Bloomberg Crypto

Digital Credit Is the Latest Code Word for Leverage Among Crypto Treasury Companies

Digital-asset treasuries are increasingly turning to the credit markets.
Signage for Metaplanet Inc. during the Bitcoin Asia conference in Hong Kong in August 2025.Photographer: Chan Long Hei/Bloomberg
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Suvashree Ghosh and Melos Ambaye write about digital-asset treasuries increasingly tapping credit markets.

The funding playbook for digital-asset treasuries is shifting — and with it the risk profile of Bitcoin exposure in credit markets.