BitBridge Makes Bold Move: Going Public as Pure Bitcoin Treasury Play

Wall Street meets Satoshi's vision as BitBridge files for IPO—staking its future entirely on Bitcoin's volatility.

The 'pure BTC treasury' model turns corporate balance sheets into a crypto bull's dream. No hedges, no altcoins—just unadulterated Bitcoin exposure.

Analysts whisper about 'reckless' concentration risk. Traders counter that it's the ultimate inflation hedge—assuming regulators don't torpedo crypto first.

One thing's certain: this IPO will test whether institutional investors truly believe 'number go up' is an investment thesis.

BitBridge focuses on BTC as a pure-play

BitBridge, under its CEO Paul Jaber, is a pure-play treasury company with no previous business. The approach is similar to Strategy’s Bitcoin maximalism. BitBridge has launched the ‘Bitcoin is Life’ campaign to drive adoption and show long-term confidence. 

In addition to building a BTC treasury, BitBridge aims to launch a Bitcoin-based financial system. The Bitcoin Respect Loan product aims to reshape finance by using BTC collaterals. Unlike DeFi and other experimental lending practices, the Bitcoin Respect Loan aims to mimic the more predictable terms of traditional finance. 

The terms of BitBridge will treat BTC as a fundamentally sound money collateral, instead of a volatile and risky asset. As a result, interest rates will be at the lower range of traditional mortgage lending, with multi-year terms. The program aims to avoid predatory liquidations, allowing holders to tap the value of their BTC without forfeiting the assets easily. 

“At BitBridge we say ‘Bitcoin is Life’ and our loan program is designed to give you the best life possible,” said Jaber.

As a treasury company, BitBridge has not yet disclosed its holdings. Some of the reserves may come from collaterals. The company has not posted any public wallets, which in the case of treasury companies is considered a security strategy. 

Are BTC treasury companies reaching their peak? 

For the week ended August 2, the 25 leading treasury companies added 33,180 BTC. The purchases were not equally distributed, as some companies bought a few coins to gain exposure. Not all companies are able to raise significant funds and build treasuries at scale. 

Currently, the cutoff for entry into the top 100 list of treasury companies is just 30 BTC, allowing even minor entities to tweak their balance sheet. 

The CEO of Galaxy Digital Mike Novogratz considers the current market a peak for treasury companies. According to a recent Bloomberg report, Novogratz believes the Gold rush to announce treasuries will reverse soon. In the past weeks, Metaplanet and Strategy continued expanding their treasuries, though new financing and purchases may face headwinds.

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