VanEck head of digital assets: Public companies holding bitcoin are approaching net worth parity

Matthew Sigel, head of digital asset research at VanEck, has warned that at least one bitcoin inventory company ($SMLR) is now approaching a flat trade in net asset value. He pointed out that continuing to raise bitcoin through market issuance in this case will dilute rather than create shareholder value. Sigel recommended that companies establish protective mechanisms, including suspending issuance when the share price is below net value, prioritizing stock repurchases and adjusting executive compensation structures. He called on the board to take timely action to avoid repeating the mistakes of mining companies over-issuing shares and excessive executive compensation.