Editor's Note: In the past two weeks, as the global political and economic situation has become increasingly tense, the cryptocurrency market has once again experienced a flash crash. Last week, the prices of cryptocurrency-related stocks fell sharply, with leading stocks like Strategy and Bitmine also unable to hide their downward trend, and the rebound came to a sudden halt. According to statistics, including the Chicago Mercantile Exchange, only 10 cryptocurrency-related stocks showed positive growth, while the rest were in a downward trend. In the absence of other direct positive news stimuli in the short term, and with the backdrop of continuously rising prices of precious metals like gold and silver, cryptocurrency-related stocks may continue to face pressure.
Below is a summary of last week's cryptocurrency stock market information compiled by Odaily Planet Daily, all U.S. stock data comes from msx.com.
Market Overview: Major Market Correction, Cryptocurrency Stocks Return to Downward Trend
Recently, both traditional financial markets and the cryptocurrency market have focused on the continuously rising precious metal assets like gold and silver, which currently rank first and second in global assets. Meanwhile, several research institutions, capital firms, and investment banks have adjusted their gold price expectations to the range of $5,400 to $6,000 per ounce, further boosting market enthusiasm for investing in precious metals; silver has broken through $115, with an increase of 517% over the past eight years, even surpassing the growth rates of BTC and gold during the same period. As cryptocurrency-related stocks and cryptocurrency mining companies have all fallen into a downward trend, it may be a better choice to follow the trend and engage in speculation on precious metals, mineral resources, as well as memory resources and graphics card resources.
It is worth mentioning that despite the pressure on cryptocurrency-related stocks, 11 Wall Street analysts still predict that Strategy's stock target price may exceed $440 this year.
eToro: Gold is Replacing Traditional Stable Low-Risk Assets as a Portfolio Hedging Tool
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 choice in investment portfolios. "Historically, duration risk exposure has helped buffer declines in risk assets. However, the recent phenomenon of simultaneous sell-offs in the stock market and long-term bonds has weakened investors' trust in bonds as a reliable hedging tool at critical moments." She stated that investors are therefore replacing bond exposure in their portfolios with gold, indicating that "a broader reflection on portfolio risk management is underway."
Opinion: 2026 is a Key Turning Point for the Cryptocurrency Market, Industry Will Shift to New Financial Infrastructure Construction
André Casterman, founder of Casterman Advisory, stated on the X platform that 2026 will be a key turning point for the cryptocurrency market, with the industry's focus shifting from "whether cryptocurrency is needed" to building new financial infrastructure. Tokenization and digital assets will transition from pilot phases to regulated production-level deployments. In terms of transaction banking, central banks and institutions worldwide have unified their "wholesale-first" strategy for central bank digital currencies (CBDCs), tokenized deposits, and regulated stablecoins (such as USDC and RLUSD). The upcoming cryptocurrency market structural legislation will support institutional applications, and once regulations are clarified, banks will invest heavily in cryptocurrency trading and other areas. Digital currency forms will coexist and achieve interoperability, with blockchain becoming a parallel financial track, and banks continuing to act as intermediaries, shifting the industry's focus to building infrastructure under clear regulations.
Weekly Update on Cryptocurrency-Related Public Companies
Representative Companies in BTC Treasury
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) for the 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) to increase its holdings by 2,932 bitcoins at a price of $90,061, bringing its total holdings to 712,647 bitcoins.
The Japanese listed company Metaplanet did not purchase any bitcoins last week, marking two consecutive weeks without purchases.
Additionally, three other companies purchased bitcoins last week. The Japanese fashion brand ANAP announced on January 21 that it invested $6.94 million to increase its holdings by 0.704485 bitcoins at a price of $98,574.8, bringing its total holdings to 1,417.0341 bitcoins; the 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; and the UK website and digital marketing services company The Smarter Web Company announced on January 22 that it invested $900,000 to increase its holdings by 10 bitcoins at a price of $90,289, bringing its total holdings to 2,674 bitcoins.
Asset management and Bitcoin reserve company Strive announced plans to issue Variable Rate Series A Perpetual Preferred Stock (SATA Stock) to raise $150 million, with funds intended for increasing holdings of over 5,000 bitcoins.
