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

A new trend is spreading: publicly traded companies are pouring billions of USD into crypto as treasury assets (Digital Asset Treasury – #DAT ). This trend originates from Michael Saylor with MicroStrategy, turning Bitcoin into a "vault" and driving stock prices up sharply. By 2025, not only BTC, but many businesses will also accumulate $ETH , SOL, $BNB , TON, $SUI ..., turning DAT into a "turbo version ETF".

The obvious advantage: DAT creates a large demand for crypto, helping token prices rise, paving the way for traditional capital (pension funds, insurance...) to access indirectly through the stocks of DATs. The loop of issuing stocks – accumulating more coins – increasing NAV has caused many companies like Strategy, BitMine, SharpLink... to report extraordinary growth.

But the downside is becoming increasingly evident. Many small companies, suffering losses, rush into #FOMO , inflating stock prices to raise capital for buying coins. In some cases, there are suspicions of self-trading, turning shareholder money into a tool for inflating their own token prices, such as World Liberty Financial (Trump family, WLFI) or Tron Inc. (Justin Sun, TRX). In reality, a crash has occurred after the price inflation, leaving retail investors at risk.

According to #GalaxyDigital , the new DAT assets account for 0.83% of crypto market capitalization (~32 billion USD), with a direct impact still small. However, if the trend explodes, bubbles could accumulate rapidly. Vitalik Buterin has also warned that DAT could turn crypto into a "leverage game out of control".

👉 In the short term, DAT helps coin prices surge. But in the long term, the big question is: is this a new capital door or a ticking time bomb waiting to explode?