Why Bitcoin Pivots Are No Longer a Guarantee of a Stock Boom

Bitcoins (BTCThe share prices of companies that announce a BTC plan are no longer guaranteed to rise.

It is important to note that the word “you” means “the”. model was pioneered by Strategy (formerly MicroStrategy), the largest corporate shareholder in the public market with 632.457 BTC, at the moment of this writing. Strategy stock’s value has increased by more than 2,200% since its initial purchase made in August 2020.

By Friday, Aug. 29 2025, there are 161 public companies. hold more than 1 BTC, according to BitcoinTreasuries.net. Together, they hold 989,926 BTC — about 4.7% of Bitcoin’s supply.

The market has been cooling since 2025 when a wave of newcomers entered the Bitcoin Treasury Club. Ether is a new currency that some firms are diversifying into.ETHSome have had their share prices fall back to pre-announcement or below.

Check out some of the companies who’ve failed to achieve their Bitcoin goals.

GameStop – 4,710 BTC in its vault

GameStop has been linked to Bitcoin for a long time. The r/WallStreetBets Subreddit, a group of retail traders, triggered the short squeeze in GameStop stock.

Dogecoin memecoin was also launched around the same time.DOGE() exploded on the back of a cultural wave, online communities, and tweets from Elon Musk.

GameStop’s plan to invest Bitcoin was announced on March 26th, 2025. Bitcoin has not been able to create the same level of hype that was seen in 2021. GameStop initially had a high stock price. jumped 12% on the announcement On May 28, the stock reached a peak of $35 per share. revealed it had acquired 4,710 BTC.

Related: MicroStrategy’s Bitcoin debt loop: Stroke of genius or risky gamble?

Investors quickly sold both news events. Its shares ended Thursday at $22.79 – down 27% for the year.

Empery Digital Holds 4,019 BTC

Some corporate Bitcoin purchasers aren’t connected with blockchain, or cryptocurrency. MicroStrategy started as a company which developed business intelligence tools before it became a pioneer in Bitcoin treasuries. Japan’s Metaplanet was originally a hotelier before becoming a Bitcoin treasury. following the Strategy playbook in 2024. The share price of the company has risen by up to 6,000%.

Volcon is an electric car maker. announced A $500-million Bitcoin Treasury Strategy was announced on 17th July. It rebranded two weeks later as Empery Digital, and took the ticker of EMPD to Nasdaq.

Prior to the pivot, Empery’s shares traded mainly between $6 and $7. They were well below their high in January of $35. Bitcoin’s announcement briefly lifted the stock to $21 On July 17, the rally was strong, but didn’t continue. On Thursday, EMPD was back at its usual price range, closing the day at $6.99.

Sequans Communications: Holds 3,170 BTC

Sequans Communications is a French semiconductor company that was listed in the NYSE under the ticker “SQNS” back in 2011. Its trading history is similar to that of a crypto-token: hot listings spikes, followed by long stretches where investors are disappointed.

SQNS began July 2025 at $1.45, after an entire year of decline. The first Bitcoin it purchased on 10 July briefly sparked a rally that sent shares up to $5.39 within days. The momentum soon faded and the share price fell to just $1.25 by the beginning of August.

Sequans announced on Monday a $200 million at-market equity offer to finance its plans for accumulate 100,000 BTC by 2030. SQNS’s price continued to drop despite this news. On Thursday it was $0.91.

Vanadi Coffee: Holds 100 BTC

Spanish coffee chain Vanadi Coffee, like many other firms who have turned to Bitcoin as a strategy due to financial stress was also pushed in this direction by the same factors. The company will be able to continue operating in 2024. reported Losses of 3.33 millions euros (3.9 million dollars) per year, up from the 2.87 million euro loss in 2009.

Bitcoin became an official plan on 29 June. The next day its share price soared from 0.27 euros to 1,09 euro, ending the month with a 300% increase.

Related: Bitcoin’s quantum countdown has already begun, Naoris CEO says

The stock fell to 35 cents by Friday afternoon, August 29, 2025. This stock has risen 95.6% in the past year, but is down by 44% compared to 2024.

Ming Shing Group Holds 833 BTC

Ming Shing Group is a Hong Kong construction and engineering firm that was listed in the Nasdaq on November 20, 2024. After going public in November 2024, Ming Shing Group began buying Bitcoins. The first one was 500 BTC on January 13, 2025. As of the date this article was written, 833 BTC were held by it.

The stock initially reached an all-time record high of $8.50 after its debut on Nasdaq on November 22, 2024. Stocks have fallen since then to as low as $1.85 at Thursday’s closing.

The company announced on Aug. 21 a deal worth $483 million. acquire an additional 4,250 BTC By issuing shares. Ming Shing, if completed, would surpass Boyaa Interactive which currently holds 3,640 BTC, and rank as Hong Kong’s biggest corporate Bitcoin owner. Asia’s second-largest public Bitcoin treasury Metaplanet is a great way to get started.

Ming Shing’s share price briefly rose after the announcement, but most gains were erased on the same day.

K Wave media: holds 88 BTC

K Wave Media, a South Korean entertainment company, made its initial Bitcoin purchase in July 20,25. However since then its stock has been falling. The stock is still under pressure despite the company raising $1 billion to purchase BTC.

Initial announcements were made on 4 June in an SEC filingK Wave revealed a $500,000,000 standby equity acquisition agreement with Bitcoin Strategic Reserve. This filing also revealed plans for Lightning Network nodes, and the integration of BTC with its consumer and financial platform.

K Wave Media, a new media company formed by the merger of Global Star Acquisition with K Enter Holdings on May 13, completed an SPAC (special purpose acquisition companies) merger. Although the Bitcoin strategy temporarily lifted the stock out of its post SPAC sell-off but momentum faded quickly, Since the company’s first BTC purchase on July 10, shares have continued to decline, closing at $1.85 on Aug. 28 — just below the $1.92 level recorded on July 3, the day before its Bitcoin treasury filing.

Bitcoin Treasury Companies: Early Success Cases

The cases above show that an announcement of a Bitcoin-based strategy is a “Hail Mary” for firms in trouble and does not guarantee long-term gains. News of Bitcoin often causes share prices to spike, but they rarely last.

But there are some digital gems among the sand. KindlyMD, a healthcare provider announced on May 12 that it would merge with Nakamoto Holdings. form a Bitcoin treasury companyNow listed on Nasdaq, under the ticker “NAKA”.

Nakamoto Holdings, the company behind Nakamoto, has recently outperformed Metaplanet, and is now the 16th largest publicly listed Bitcoin owner, holding 5,765 BTC.

Convano is a Japanese nail-salon franchisee that has outperformed Nakamoto Holdings. As of the date of this article, Convano holds just 365 BTC. That’s a small amount compared to Metaplanet, Nakamoto Holdings, and other companies.

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