Since a few days ago, a listed company bought $ETH , and since then, there have been consecutive instances of listed companies purchasing large amounts of coins. Today, I saw companies buying $SOL and $TRX . Everyone believes that they are hoarding coins to position themselves, but isn't this also a carefully orchestrated capital game?

They are ambushing their own stocks while waiting to announce the coin purchase news to pump the price. This model mimics the operations of MicroStrategy; after all, MicroStrategy has made a fortune with this tactic, and now everyone wants to ride the wave and share in the profits. Moving forward, more listed companies will likely adopt this tactic, but as more people join in, it will become less effective, just like the score inflation by a certain Alpha — the early participants can still profit, but it becomes increasingly difficult for those who come later.