Strive CIO: Continued BTC weakness could force M&A for treasury firms

A continued slump in BTC's price will likely trigger mergers, acquisitions, or restructuring among Digital Asset Treasury (DAT) companies, Strive Chief Investment Officer (CIO) Ben Workman predicted. According to The Block, Workman commented at the BTC Prague event that many companies took on debt, such as issuing convertible bonds, to fund investments during last year's Bitcoin craze. He explained that while a rising BTC price would solve most financial issues, prolonged weakness could force companies to sell their BTC holdings to cover operating costs or manage debt. Workman specifically pointed to convertible bonds with collateral maintenance clauses, which could create forced selling pressure if BTC's price falls, straining a company's financial health. This scenario, he noted, makes M&A or restructuring among DAT firms highly probable.