Why? It seems that the market now sees through BTC as PR. If you’re a fintech or tech company, and you announce a credible, strategic BTC plan, market says “OK, this fits". If you’re a food company burning cash and using shareholders to get Bitcoin, market says nope. Markets just aren’t rewarding FOMO-driven, non-core moves. There’s now a credibility discount for companies outside tech/finance. Old-economy companies (food, cars, retail) are expected to have a real business, not just add Bitcoin and hope for magic. They get punished for that,...
I think it is a bias that should be corrected. If not, many businesses will be discouraged from adopting cryptocurrency or even aligning themselves with it when they know they are not in the tech/finance sector.