Crypto Treasury Market 2026 Consolidation

BTCS's Chief Strategy Officer Wojciech Kaszycki states that the crypto treasury market will consolidate this year amid a market downturn. Companies with operations will merge or acquire those trading below net asset value (NAV).

BTCS Strategist Kaszycki: Cash Flow Generators Will Win

Businesses generating cash flow, such as validator services or public and private credit instruments, are in an advantageous position compared to those just accumulating crypto. Kaszycki states that consolidation will strengthen by creating synergies: “Two plus two sometimes equals six or more.” In 2025, share prices of crypto treasury companies fell below their balance sheet crypto values; this decline was before the October crypto crash. Consistent with the latest BTC detailed analysis data: BTC price 65.700$, 24h +0.71%, RSI 38.10 (oversold), downtrend and bearish Supertrend. Supports: S1 64.320$ (strong, 75% score), S2 60.000$. Resistances: R1 68.086$ (84% score).

Mt. Gox Payments and Market Downturn Impact

The ongoing payments from the defunct crypto exchange Mt. Gox are accelerating consolidation by triggering the downturn at the beginning of 2026. In this environment, companies below NAV offer buying opportunities.

UAE Bank's BTC Treasury Move

The United Arab Emirates' second largest bank with $272 billion in assets is setting an example with balance sheet crypto integration. This indicates that institutional entries will support consolidation. Cash flow-focused models are standing out.

RWA Tokenization and MicroStrategy Strategy

Tokenization of public and private credit instruments on blockchains (RWA) will grow in the next 24 months and be used as collateral on DeFi platforms. The world's largest Bitcoin (BTC) treasury company MicroStrategy (Strategy) advocates inclusion in MSCI indices by offering investors credit-like and fixed-income instruments. The company emphasizes that treasury operations provide various economic exposures to BTC. Ideal context for BTC futures.

An overview of the tokenized private credit market. Source: RWA.XYZ

ALT coin analyses also support RWA growth.