📍 Crypto Treasury: A Boost or a Ticking Time Bomb?

📌 From MicroStrategy turning itself into a massive BTC treasury, the DAT (Digital Asset Treasury) model is spreading quickly: companies are accumulating BTC, ETH, TON… then using stock as a "cover" to attract capital and loop back to buy crypto.

📌 Bright Side: creates new demand, boosts token prices, brings traditional capital into crypto.

📌 Dark Side: many weak companies, unrelated to blockchain, are jumping in to pump their stocks, even turning self-issued tokens into "treasury assets."

📌 The scale of DAT outside MSTR is currently ~32B USD (<0.83% of crypto market cap) so it hasn't created systemic risk yet, but if this movement is abused, a bubble could burst at any time. Vitalik warns: excessive leverage from DAT could definitely shake the entire ecosystem.