Editor's Note: In the past two weeks, as the global political and economic situation has become increasingly tense, the cryptocurrency market has experienced a flash crash. Last week, stock prices of cryptocurrency-related concepts generally fell, with leading stocks like Strategy and Bitmine also unable to resist the downturn, halting the rebound. According to statistics, including the Chicago Mercantile Exchange, only 10 cryptocurrency-related concept stocks showed positive gains, while the rest declined. In the short term, with no other direct positive news and against the backdrop of continued rising prices of precious metals like gold and silver, cryptocurrency concept stocks may continue to face pressure.
Below is a summary of last week's currency and stock market information compiled by Odaily Planet Daily. All U.S. stock data are from msx.com.
Major Market Pullback, Cryptocurrency Concept Stocks Return to Downtrend
Recently, both traditional financial markets and cryptocurrency markets have focused on the continuously rising prices of precious metal assets like gold and silver, which currently rank first and second among global assets. Meanwhile, multiple research institutions, capital firms, and investment banks have adjusted their gold price expectations to the range of $5,400-$6,000 per ounce, further fueling market enthusiasm for precious metal investments. Silver has broken through a new high of $115, with an increase of 517% over the past 8 years, even surpassing the同期涨幅 of BTC and gold. As cryptocurrency concept stocks and individual cryptocurrency mining stocks fall into a downward trend, perhaps顺应潮流加入贵金属、矿产资源以及内存资源、显卡资源等概念股炒作 is a better choice.
It is worth mentioning that despite the pressure on cryptocurrency concept stocks, 11 Wall Street analysts still predict that Strategy's stock target price may exceed $440 within the year.
eToro: Gold is Replacing Traditional Stable Low-Risk Assets as a Portfolio Hedge
eToro analyst Lale Akoner pointed out that as investors seek new ways to hedge stock risks, gold is increasingly replacing traditional stable low-risk assets—long-term government bonds—as a配置选择 in portfolios. "Historically, duration risk exposure helped cushion the decline of risk assets. But the recent phenomenon of simultaneous selling of stocks and long-term bonds has weakened investors' trust in bonds as a reliable hedge at critical moments." She stated that investors are therefore replacing bond exposure with gold in their portfolios, indicating that "a broader reflection on portfolio risk management" is underway.
Viewpoint: 2026 is a Key Turning Point for the Cryptocurrency Market, the Industry Will Shift to New Financial Infrastructure Construction
André Casterman, founder of Casterman Advisory, posted on platform X that 2026 will be a key turning point for the cryptocurrency market. The industry's focus has shifted from "whether cryptocurrency is needed" to building new financial infrastructure. Tokenization and digital assets will transition from the pilot phase to regulated production-level deployment. In transaction banking, central banks and institutions have uniformly adopted a "wholesale first" strategy for central bank digital currencies (CBDCs), tokenized deposits, and regulated stablecoins (such as USDC and RLUSD). The upcoming加密市场结构法案 will provide support for institutional applications. Once regulations are clear, banks will heavily invest in areas like cryptocurrency trading. Digital currency forms will coexist and achieve interoperability, with blockchain becoming a parallel financial track, banks continuing to act as intermediaries, and the industry's focus shifting to infrastructure construction under clear regulation.
Weekly Updates on Currency and Stock Listed Companies
Representative BTC Treasury Listed Companies
Last week, global listed companies net bought $290 million worth of BTC; Strategy invested $264 million to purchase 2,932 bitcoins
According to SoSoValue data, as of 8:30 AM Eastern Time on January 26, 2025, the total net purchase of bitcoin by global listed companies (excluding mining companies) last week was $290 million, a decrease of 86.5% compared to the previous week.
Strategy (formerly MicroStrategy) announced on January 26 that it invested $264 million (a decrease of 87.7% compared to the previous week's purchase amount) to增持 2,932 bitcoins at a price of $90,061, bringing its total holdings to 712,647 bitcoins.
Japanese listed company Metaplanet did not purchase bitcoin last week, marking two consecutive weeks without purchases.
Additionally, three other companies purchased bitcoin last week. Japanese fashion brand ANAP announced on January 21 that it invested $6.94 million to增持 70.4485 bitcoins at a price of $98,574.8, bringing its total holdings to 1,417.0341 bitcoins. Japanese food brand DayDayCook announced on January 22 that it invested $17.62 million to purchase 200 bitcoins at a price of $88,085, bringing its total holdings to 1,583 bitcoins. UK website and digital marketing service company The Smarter Web Company announced on January 22 that it invested $900,000 to增持 10 bitcoins at a price of $90,289, bringing its total holdings to 2,674 bitcoins.
Asset management and bitcoin reserve company Strive announced a subsequent issuance of Variable Rate Series A Perpetual Preferred Stock (SATA Stock) to raise $150 million. The funds will be used to增持 over 5,000 bitcoins.
