VanEck’s Matthew Sigel says crypto-buying public firms are revising strategies

Major publicly listed companies that had been accumulating cryptocurrencies, including Bitcoin, are making broad changes to their strategies, Matthew Sigel, VanEck’s head of digital assets research, said on X. While the reasons for selling crypto holdings vary, most companies have cited business model shifts, cash needs, or debt repayment. The following is Sigel’s summary: - Companies that sold all crypto holdings: Satsuma Technology, Bitdeer, Sequence Communication, Genius Group, Prenetics, Volts Capital, Alpha Compute, AEG, MAIA Biotechnology - Companies that made partial sales: MARA Holdings, Strategy, Empery Digital, Nakamoto, Smarter Web Company, Cango, DIGI - Companies that changed their holding strategies: Exodus Movement, MPU Capital, Zerostar, DigitalX