Public Shell Firms Ramping Up Altcoin Buys Draws Skepticism: FT

Description

A number of public companies may be about to build hoards of altcoins in an attempt to pump their share prices. Such companies are attempting to replicate the model mastered by Michael Saylor's Strategy (MSTR) which has now accumulated 2.9% of all the bitcoin (BTC) that will ever exist. Since it embarked on its BTC treasury strategy in 2020, MSTR share price has increased by over 3,000%. The bitcoin treasury strategy has been copied by a string of different companies and in recent months there h...