🌕 Gate Square · Mid-Autumn Creator Incentive Program is Now Live!
Share your creations with trending topics and get a chance to split $5,000 in rewards! 🎁
👉 Join now: https://www.gate.com/campaigns/1953
💡 How to Join:
1️⃣ Post with the hashtag #Gate Square Mid Autumn Creator Incentive# .
2️⃣ Your content should follow the daily trending topics posted by [Gate _Square], and include both hashtags.
3️⃣ The more posts, higher quality, and greater engagement — the bigger your rewards! 🚀
💰 Creator Rewards:
🏆 Top 1: Bulgari Mid-Autumn Gift Box + $100 Futures Voucher + $100 GT
🥈 Top 2: Bulgari
Bitcoin treasury companies are still trading at a premium.
That’s mostly because they’ve followed the MicroStrategy playbook: borrow money at cheap, buy $BTC on dips, and use volatility to boost returns.
But things have changed:
> Volatility is now at multi year lows. Realized vol is now around only 25% compared to 50%+ at the peak.
> Corporate buying has slowed. Public companies added only around 5K $BTC in the last quarter which is almost 90% less compared to more than 50K+ in Q1.
the premium looks fragile without those supports.
what keeps it going? a rebound in volatility: an election season, demand from ETFs and sovereign buyers could help.
If neither happens, the premium will fade and if they do, balance sheets will turn into leverage machines again, just like we saw with MicroStrategy.
It comes to one question: is this just a pause or is it the start of another high?