Bitcoin steadies as corporate treasuries rotate into Ether and Solana, says Mike Novogratz

Bitcoin is experiencing a period of stability even as corporate treasuries increasingly diversify into altcoins like Ethereum and Solana—a trend that could reshape capital flows and risk profiles across crypto markets. According to Mike Novogratz, CEO of Galaxy Digital, this isn’t a sign of fading interest in Bitcoin, but rather a strategic shift toward a multi-chain ecosystem.

Market Rotation and Corporate Moves

Recent reports highlight notable corporate moves into altcoins:

• BitMine Immersion Technologies increased its Ether holdings by $200 million, bringing its total ETH assets above $9 billion

• Forward Industries allocated $1.65 billion to a Solana-focused treasury

Novogratz interprets this rotation as a maturation of the market—one where companies seek higher returns and broader utility beyond Bitcoin’s store-of-value narrative.

Implications for Traders and Treasuries

For traders, this trend may lead to:

• Increased volatility and trading opportunities across altcoin markets

• More complex derivatives and hedging strategies

For corporate treasuries, it introduces:

• New risk exposures and custody requirements

• The need to reassess smart contract security and multi-chain operational risks

Outlook and Implications

Novogratz expects Bitcoin could see renewed momentum toward year-end—especially if the Federal Reserve cuts rates and regulatory clarity improves. However, he also emphasizes that the move into altcoins reflects a lasting shift toward a multi-chain crypto landscape.

In practical terms, this means treasury managers and traders should:

• Monitor allocation strategies across chains

• Strengthen risk management and custody protocols

• Stay alert to macro signals like Fed policy and regulatory updates