According to @Andre_Dragosch, Bitcoin Treasury Companies (BTCTCs) are being debated as either a path to corporate BTC adoption or the cycle’s 'new altcoins' due to their indirect exposure to BTC (source: @Andre_Dragosch on X, Aug 30, 2025). For traders, the thread sets up an evaluation of whether BTCTCs behave like equity-based BTC proxies with distinct risk-return profiles compared to holding BTC directly—an issue raised by their characterization as 'altcoins' or worse (source: @Andre_Dragosch on X, Aug 30, 2025).