Bitcoin Treasury Premiums Shrink as NYDIG Warns of Volatility

- NYDIG’s Greg Cipolaro highlights risks for firms as share price premiums narrow. - Cipolaro suggests stock buybacks to stabilize prices amid slowed Bitcoin purchasing. On September 8, 2025, Cointelegraph reported that Greg Cipolaro, NYDIG’s global head of research, warned that Bitcoin treasury firms face potential market turbulence. Cipolaro explained that this turbulence stems from the compression of share price premiums relative to net asset values (NAV), identifying several key factors: investor concerns over supply unlocks, shifting corporate priorities, increased share issuance, and shareholder profit-taking. Cipolaro explained that this compression has left several treasury firms in vulnerable positions, noting that some are now trading at or below the valuation of recent funding rounds. He also warned that existing shareholders could intensify selling pressure, especially for companies awaiting mergers or financing rounds to go public. To counter these challenges, Cipolaro suggested that treasury firms implement stock buybacks, an action that could decrease share supply, stabilize prices, and restore investor trust. He warned that without such decisive action, firms with shares trading below NAV may struggle to maintain stability. Cointelegraph also reported that Bitcoin treasury firms currently hold a record 840,000 BTC in their reserves. However, Bitcoin purchasing activity has slowed noticeably. The average purchase size of a leading treasury firm, for instance, declined significantly in August compared to earlier in 2025. This reduced buying rate reflects a broader deceleration in Bitcoin treasury growth, which could heighten selling pressure in the marketplace. According to CoinMarketCap on September 8, Bitcoin (BTC) was trading at $111,026.93 as of 04:14 UTC. This price marks a 0.42% increase in its 24-hour trading volume.