Crypto analyst James Check warns that the Bitcoin treasury strategy may not have as long a lifespan as anticipated, particularly for new entrants lacking a competitive edge. He indicates that established firms have garnered investor favor, making it difficult for new companies to gain traction. Check suggests that the Bitcoin treasury strategy may already be reaching its limits, as evidenced by the number of entities adding Bitcoin to their reserves. Although Bitcoin's price remains high, he believes market saturation could lead to struggles for newer firms that attract retail speculative investments. Additionally, some industry experts caution that several companies are entering the market without sufficient risk management or understanding of the long-term implications of Bitcoin treasury strategies. A ripple effect could occur if these smaller firms fail, potentially harming Bitcoin's reputation in the wider market. Overall, there seems to be a trend toward consolidation, where weaker companies may be acquired by stronger players, suggesting a shift in the strategic landscape for Bitcoin treasury firms.

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