In New York morning trade, we are looking at US stock futures rallying and we are seeing a boost higher for the crypto majors as well.
Bitcoin is looking at a Friday rally, and this does come as Iran announced that the Strait of Hormuz is open now.
The crypto major has recovered all losses from the February 5 sell off and apart from the ceasefire, positive ETF flows and more specifically Morgan Stanley's Bitcoin ETF launched.
Here at the New York Stock Exchange on NYSE Arca proving a positive backdrop.
Last year we saw small cap companies ride the Treasury trade, but momentum has pulled along with prices.
And now many Treasury companies have seen their share prices beaten down and some like Marathon Digital and Genius Group sold their Bitcoin holdings to address that and high interest rates.
While joining me to weigh in this morning is Sander Andersen, Executive Chairman & Co-Founder of H100 Group.
Good morning and thank you so much for joining us.
Well, we did get that breaking news just earlier this morning regarding the conflict in the Middle East, but let's start looking at the crypto markets in particular crypto equities.
So we've seen the end of companies like Metaplanet fall below one, and that is in contrast to some of the high multiples that we've seen with big tech stocks.
So do you see opportunity when it comes to these treasury stocks.
Uh, I think, um, this bear market has shown us that these treasury companies will be more industrial players and each of them will develop their own strategy, uh, beyond the, the financial engineering itself, and I think now in these challenges market is when these companies are now going to find themselves and show the market what type of strategy they will develop.
And while some Bitcoin treasury companies have sold their Bitcoin, Treasury companies are still hanging around.
So tell us about the importance of these companies and why you say that Bitcoin treasuries are defining a new chapter in corporate finance.
I think first of all we see different strategies growing in different regions.
Obviously Michael Sayer has proven over the last year his digital credit strategy where he has created enormous demand and we See the same slowly starting in Europe and I believe these companies exist to make it easier for institutions to allocate to the underlying commodity, Bitcoin, but also strategies on top.
And Sandy, today you're joining us from Switzerland.
So can you give us a better understanding of what we're seeing when it comes to European adoption of Bitcoin.
Obviously, um, Europe is, is lagging behind, um, US and we still haven't seen any digital credit products, uh, like strategy has done in the US and MetaPlanet has done in Japan.
But I'm quite confident that we will see these credit strategies evolving, but we need more size in, in the European market.
We are still lagging quite a lot behind, but that will change pretty soon is my expectations.
And very quickly while I have you here, could you take us through Bitcoin per share and why you say this is the only key performance indicator that actually matters for a Treasury company?
I mean, if you compare a treasury company to an ETF or a passive Bitcoin holding, the benefit of investing into a Bitcoin treasury company is that you have a management at work to increase Bitcoin exposure per share over time, and I think without having that as a thing, you have no differentiation.
From, from ETFs and treasury companies and therefore that should be the main priority for any actively managed Bitcoin um company uh to, to accumulate more Bitcoin per share for their shareholders.
And finally, before I let you go, within 60 seconds here, what is your outlook for Bitcoin moving forward?
We are definitely seeing a comeback, but I do not expect the market to reach any all-time high soon.
But I believe it's also good for the industry to slowly recover.
Institutions will enter the market, and we will probably get a more solid industry coming out from this.
Well, we will have to leave it there for today, but Sandy, I appreciate your time.
Thank you so much for joining us and have a great weekend.
Thank you for
