The Next Crypto Leverage Bubble
According to crypto analyst Ran Neuner, crypto treasury companies like SBET and Strategy arent actually driving crypto prices higher because theyre primarily redistribution mechanisms rather than net buyers of digital assets. Instead of purchasing crypto
An episode of the On The Margin podcast, hosted by On The Margin, titled "The Next Crypto Leverage Bubble" was published on July 24, 2025 and runs 26 minutes.
July 24, 2025 ·26m · On The Margin
Episode Description
According to crypto analyst Ran Neuner, crypto treasury companies like SBET and Strategy aren't actually driving crypto prices higher because they're primarily redistribution mechanisms rather than net buyers of digital assets. Instead of purchasing crypto on open markets, these companies allow crypto insiders to exchange their existing holdings for publicly traded shares at premium valuations, essentially selling crypto exposure to retail investors at 2-4 times the underlying asset value.
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