The Bitcoin Society (TBSO), a Bitcoin treasury firm backed by Ledger co-founder Éric Larchevêque and former NBA star Tony Parker, dropped its BTC reserve plan after Bitcoin's sharp decline hurt investor appetite.
Ledger co-founder Éric Larchevêque's TBSO gave up on its Bitcoin treasury strategy after falling crypto prices made it harder to raise money for BTC purchases, Bloomberg has learned.
Speaking with Bloomberg, Larchevêque said the decision was made in Q1, when Bitcoin price fell more than 20% and investor appetite for Bitcoin-focused listed companies cooled.
Éric Larchevêque
The plan was similar to the model made popular by Strategy, the largest Bitcoin treasury company with over 818,860 BTC.
For TBSO that model depended on frequent and large fundraising rounds. Larchevêque said that became difficult as crypto prices fell and the listed Bitcoin treasury trade lost momentum.
Larchevêque still said he believes in Bitcoin long term and sees it as a haven asset that could exceed €1 million, or about $1.18 million, within a few years. But he also said that timeline doesn't match the company's immediate needs.
- Established in 2025, The Bitcoin Society was formed through the takeover of Société de Tayninh, a dormant company listed on Euronext Paris.
- The stock remains thinly traded, with about 400 shares changing hands in Paris on Monday and a market value of €53 million, according to Bloomberg.