New York, Oct. 25 – More than 200 U.S. publicly traded companies with weak earnings and niche product lines have announced pivots to become digital asset treasury companies, shifting their primary focus to acquiring and holding cryptocurrencies. These companies, once involved in sectors ranging from specialty beverages to novelty retail goods, have raised billions of dollars to purchase digital-assets, with a strong emphasis on Bitcoin holdings.
Industry analysts say the surge in these so-called digital asset treasuries is inspired by the success of earlier adopters, but caution that many of the newly rebranded firms still have minimal operating revenue and face uncertain long-term viability.
Background: The trend reflects growing interest in crypto exposure for balance sheets, though skeptics warn the approach echoes earlier “pivot to crypto” waves that ended poorly for many companies.
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