Bitcoin digital asset treasury (DAT) companies are under scrutiny as the crypto market experiences a downturn, with MicroStrategy's share price dropping by 40%. Elliot Chun of Architect Partners argues that the Bitcoin treasury model remains robust, describing the current period as the most exciting for BTC DATs. Chun categorizes DATs into four groups and anticipates industry consolidation, predicting that only a small percentage will outperform major indices over the next decade.