Bitcoin Accumulation Strategy Under Threat As Stock Prices Plummet, Says VanEck
VanEck’s Matthew Sigel raises concerns over the dangers of public companies’ Bitcoin accumulation strategy. Sigel warns companies to scale back their Bitcoin buying spree if stock prices falter. In a recent post, VanEck Crypto Research Head Matthew Sigel highlighted the risks associated with public companies’ Bitcoin accumulation approach. Sigel advises these companies to reconsider their BTC strategies in the event of a significant decline in stock prices. He suggests reevaluating methods, stating, ‘That may include a merger, spinoff, or sunset of the BTC strategy.’ Sigel emphasizes the importance of linking executive compensation to net asset value per share growth for companies accumulating Bitcoin, rather than focusing on the size of their Bitcoin holdings or share count. He stresses the need for prudent decision-making and strategic flexibility. Furthermore, Sigel recommends implementing safeguards to mitigate potential risks, such as suspending ATM issuance and prioritizing share buybacks.
In a related development, Semler Scientific, a medical technology firm, has been accumulating Bitcoin since May 24, holding 3,808 BTC valued at $404.6 million. Despite being the 13th largest BTC holder among public companies, Semler’s stock price has decreased by approximately 45% this year, resulting in a market capitalization drop to around $434.7 million. Sigel warns that companies like Semler face heightened risks if their stock prices continue to decline.
As the stock price of Semler (SMLR) faces challenges, its market capitalization relative to Bitcoin holdings has fallen below 1x. On June 13th, 2025, Semler Scientific, Inc. (SMLR) closed at $29.58, showing a 3.77% decrease from the previous close. However, pre-market trading indicated a 4.19% increase to $30.82.
