U.S. crypto asset manager Bitwise says most digital asset treasury (DAT) companies are likely to be taken over by bigger players as the sector starts to shrink.
In an X post on Nov. 24, Bitwise CEO Hunter Horsley suggested that it’s still early days for DATs and that they’re on track to become operating companies that will “acquire and consolidate” smaller private crypto firms.
The X post was in response to Bitwise chief investment officer Matt Hougan’s Nov. 23 thread in which he said size will ultimately determine which DATs survive. Larger firms can issue debt, lend crypto, access deeper derivatives markets or even pursue discounted acquisitions, Hougan wrote.
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