Analysis: Will the crazy imitation of micro strategies by listed companies to hoard coins succeed? "(Author Nick D. Garcia): The next stage of Bitcoin development is for companies to adopt Bitcoin on their balance sheets; As of May 2025, a total of 199 entities hold 3.01 million BTC; The biggest threat is that the bear market lasts too long, weakening the MNAV premium and coinciding with debt maturity; Fortunately, as most financing is based on equity, the risk of contagion is limited; But companies that heavily rely on debt pose a greater systemic threat. Read the full article: http://(wubleck123. com)/index. php? m=content&c=index&a=show&catid=47&id=44023