"Bitcoin Financial Companies Are Trash"

Recently, as many companies are incorporating Bitcoin (BTC) into their financial assets, some argue that these financial companies are forming the bubble of this cycle.

On the 13th (local time), Stack Hodler, who has about 110,000 followers on X (formerly Twitter), claimed in a post that "Bitcoin financial companies are the trash of this cycle."

He said, "The goal of companies that have incorporated Bitcoin as a financial asset is to sell stocks to people who expect higher returns than Bitcoin," adding, "This is just the trash of traditional finance (TradFi), and many people will go bankrupt."

In fact, recently, many listed companies, led by Strategy (formerly MicroStrategy), are adopting Bitcoin as a financial asset. Japan's Metaplanet, America's Semler Scientific, TwentyOne Capital, GameStop, and Hong Kong's subsidiary of Mingshing Group, Lead Benefit, have joined the Bitcoin accumulation procession.

He continued, "The good news now is that these companies are absorbing speculative liquidity," but added, "However, they will inevitably have to dispose of assets someday."

In this regard, Stack Hodler emphasized the importance of actual use cases of Bitcoin. He explained, "What we need to focus on now is companies truly adopting Bitcoin," adding, "Companies that create economic value through products and services and store profits in Bitcoin should emerge."

Meanwhile, Stack Hodler stated that this criticism is not directed at Strategy. He said, "The criticism is aimed at Strategy's copycats," adding, "Copycat companies are trying to hijack Strategy's success."