Bitcoin and crypto treasury firms are compared to collateralized debt obligations, posing similar risks that triggered the 2007-2008 financial crisis. Overleveraged firms could exacerbate a market downturn through forced selling, potentially causing a market-wide contagion. There are 178 public companies with BTC on their balance sheets, according to BitcoinTreasuries.

Traditional financial companies are diversifying into altcoin treasuries, moving beyond the popular Bitcoin treasury strategy. Some firms are adopting Toncoin, XRP, Dogecoin, and Solana corporate treasury strategies. Companies pivoting to digital assets have seen mixed effects on their stock prices, with some experiencing significant declines.

Safety Shot announced it would adopt the BONK memecoin as its primary reserve asset, causing its shares to plummet by 50%. Share prices of many Bitcoin treasury firms have slumped in the second half of 2025 as the field becomes increasingly crowded. Market investors are divided over companies diversifying into altcoin holdings.

Read more at Cointelegraph: Crypto Treasury Firms Introduce Counterparty Risks to Bearer Assets: CEO