Scaramucci Predicts End of Bitcoin (BTC) Treasury Trend as Lingerie Fighting Championships (BOTY) Adds $2M

According to @rovercrc, SkyBridge Capital founder Anthony Scaramucci believes the corporate trend of adding Bitcoin (BTC) to company treasuries is temporary and will 'fade' as investors can purchase the asset directly. In an interview with Bloomberg, Scaramucci contrasted this outlook with the unique success of Michael Saylor's MicroStrategy (MSTR), which has other business lines. Despite this prediction, the trend continues to expand beyond pioneers like MSTR and Semler Scientific (SMLR). In a recent development, Lingerie Fighting Championships (BOTY) announced plans to add up to $2 million in BTC to its treasury, with its CEO citing a belief in Bitcoin's significant growth potential. This strategy of converting cash holdings to BTC mirrors approaches by other firms aiming to capitalize on the digital asset market.
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Corporate Bitcoin Treasuries: A Fading Fad or an Evolving Strategy?
The debate over corporations using Bitcoin (BTC) as a primary treasury reserve asset has intensified, fueled by conflicting signals from institutional players and niche market adopters. Anthony Scaramucci, founder of SkyBridge Capital, recently cast doubt on the longevity of this trend. In a notable interview with Bloomberg, Scaramucci suggested the wave of companies mirroring MicroStrategy's (MSTR) pioneering approach is a "replicative treasury company idea" that "will fade." He argues that investors will eventually question the premium paid for a company's stock when they could acquire BTC directly, bypassing the associated corporate overhead. This perspective challenges the very foundation of what has become a powerful market narrative since Michael Saylor first began aggressively accumulating Bitcoin for MicroStrategy's balance sheet in 2020, a move that sent its stock price soaring and created a new blueprint for corporate finance.
Scaramucci's Skepticism vs. Saylor's Success
The success of Michael Saylor's strategy is undeniable. By transforming MicroStrategy into a de facto Bitcoin investment vehicle, the company captured immense investor interest. This playbook was subsequently adopted by other firms, including medical device maker Semler Scientific (SMLR) and Tokyo-based Metaplanet (3350), each seeking to leverage BTC's potential for their shareholders. However, Scaramucci highlights a crucial distinction, noting that Saylor’s venture is multifaceted with other product lines, making it a more complex case than simple BTC holding. His caution to investors is to "look through the underlying costs associated with each one of these treasury companies." This sentiment serves as a critical risk assessment for traders evaluating these so-called Bitcoin proxy stocks. The key question for the market is whether these companies offer genuine, value-added exposure or are simply a less efficient, more expensive way to own Bitcoin.
From Tech Giants to MMA Leagues: The Trend Diversifies
Just as prominent voices like Scaramucci question the trend, it continues to find new and unexpected proponents. In a surprising move, Lingerie Fighting Championships (BOTY), a Las Vegas-based MMA league, announced its own Bitcoin treasury strategy. The company plans to acquire an initial $230,000 worth of BTC, with a goal of holding up to $2 million within six months. This decision aligns with the company's expansion into the United Kingdom, with sold-out events scheduled for early July. In comments provided to the media, CEO Shaun Donnelly expressed a strong conviction in Bitcoin's future growth, stating, "we wanted to get in while we still can." Unlike firms that pivot entirely to become Bitcoin development companies, LFC appears to be following the Tesla model, strategically converting a portion of its cash reserves into BTC while continuing its core business operations. This move, while small in dollar terms, signifies that the corporate adoption thesis is still permeating diverse sectors of the economy, providing a bullish counterpoint to institutional skepticism.
Market Reaction and Trading Analysis for BTC and Major Altcoins
This ongoing corporate narrative provides a complex backdrop for Bitcoin's current price action. Recent trading data shows BTC maintaining a remarkably high valuation, with the BTC/USD pair trading at $108,182.41 and the BTC/USDT pair at $108,039.80. The asset has demonstrated relative stability in the last 24 hours, with a tight trading range between $107,837 and $108,325. This consolidation above the psychological $100,000 level could be interpreted in two ways. On one hand, it reflects strong underlying support, potentially bolstered by continuous, albeit diversifying, corporate and institutional interest. On the other hand, a failure to break higher could signal market exhaustion, lending credibility to Scaramucci's thesis that the excitement may be waning. For traders, the key support level to watch is near the 24-hour low around $107,800. A break below this could trigger a deeper correction, while a sustained hold might build a base for the next leg up.
Altcoin Opportunities: AVAX, XRP, and LINK Show Strength
While Bitcoin consolidates, several major altcoins are showing signs of independent strength, presenting potential rotation plays for traders. Avalanche (AVAX) has been a standout performer, with the AVAX/BTC pair surging an impressive 6.73% to 0.00022670 BTC. This indicates that capital is flowing from Bitcoin into AVAX, with traders potentially seeking higher beta plays. The pair traded from a low of 0.00021210 to a high of 0.00022890, suggesting strong bullish momentum. Similarly, XRP has posted solid gains, with the XRP/USDT pair climbing 2.32% to $2.2676 on significant volume. Chainlink (LINK) also shows relative strength against Bitcoin, with the LINK/BTC pair rising 1.01% to 0.00014900. In contrast, Ethereum (ETH) appears more tethered to Bitcoin's price action, with the ETH/BTC pair remaining relatively flat. This divergence suggests that traders are becoming more selective, favoring altcoins with strong individual narratives or technical setups over a broad market rally. The outperformance of assets like AVAX and XRP while BTC ranges could signal the early stages of a mini altcoin season, offering tactical opportunities for those looking beyond the market leader.
Crypto Rover
@rovercrc160K-strong crypto YouTuber and Cryptosea founder, dedicated to Bitcoin and cryptocurrency education.