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With the support of the Trump administration, U.S. companies have included Bitcoin and Ethereum in their balance sheets, raising more than $15 billion in 2025 While traditional investors are still hesitating whether to "speculate", a cryptocurrency revolution led by listed companies is quietly unfolding on Wall Street. By 2025, more than 160 listed companies around the world have adopted the "Digital Asset Treasury" (DAT) strategy, including cryptocurrencies such as Bitcoin and Ethereum in their corporate balance sheets, with a total position value exceeding $240 billion. With the blessing of Trump's policies, DAT has become a national strategy The turning point of this trend came in March 2025, when U.S. President Donald Trump signed an executive order formally establishing the "Strategic Bitcoin Reserve," treating Bitcoin as a national reserve asset. This move not only endorses the corporate DAT strategy but also upgrades cryptocurrencies from "speculative tools" to "strategic assets". According to the Latham & Watkins report, the Trump administration has made it clear that "Bitcoin held by the U.S. government will not be sold, but will be held as a reserve asset for a long time." This policy provides strong confidence support for corporate DAT strategies. DAT shares soared, and investors rushed in The stock prices of companies with the DAT strategy have performed amazingly: Strategy (formerly MicroStrategy): 5-year stock price soared 2,461%, far exceeding the S&P 500's 93.1% SharpLink Gaming (SBET): Became the world's largest listed company with ETH holdings after announcing a $425 million fundraising in 2025 Sol Strategies (HODL/CYFRF): Received $500 million in convertible bond financing, focusing on the Solana ecosystem Upexi (UPXI): Deployed $100 million to buy SOL and started generating staking yields What these companies have in common is that they view cryptocurrencies as long-term strategic assets rather than short-term speculative targets. DAT will raise more than traditional crypto VCs in 2025 According to insights4.vc, as of August 2025, public and private companies have raised more than $15 billion through DAT strategies, much higher than the $60-8 billion of traditional cryptocurrency venture capital. This represents a key shift in crypto capital allocation: companies are choosing to hold cryptocurrencies directly rather than invest in crypto startups. Not just Bitcoin: Ethereum and Solana have become new favorites While Bitcoin remains mainstream DAT (with a total value of $215 billion), other crypto assets are also rising rapidly: Ethereum Reserves: The total value exceeded $23 billion  Solana Reserves: Total value of $3.4 billion  BitMine (BMNR) became the largest ETH holding company, holding approximately $500 million in Ethereum  Hyperion DeFi (HYPD, formerly Eyenovia) focuses on the HYPE token of the Hyperliquid ecosystem  Who is participating in DAT? The industry spans technology, aquatic products, and games Surprisingly, the DAT strategy is no longer limited to tech companies but even extends to traditional industries: Nocera Inc. (NCRA): Sustainable Seafood & Recirculating Aquaculture Systems Inc., listed on Nasdaq in 2022 GameStop (GME): Stock price surged after announcing the inclusion of Bitcoin in reserves in March 2025  Tesla (TSLA): An early Bitcoin holder, currently holding over 11,000 BTC  This shows that DAT strategies have crossed industry boundaries and become a new option for corporate financial management. The risks remain, but the trend is clear While DAT strategies offer significant opportunities, experts caution investors to be aware of the risks: Cryptocurrency price fluctuations: Bitcoin and Ethereum prices are still subject to severe fluctuations Regulatory Uncertainty: While supported by the Trump administration, future policy changes are possible Dilution of company fundamentals: Some companies may rely too heavily on the DAT strategy and neglect their core business HashKey Capital CEO Deng Chao said: "Crypto reserve companies with long-term strategies will be able to survive in any market, and the key is to treat crypto assets as long-term holdings rather than short-term trading instruments." Conclusion: The investment paradigm shift in the new era From MicroStrategy's pioneering experiment to now followed by more than 160 companies, DAT strategies have evolved from "crazy bets" to "mainstream financial strategies." Against the backdrop of the Trump administration's clear support and the continuous influx of institutional funds, the DAT holdings of listed companies may become one of the most important investment themes in the next decade. For investors, this is not only a multiple-choice question of "stock or currency speculation", but also a key topic in understanding how companies can reconstruct asset allocation logic in the digital economy era. DAT Digital Asset Reserve Series - Part 2: Trump's New Cryptocurrency Deal: How to Turn Wall Street from "Boycott" to "Embrace"? About Digital Asset Reserve (DAT) Digital asset reserves refer to the financial strategy of companies to include cryptocurrencies such as Bitcoin and Ethereum in their balance sheets as long-term strategic reserve assets. Unlike traditional cash and bonds, the DAT strategy aims to hedge against inflation, diversify assets, and participate in blockchain ecological income (such as staking, validator nodes, etc.). Disclaimer: This article is for educational content only and does not provide any investment advice. All transactions are risky, cryptocurrencies and related contract commodities are highly volatile products, please invest with caution, the maximum loss may be due to the complete loss of principal due to the closure of the exchange. This article does not constitute any account opening advice, please carefully choose a cryptocurrency exchange with security and regulatory guarantees. Original link