Quick Take
Let’s examine the share price performance of publicly traded companies that have adopted Bitcoin (BTC) as a treasury asset, excluding mining companies.
The most notable example is MicroStrategy, which adopted BTC in August 2020. At that time, its share price was around $130.
Ethereum Name Service (ENS) price has painted a red candlestick on the daily chart while attempting to close above $26.
The profits the investors accumulate seem to be saturating the market, creating unfavorable conditions.
The world’s largest lender, Industrial and Commercial Bank of China (ICBC), recently published an in-depth analysis highlighting the rapid evolution and growing diversity in digital currencies, where it compared Bitcoin to gold and deemed Ethereum “digital oil.