Wojciech Kasicki, chief technique officer at crypto infrastructure and finance agency BTCS, says the crypto market is more likely to consolidate this 12 months amid the market downturn as working firms merge or purchase firms buying and selling under their web asset values (NAVs).
Kazicki instructed Cointelegraph that enterprise operations akin to offering verification companies for blockchain networks and offering private and non-private credit score merchandise generate money circulation, giving crypto treasury firms a bonus over firms that merely accumulate cryptocurrencies.
This monetary benefit permits it to accumulate firms which might be caught of their crypto investments or which might be buying and selling under the worth of their crypto holdings, he mentioned. Kasicki added:
“When you combine with different gamers, two plus two can add as much as six or extra, and you’ll win sooner, as a result of everyone seems to be struggling on this market that’s buying and selling under web asset worth.”
Cryptocurrency treasury firms skilled a market-wide downturn in 2025, with many firms’ inventory costs falling under the worth of the cryptocurrencies they held on their steadiness sheets. The decline in crypto authorities bonds preceded the crypto market crash in October.
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Tokenized private and non-private credit score merchandise as a income supply for crypto belongings
“In at the moment’s world, credit score merchandise are one of many largest monetary devices used all over the world,” Kazicki instructed Cointelegraph.
Kazicki mentioned private and non-private credit score merchandise may be tokenized on blockchain networks.
“We consider that tokenized real-world belongings (RWA), notably the tokenization of private and non-private credit score, will see vital development over the subsequent 24 months,” he mentioned.
These RWAs may doubtlessly be used as collateral for decentralized finance (DeFi) platforms, together with lending and borrowing functions, he mentioned.

An outline of the tokenized personal credit score market. sauce: RWA.XYZ
Technique, largest Bitcoin ($BTC) is a worldwide monetary firm that gives credit-like fastened earnings merchandise to retail buyers.
The corporate cited its fastened earnings merchandise as one of many explanation why index supplier MSCI ought to embrace Methods and different comparable crypto firms in its inventory indexes.
“Technique’s treasury operations are designed to supply buyers with various levels of financial publicity to Bitcoin by providing a variety of securities, together with shares and bonds,” Technique wrote in its response to MSCI.
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