Bitcoin Reaches $80,000 but Fails to Boost Treasury Premiums for MicroStrategy, Twenty One Capital, and Metaplanet

Despite Bitcoin hitting the $80,000 mark, companies like MicroStrategy, Twenty One Capital, and Metaplanet continue to face funding challenges. These firms are struggling with the combined pressures of common-equity discounts, debt obligations, pledged assets, and share dilution, which have prevented a recovery in their BTC treasury premiums.