{"id":441,"date":"2025-06-16T08:55:20","date_gmt":"2025-06-16T08:55:20","guid":{"rendered":"https:\/\/365crypto.org\/id\/2025\/06\/16\/bitcoin-naik-tapi-apakah-perusahaanmu-tenggelam\/"},"modified":"2025-06-16T08:55:20","modified_gmt":"2025-06-16T08:55:20","slug":"bitcoin-naik-tapi-apakah-perusahaanmu-tenggelam","status":"publish","type":"post","link":"https:\/\/365crypto.org\/id\/2025\/06\/16\/bitcoin-naik-tapi-apakah-perusahaanmu-tenggelam\/","title":{"rendered":"Bitcoin Naik, Tapi Apakah Perusahaanmu Tenggelam?"},"content":{"rendered":"<p>Bitcoin sedang naik, tapi beberapa perusahaan justru merosot.<br \/>\nMatthew Sigel dari VanEck memperingatkan: hati-hati!<\/p>\n<p>Banyak perusahaan mengumpulkan dana lewat program ATM untuk beli BTC.<br \/>\nTapi jika harga saham mendekati nilai aset bersih (NAV), nilai bisa terdilusi.<\/p>\n<p>Belum ada perusahaan yang jatuh di bawah NAV secara permanen.<br \/>\nTapi Semler hampir sampai di titik itu.<\/p>\n<p>Langkah Nekat Semler dengan Bitcoin<br \/>\nSemler mulai beli Bitcoin pada Mei 2024.<br \/>\nMereka punya 3.808 BTC senilai lebih dari 400 juta dolar.<\/p>\n<p>Tapi harga saham mereka turun 45% tahun ini.<br \/>\nKapitalisasi pasar sekarang sekitar 434 juta dolar.<\/p>\n<p>mNAV mereka turun ke 0.821x. Ini mengkhawatirkan.<\/p>\n<p>Waktunya Pasang Perlindungan<br \/>\nSemler terus beli BTC dengan uang baru.<br \/>\nInvestor berharap saham akan ikut naik.<\/p>\n<p>Sigel menyarankan: hentikan program ATM kalau mNAV turun di bawah 0.95x selama 10 hari.<\/p>\n<p>Kalau BTC naik, tapi saham tidak? Beli kembali saham.<\/p>\n<p>Kalau kondisi tetap buruk? Pertimbangkan merger, spin-off, atau hentikan strategi BTC.<\/p>\n<p>Bayar Eksekutif Berdasarkan Pertumbuhan, Bukan BTC<br \/>\nSaran Sigel: kompensasi eksekutif harus berdasarkan pertumbuhan NAV per saham,<br \/>\nbukan jumlah BTC yang dimiliki.<\/p>\n<p>\u201cJika harga saham sudah setara NAV, dilusi bukan lagi strategi\u2014tapi perampasan nilai.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin sedang naik, tapi beberapa perusahaan justru merosot. Matthew Sigel dari VanEck memperingatkan: hati-hati! Banyak perusahaan mengumpulkan dana lewat program&#8230;&#8230;<\/p>\n","protected":false},"author":33,"featured_media":440,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[14,35,158,653,583,337],"class_list":["post-441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-berita","tag-bitcoin","tag-investasi","tag-keuangan","tag-pasar","tag-saham","tag-strategi"],"jetpack_featured_media_url":"https:\/\/365crypto.org\/id\/wp-content\/uploads\/sites\/22\/2025\/06\/2-6.webp","_links":{"self":[{"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/posts\/441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/comments?post=441"}],"version-history":[{"count":0,"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/posts\/441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/media\/440"}],"wp:attachment":[{"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/media?parent=441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/categories?post=441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/365crypto.org\/id\/wp-json\/wp\/v2\/tags?post=441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}