As of the time of publication, the total amount of Bitcoin held by the listed companies (excluding mining companies) in the statistics is 963,020 bitcoins, an increase of 0.3% compared to the previous week, with a current market value of approximately $8.466 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 a delisting notice to K Wave Media, a K-Pop media company that has adopted a Bitcoin treasury strategy, due to the company's market value not meeting Nasdaq's minimum market value (MVLS) requirements. Nasdaq requires that the company must achieve a market value of $50 million or more for 10 consecutive trading days before June 2026, or it will not be able to continue listing on the Nasdaq global market.
Previously, K Wave Media received $1 billion in capital to promote its Bitcoin treasury strategy, but this year it received a delisting notice from Nasdaq due to its stock price being below $1 for 30 consecutive trading days, requiring the company to raise its stock price above $1 and maintain it for 10 consecutive trading days before July 6, 2026, to avoid delisting.
On January 21, Nasdaq-listed Bitcoin treasury company KindlyMD announced its official name change to Nakamoto, aiming to ensure that its company image aligns with its long-term strategy in the Bitcoin ecosystem, while also clarifying the company's goals and continuously promoting plans that support Bitcoin's long-term success. Additionally, the company disclosed that it has accumulated approximately 5,400 bitcoins since implementing its Bitcoin treasury strategy, with a holding market value now exceeding $500 million.
Representative Companies in ETH Treasury
Ethereum treasury company BitMine Immersion Technologies disclosed that it increased its holdings by 40,302 ETH last week, bringing its total crypto asset holdings to include 4,243,338 ETH, 192 BTC, $19 million in Eightco Holdings equity, $200 million in Beast Industries shares, and $682 million in cash. Furthermore, Bitmine previously received shareholder approval to expand its authorized shares, but the related proposal does not mean an immediate issuance of new shares, rather it raises the upper limit of the number of shares the company can issue in the future.
Ethereum treasury company ETHZilla Spent $12.2 Million to Buy Two Jet Engines
ETHZilla disclosed in a filing with the SEC that the company purchased two CFM56-7B24 aircraft engines for $12.2 million through its newly established subsidiary ETHZilla Aerospace LLC. The engines are currently leased to a major airline. ETHZilla 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 buybacks and debt redemption. ETHZilla has stated that it will shift to the asset tokenization field, planning to collaborate with regulated brokerage firms to bring cash-flowing assets like auto loans and mortgages on-chain, with the first batch of tokenized assets expected to launch in the first quarter of this year.
FG Nexus Discloses Holdings of 37,594 ETH and Has Repurchased Over $32 Million in Common Stock
On January 21, FG Nexus, an Ethereum treasury company listed on Nasdaq, disclosed that as of January 20, the company held 37,594 ETH, with total outstanding debt of $1.9 million and 33.6 million shares of common stock outstanding. Additionally, FG Nexus stated that it has repurchased approximately 9.9 million shares of common stock at an average price of about $3.24 per share, and approximately 53,000 shares of preferred stock at an average price of about $24.16 per share, with a total value exceeding $32 million.
Representative Companies in SOL Treasury
SOL Strategies Launches Liquid Staking Token STKESOL, Initial Staking Amount of 500,000 SOL
On January 20, SOL treasury company SOL Strategies announced the launch of the liquid staking token STKESOL, with an initial staking amount of 500,000 SOL. This product distributes staking rewards to dozens of validators through its automated delegation model and will also be available on several major Solana decentralized finance platforms, including Orca, Squads, Kamino, and Loopscale, aiming to create new revenue streams for SOL Strategies' validators and treasury operations.
Representative Companies in Altcoin Treasury
Canton Treasury Company Tharimmune Plans to Raise $55 Million Through Stock Registration
On January 20, Nasdaq-listed Canton treasury company Tharimmune announced plans to raise $55 million through stock registration. The company is expected to issue 1,800,000 shares of common stock at an issuance price of $2.92 per share, along with pre-funded warrants, each of which can purchase up to 17,000,000 shares of common stock at a price of $2.9199 per warrant. This fundraising transaction is expected to be completed on January 21, and the new funds will be used to continue expanding its digital asset management strategy centered around the Canton Network token.
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