Honestly, it's just the most ridiculous nonsense I've seen come out of what should be smart people's mouths. Seriously, hit me up if you wanna know my real thoughts on this.
Check out this hilariously bad example, Leap Therapeutics. Here’s what their website has to say:
Sounds alright for a small biotech focused on drug design, right? They claim they're targeting cancer, which is cool and all. But then you scroll down and see the news updates:
Almost all of it is about ZCash! Do the execs in companies with these so-called crypto treasuries even have a clue what a mission statement is? I doubt it. They seriously need a lesson on staying on track with their goals.
_______________________________________________
But the worst case of corporate absurdity has to be Nakamoto (used to be KindlyMD). If you check out what they’ve got on their page, it’s just filled with a bunch of fancy jargon that still leaves you wondering what the company actually does besides owning bitcoin. Look at their news section especially a press release from May 20, 2025. It’s pretty clear that Nakamoto is trying to gobble up KindlyMD like it’s the holy grail of bitcoin. And KindlyMD?
If you follow the link to www.kindlymd.com from the screenshot, you find this:
Forget about the whole medical practice and helping patients idea just take two bitcoin and screw all that.
This is no longer a healthcare company; there is a big shift from the biotech company. It is only disguising itself as a healthcare company but is a crypto fund. I think they lack transparency. It would have been better if the primary focus were on health, or if they wanted to go into crypto completely, they should have opened up completely.
This thread needs a bump!
Anyways, OP is absolutely correct that these kinds of companies aren't ethical and are shady. I believe they are scams to begin with. Look, if you think about it, it seems to be a cash grab for suckers to give money for a miraculous drug. When people stop buying the bullshit, then they need more lies to get more money from gullible people, and now the trend is shifting to crypto treasury companies.
Selling dreams and miraculous drugs is a red flag, and pivoting to unrelated stuff is another red flag. So, I hope people see this and don't get scammed.
So this cancer treatment laboratory is simply a subsidiary of Cypherpunk, which in turn is apparently funded by the Winklevoss brothers (as far as can be understood from the news about the purchase of ZEC). Of course, venture capital can invest in anything, but drug development and cryptocurrency are somehow too far away, which rather indicates that investors themselves do not know what to invest in. However, this is only a superficial impression, because maybe they are geniuses that we cannot understand...
They are all retarded as business ideas.
At first, the idea made sense, but it has ended up being like shooting oneself in the foot. Those that hold Bitcoin as their treasury are struggling, so I don't think it will be long before those that hold shitcoins as their treasury either abandon the treasury model or go bankrupt.
It's ridiculousthat's what it does. It would be laughable if it weren't for the fact that it's a company that deals with health.
I'll trow in one of my country, Vanadi Coffee. It made the local cryptocurrency news for being the first and, as far as I know, the only one so far company to adopt that model. It is a chain of coffee shops, which is now in trouble precisely because of that.
Searchin in English I see this post on Binance:
This is a link to a reputable Spanish economic newspaper (in Spanish, title translated by me):
Vanadi doubles its losses to 6.7 million following its shift to bitcoin and the closure of five cafés
Wow! That seems to me almost like what would happen if Starbucks had lost its mind and "pivoted to become a Bitcoin reserve company". Because that is no small amount of bitcoin that they acquired, and Vanadi must be a fairly big coffee chain to be able to do that.
You know, these corporations--whether small or large--have CFOs and some of them probably have entire departments focused on risk assessment. When I read about how these treasuries are funded and then what they're now having to do to service their debt and so forth since bitcoin has dropped (and altcoins too, since not all of these treasuries are bitcoin-based), it makes me wonder if the executives in charge of finance actually know anything about corporate finance at all.
There's another stinker I just didn't have the patience to mention in the OP: Lite Strategy (NASDAQ: LITS). Some of you probably know about this one, but this is yet another biopharmaceutical company turned....proxy for owning litecoin I guess. The old scientist in me just hates to see shit like this, i.e., a company that was once looking to develop medicines to treat disease suddenly turn on its heels and leap onto the crypto treasury bandwagon, which serves no societal good that I can see and in fact halts any progress they might have made toward treatments/cures for whatever disease states were their focus. It's a net negative all around IMO.
Well, the market will eventually be the judge. It always is.
It says on the heading " Stopping cancer is our mission" yet there's nothing health related in their news release and it's just like they are using the "clinic" as a front for something else. So many people are attracted by the prospect of profit they'd get from cryptocurrency investment but fail to have a deeper knowledge of it and end up swimming in deep waters when things go south and it's moves like these that makes me wonder if they don't have a financial advisor because wtf?
Saylro screwed this up, he created a period where if you make money with your company, and put all your profits into crypto, then you could own a lot of crypto and corner the market. While his averages may not be great, and he may not have a huge profit, reality is that he owns major part of bitcoin right now, dude is reaching 200k soon if I am not seeing it wrong, he has that much, this is a coin with max 21 million cap, so having even 100k bitcoins is just insane.
And this is why other companies are following that success, and can't do it with bitcoin, so looking for other smaller stuff for some reason, this one preferred zcash for example, making zero sense to me of course but I understand "why" part of it.
At the first the Bitcoin treasury wasn't looking all bad to me
But the shitcoin treasury company has always amazed me what shithole the idea came up from
Imagine using centralized coins to be your backing
Not only does it make one reliant they are so volatile and screwed biasly towards bottom.
Nakamoto recently sold some of their Bitcoins and I expect some company cutting their losses soon.
No he doesnt own any part of Bitcoin since Bitcoin doesn't use POS like ethereum
And Strategy has over 800,000 Bitcoins.
https://bitcointreasuries.net/
Because they are stupid or lack any proper risk assessment or they were just been greedy.