Top Crypto Treasury Firms Suffer from Discounts

The top 20 crypto treasury firms have seen their share-funded token accumulation undermined by discounts. According to DWF, only four of them trade above their holdings value.

This means that even if these firms use existing cash, they cannot continue buying new tokens at a higher price without incurring losses. Discounts undermine the ability of these institutions to accumulate more tokens using their shares.