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Listed Companies and the Rise of Altcoin Treasuries

In recent years, corporate treasuries have shifted from traditional cash and bonds toward digital assets, with Bitcoin (BTC) and Ethereum (ETH) leading the way. But a new trend is emerging: publicly listed companies are beginning to diversify further into altcoins, reflecting growing confidence in the broader crypto ecosystem.

From Bitcoin to Altcoins

When MicroStrategy and Tesla first added Bitcoin to their balance sheets, it signaled a paradigm shift in corporate finance. Bitcoin’s narrative as "digital gold" and hedge against inflation made it the first choice for institutional treasuries. However, as blockchain adoption expands, some companies are now turning to altcoins—including Ethereum, Solana, Polygon, and Avalanche—to gain exposure to ecosystems driving smart contracts, decentralized finance (DeFi), and Web3 innovation.