Bitcoin Treasury Premiums Narrow, Sparking Volatility Fears

- Premiums on Bitcoin treasury shares narrow, spurring market concerns. - NYDIG analyst urges stock buybacks to stabilize valuations. According to a Cointelegraph report on September 8, 2025, digital asset treasury firms are facing narrowing premiums between their share prices and the net asset value (NAV) of their Bitcoin holdings, placing the market in a precarious state. The report highlights that this trend reflects growing investor unease and shifting corporate dynamics, which could contribute to market turbulence. NYDIG's analysis, cited in the report, identifies various factors driving this trend, including anxiety over forthcoming supply unlocks, profit-taking by investors, changes in corporate strategies, and increased share issuance. Together, these factors create pressure on share prices relative to the underlying Bitcoin asset value, and as premiums compress, fears of heightened volatility have surfaced across the sector. To stabilize share prices, NYDIG recommends that digital asset treasury firms consider stock buybacks when their shares trade below NAV, advising them to allocate raised funds for such initiatives. Reducing the share supply could bolster prices during periods of market stress. In addition, many of these companies are awaiting mergers or financing deals to go public, events that could trigger selling activity from existing shareholders and further amplify market pressures. Amid these concerns, Cointelegraph noted on September 8 that Bitcoin holdings among treasury firms reached an all-time high of approximately 840,000 BTC. However, the accumulation rate has slowed noticeably. For example, one major Bitcoin-holding company reported its average purchase size in August dropped significantly compared to earlier peaks in accumulation during the year. As treasury firms reduce their purchasing momentum, this deceleration in acquisition rates may ripple through broader market activity. According to CoinMarketCap, as of September 8 at 11:29 UTC, Bitcoin (BTC) was trading at $111,828.52, with a 0.51% increase in 24-hour trading volume.