Corporate Bitcoin Treasuries Move Beyond HODL to Yield, Hedging, and Share Buybacks Amidst Widening NAV Discounts.

Bitcoin treasuries are moving beyond a simple "buy and hold" approach, with companies exploring strategies to manage their BTC like a treasury-grade asset. A firm founder, Thomas Chen, proposes a three-pronged approach: earning conservative yield, hedging against drawdowns, and diversifying risks. Another expert, Spencer Yang, suggests that companies with larger treasuries can negotiate better terms and justify dedicated risk teams, while smaller firms may need to keep most of their BTC idle. Selling a chunk of BTC to buy back outstanding shares could also be a strategy to defend the net asset value.