As of press time, the total bitcoin holdings of the统计中的 global listed companies (excluding mining companies) amounted to 963,020 bitcoins, an increase of 0.3% compared to the previous week. The current market value is approximately $84.66 billion, accounting for 4.8% of bitcoin's circulating market value.
Nasdaq Issues Delisting Notice to Bitcoin Treasury Company K Wave Media Again
On January 24, Nasdaq issued another delisting notice to K-Pop media company K Wave Media, which adopts a bitcoin treasury strategy. This time, it was because the company's market value did not meet Nasdaq's minimum market value (MVLS) requirement. Nasdaq requires that its market value must reach or exceed $50 million for 10 consecutive trading days by June 2026, otherwise it will not be able to continue listing on the Nasdaq Global Market.
Previous news: K Wave Media received $1 billion in capital to promote its bitcoin treasury strategy. This year, it received a delisting notice from Nasdaq because its stock price was below $1 for 30 consecutive trading days. The company was required to raise its stock price above $1 and maintain it for 10 consecutive trading days by July 6, 2026, to avoid delisting.
U.S. Listed Company KindlyMD Renames Itself Nakamoto and Discloses Holdings of Approximately 5,400 BTC, with a Market Value Exceeding $500 Million
On January 21, Nasdaq-listed bitcoin treasury company KindlyMD announced its official name change to Nakamoto, aiming to ensure its company image aligns with its long-term strategy in the bitcoin ecosystem. It also aims to clarify the company's goals and continue to advance plans supporting bitcoin's long-term success. Additionally, the company disclosed that since implementing the bitcoin treasury strategy, it has accumulated approximately 5,400 bitcoins, with a current market value exceeding $500 million.
Representative ETH Treasury Listed Companies
BitMine Discloses增持 40,302 ETH Last Week, Total Holdings Increase to Approximately 4.243 Million
Ethereum treasury company BitMine Immersion Technologies disclosed that it增持 40,302 ETH last week. The company's current cryptocurrency asset holdings include 4,243,338 ETH, 192 BTC, $19 million worth of Eightco Holdings equity, $200 million worth of Beast Industries shares, and $682 million in cash. Additionally, Bitmine previously obtained shareholder approval to expand its authorized shares, but the related proposal does not mean an immediate issuance of new shares; rather, it raises the上限 of the number of shares the company can issue in the future.
Ethereum Treasury Company ETHZilla Spends $12.2 Million to Buy Two Jet Engines
ETHZilla disclosed in an SEC filing that the company, through its newly established subsidiary ETHZilla Aerospace LLC, purchased two CFM56-7B24 aircraft engines for $12.2 million. The engines are currently leased to a major airline. ETHZilla had previously sold at least $114.5 million worth of ETH over the past few months. In October and December of last year, the company sold $40 million and $74.5 million worth of ETH, respectively, for stock repurchases and debt redemption. ETHZilla had stated that it would shift to the asset tokenization field, planning to work with regulated broker-dealers to bring cash-flow assets like auto loans and housing loans onto the chain, and expects to launch the first batch of tokenized assets in the first quarter of this year.
FG Nexus Discloses Holdings of 37,594 ETH and Has Repurchased Over $32 Million Worth of Common Stock
On January 21, Nasdaq-listed Ethereum treasury company FG Nexus disclosed that as of January 20, the company held 37,594 ETH, with total outstanding debt of $1.9 million and 33.6 million common shares outstanding. Additionally, FG Nexus stated that it has repurchased approximately 9.9 million common shares at an average price of about $3.24 per share and approximately 53,000 preferred shares at an average price of about $24.16 per share, with a total value exceeding $32 million.
Representative SOL Treasury Listed Companies
SOL Strategies Launches Liquid Staking Token STKESOL with Initial Stake of 500,000 SOL
On January 20, SOL treasury company SOL Strategies announced the launch of the STKESOL liquid staking token with an initial stake of 500,000 SOL. The product distributes stakes to dozens of validators through its automatic delegation model. It will also be available on several major Solana decentralized finance platforms, including Orca, Squads, Kamino, and Loopscale, aiming to add new revenue sources for SOL Strategies' validators and treasury operations.
Representative Altcoin Treasury Listed Companies
Canton Treasury Company Tharimmune Plans to Raise $55 Million Through Stock Registration Offering
On January 20, Nasdaq-listed Canton treasury company Tharimmune announced plans to raise $55 million through a stock registration offering. The company will issue 1,800,000 common shares at an issuance price of $2.92 per share, along with prepaid warrants. Each prepaid warrant can purchase up to 17,000,000 common shares at a price of $2.9199 per warrant. The fundraising transaction is expected to be completed on January 21. The new funds will be used to continue expanding its digital asset management strategy centered around Canton Network tokens.
