📰 Bitcoin Treasury Bubble Nears Burst!

10x Research warns investors as shares of Bitcoin-holding companies like MicroStrategy and Metaplanet plunge, wiping out over $17B. Share premiums fell from 3–4× NAV to just 1.0–1.4×, with investors losing an average of 67% compared to holding Bitcoin directly. If the trend continues, another $25–30B in value could vanish by year-end.

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