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Crypto Treasuries Surge Amidst Shifting Global Currency Hopes
12 Dec
Summary
- Crypto markets rose 10% since November 20, boosting digital asset companies.
- ECB comments sparked interest in moving away from the U.S. dollar as reserve currency.
- Ether treasuries saw a significant 28% gain, outperforming Bitcoin and Solana.
Crypto markets have experienced a notable surge of about 10% since November 20, significantly benefiting companies holding digital assets, according to B. Riley. This upward trend is largely credited to a renewed sense of risk appetite among investors.
The improved market sentiment appears to stem from comments made by the European Central Bank (ECB), which have reignited discussions about a gradual move away from the U.S. dollar's status as the primary global reserve currency. Coupled with expectations of potential interest rate reductions, these factors have collectively boosted investor confidence.
B. Riley reported that the median mNAV for 25 tracked DATCOs has increased to approximately 1.0x from 0.9x. Performance has been particularly strong for companies employing strategies akin to leverage on crypto prices, with ether treasuries showing an estimated 28% rise since November 20, outperforming bitcoin and Solana treasuries.
