PANews reported on December 29th, citing Cointelegraph, that industry executives say the outlook for crypto asset treasury companies (DATs) in 2026 is bleak, with many large companies experiencing significant stock price declines. MoreMarkets co-founder and CEO Altan Tutar stated that as market competition intensifies, most Bitcoin treasury companies will disappear along with other crypto asset treasury companies, with altcoin-focused DAT companies being the first to go out of business. Companies that can provide additional value and deliver stable returns are more likely to survive. Solv Protocol co-founder Ryan Chow stated that by early 2025, the number of companies buying and holding Bitcoin had increased from 70 to over 130 by mid-year, but DAT companies "are not a panacea for unlimited dollar growth," and many are unlikely to "survive the next market downturn." Those that do survive will view their Bitcoin holdings as part of a broader yield strategy, rather than as a temporary store of value. DAT companies should not be content with simply holding Bitcoin but should consider actively managing it as digital capital within a transparent, yield-generating system. First Digital CEO Vincent Chok stated that successful Bitcoin DAT companies have comprehensive strategies and liquidity, treating Bitcoin only as part of their financial plans. Investors favor cryptocurrency ETFs, and the DAT model needs to evolve to meet traditional financial expectations.