Recently, strange phenomena have emerged in the market: more and more listed companies are stuffing cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) into their own asset 'treasuries.' It's like the owner of a supermarket downstairs suddenly starts researching Bitcoin; traditional companies are collectively playing a new game of 'digital gold,' which is both magical and real.

1. Public Companies Spark 'Coin Hoarding' Craze: The Crypto Adventure of Traditional Enterprises

Imagine this scenario: a company selling fitness equipment splurges 500 million on AI tokens, while a restaurant chain considers paying salaries in Bitcoin—this isn't a sci-fi fantasy but a reality unfolding.

Data Speaks: A total of 154 listed companies globally have invested in Bitcoin, with total holdings reaching 76 billion USD. Among them, the 'leading brother' MicroStrategy holds more Bitcoin than the gold reserves of many small countries, taking 'all-in crypto' to new heights.

2. Behind the Scenes: The 'Strategist Game' of Crypto VC Titans

Public companies collectively 'wake up' to embrace crypto, backed by a group of 'crypto strategists'—professional crypto venture capital firms that specifically design 'digital asset strategies' to push traditional enterprises into the crypto lane.

1. Pantera Capital: Bitcoin 'Missionary'

This institution is considered the 'gold medal coach' of the crypto circle, focusing on teaching public companies how to navigate Bitcoin. For example, it guides Twenty One Capital to replicate the MicroStrategy model and even designs 'Solana strategies' for companies—the reasoning is straightforward: rapid gains, high volatility (more profit opportunities), and the ability to earn interest, laying bare the crypto speculation logic for traditional enterprises.

2. Galaxy Digital: Crypto Advisor Linked to 'Trump'

Recently helped a Trump-affiliated company design a 2.5 billion USD BTC reserve plan, and conducted crypto payment experiments for companies like GameStop, making it a seasoned mentor in 'crypto transformation' for public companies, skillfully blending political momentum with crypto strategies.

3. Animoca Brands: Game Institution Transitions to 'Crypto Consulting'

Originally famous for game investments, now transformed into a 'crypto consultant.' Partnering with a restaurant company, they lavishly purchased 5,000 Bitcoins and even established a 'Bitcoin Vision Committee'—similar to a crypto version of a 'Culinary Strategy Department,' blending different sectors creatively.

4. Asian Influence: Sora Ventures' 'Bitcoin Treasury' Strategy

Specializing in the Asian market, promoting the 'Bitcoin Treasury' model. Helping Japanese company Metaplanet's stock price surge tenfold in a year, now aiming to replicate success in Hong Kong and South Korea, using crypto assets as a catalyst for corporate valuation.

3. New Play Styles Showcase: Creative Operations in Crypto Assets

Public companies engaging in crypto have long surpassed mere 'buying':

Using Solana tokens as collateral to issue bonds, leveraging crypto assets to pry into traditional financial leverage.

Specifically hoarding AI tokens, betting on trending sectors;

Developing Bitcoin financial derivatives to bring creativity to digital gold;

The most outrageous case is a company transforming into a 'Bitcoin Bank,' with stock prices skyrocketing by 700%—the capital market's enthusiasm for 'crypto stories' is evident.

4. Insights for Ordinary Investors: Opportunities and Risks Coexist

1. Focus Signals: The sectors collectively laid out by public companies often serve as industry trend indicators, worthy of research and tracking.

2. Beware of Riding the Hype: Many companies are merely leveraging crypto concepts to hype their stock prices, with actual business ties to crypto being weak; proceed with caution.

3. Respect the Risks: The crypto market is highly volatile, even publicly traded companies can fall into traps and get 'cut.' Ordinary investors must act within their means.

This wave of 'collective coin speculation' by public companies resembles a financial experiment of the 21st century, akin to a 'digital gold rush'—except this time, what is being mined is on-chain gold. As for whether it ends in profits or leads to becoming 'crypto fodder,' only time will tell.