《The Number of Coin-Stock Companies is Increasing》

On Beijing time, at 6 PM, the listed company Sonnet BioTherapeutics announced it would establish a treasury reserve of $888 million for $HYPE. Their stock $SONN surged 400% from a pre-market price of 5.17 to 21.5, and it is now at 19.

This 888 has a very Chinese characteristic; I seriously suspect it was orchestrated by locals, haha..

The Pandora's box of U.S. stocks opened by MicroStrategy can no longer be contained, and more and more listed companies are trying to ride the wave of Crypto by establishing similar treasury strategies. After all, who doesn't love the theme of turning stone into gold?

However, among these companies, only those that can continuously purchase, demonstrate strong belief, and form deeper binding relationships with the tokens they acquire are likely to be trustworthy and worthy of investment.

MicroStrategy can leverage by purchasing $BTC and borrowing to continue leveraging, due to the consensus around "digital gold," which is something that other altcoins cannot replicate.

A post by @leodeng08 put it well: the market will soon develop the ability to identify which "coin-stocks" are trustworthy.

1) Those bound to on-chain economic systems, with real business and revenue capabilities;

2) Those that do not exploit investors or play PIPE delivery games;

3) Those that can convert on-chain earnings into stable cash flow.

If you are also investing in coin-stocks, especially altcoin stocks, you might want to read this article: