTR) and Tesla ($TSLA) holding large amounts of Bitcoin. However, Check's analysis warns that the effectiveness of this strategy may weaken over time. This suggests that even if key figures like Trump show a positive stance on cryptocurrency acceptance, simply holding Bitcoin as an asset makes it difficult to secure market competitiveness.
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