Fernando Nikolic: 12 companies from 2025 bitcoin treasury cohort have sold all their bitcoin

Fernando Nikolic: 12 companies from 2025 bitcoin treasury cohort have sold all their bitcoin
Twelve treasury firms from 2025 cohort sell bitcoin

Twelve companies in the so-called 2025 class of bitcoin treasury holders have sold all their bitcoin holdings. Fernando Nikolic, founder of Perception, stated that while he had previously anticipated a second wave of such companies to move faster, this trend has mostly involved selling rather than accumulating.

Nikolic recently commented on the launch of two Nasdaq-listed ETFs by Franklin Templeton, which invest 95% in U.S. stocks and 5% in bitcoin, using stock dividends to purchase additional bitcoin holdings. He also noted the limited functionality of HSBC’s RedCoin stablecoin, observing it cannot transfer between the PayMe app and HSBC’s main Hong Kong app. These developments reflect Nikolic’s ongoing focus on digital asset infrastructure and its operational challenges.

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