Bitcoin Treasury Company enters the "Darwin Stage," Galaxy warns of premium collapse

The price of Bitcoin has fallen from a high of $126,000 to the $80,000 range, leading Bitcoin Treasury Company (DAT) into the "Darwin phase," with equity premiums collapsing and leverage becoming a burden, causing most DAT stocks to trade at a discount.

Galaxy Research reports that some companies, such as NAKA, have plummeted 98% from their peak, while Strategy has raised $1.44 billion in cash reserves to cope with market volatility.