Crypto Assets open a new era in the financial market, who will dominate the future "Coin Stock Seven Heroes"?

In the U.S. stock market, the "Magnificent 7" (abbreviated as M7) has become a well-known concept, consisting of seven major tech giants: Apple, Microsoft, Amazon, Alphabet, Meta, NVIDIA, and Tesla. As of June 2025, the total market capitalization of M7 reached approximately $14 trillion, accounting for more than 30% of the S&P 500 index market value, and its global influence profoundly shapes the landscape of the tech economy.

At the same time, the Crypto Assets sector is giving birth to a new batch of emerging giants. They occupy a core position in Web3 applications and infrastructure through blockchain technology, and some listed companies have directly purchased Crypto Assets as a strategic reserve. Although the market value and influence of listed companies related to Crypto Assets still lag behind the US stock market's M7, their rapid growth and disruptive potential cannot be ignored. With the maturation of blockchain technology and the increase in global adoption rates, these companies are reshaping the future of finance and technology.

With the emergence of publicly traded companies in the Crypto Assets sector and an increasing number of companies incorporating Crypto Assets into their strategic reserves, many companies have demonstrated the potential to reshape the digital economy landscape. So, can the "coin stock seven heroes" exert influence like the M7 in the US stock market? Next, we will focus on publicly traded companies related to Crypto Assets, analyzing their core businesses, market positioning, and impact on the digital economy to see which companies have the potential to become the "coin stock seven heroes."

Note: Due to market fluctuations, the current market value and prices mentioned in the text may vary. The relevant data is based on the market conditions on the date of publication (June 30, 2025, 19:00, UTC+8).

Strategic Reserve

MicroStrategy Incorporated (Nasdaq: MSTR)

Reserve coins: 582,345 BTC, worth approximately 6.29 billion USD

The market value is approximately $107.234 billion. MicroStrategy is an enterprise software company that has transformed into a Crypto Assets platform by holding around 592,345 coins of Bitcoin, aiming to promote the adoption of blockchain assets by enterprises and strengthen its position in decentralized finance.

In August 2020, MicroStrategy became the first publicly traded company to adopt Bitcoin as a primary reserve asset, launching its "digital gold" strategy. In 2023, it invested over $6 billion to purchase Bitcoin, and in May 2024, it will host the "Bitcoin for Corporations" event to promote corporate Bitcoin investment. In June 2025, it plans to increase its holdings by 10,000 coins and collaborate with a blockchain company to provide enterprise-level encryption data services.

Michael Saylor, the chairman and former CEO of MicroStrategy, is a staunch supporter of Bitcoin. He believes that Bitcoin is a superior store of value, often referring to it as "digital gold," capable of resisting inflation and currency devaluation. His strategic vision has driven MicroStrategy's transformation to adopt Bitcoin as its primary reserve asset, setting a benchmark for corporate diversification of asset allocation.

XXI CEP (Nasdaq: XXI)

Reserve coins: 37,230 BTC, valued at approximately 4.019 billion USD

Reorganization and listing in July-August, currently valued at 12 billion. XXI CEP refers to the Twenty One company, whose original stock code was CEP, and will change to code XXI for listing on the NASDAQ after merging with its parent company. Currently, the Twenty One company has received investments from an investment firm and has also obtained Bitcoin provided by a stablecoin company.

In April 2025, XXI Capital was established through a merger with a certain company's SPAC, holding approximately 42,000 coins of Bitcoin, making it the third largest Bitcoin reserve company in the world. The merger included the purchase of 4,812 coins of Bitcoin (at an average price of about $95,320 per coin) through a stablecoin company, totaling approximately $458.7 million. In June 2025, the company promoted the development of Bitcoin native financial products and planned to enhance the popularity of Bitcoin through content, media, and education.

Metaplanet Inc. (TSE: 3350)

Reserve coins: 12,345 BTC, worth 1.333 billion USD

The market value is approximately $6.25 billion. Metaplanet Inc. is a Japanese investment company that has transformed into a Bitcoin reserve company by holding Bitcoin, aiming to enhance shareholder value and promote the adoption of blockchain assets, consolidating its position in the decentralized finance sector. The company was established in 1999 and its business covers hotel management, Web3-related operations, and provides professional consulting services to assist companies in integrating Bitcoin strategies.

In April 2024, Metaplanet launched a Bitcoin investment strategy, becoming the first listed company in Japan to use Bitcoin as a primary reserve asset to hedge against yen depreciation and high government debt risks. In June 2025, the company increased its holdings by 1,088 coins, bringing its total holdings to over 2,200 coins, making it one of the top ten listed companies globally in terms of Bitcoin holdings. In 2025, the company's stock price surged by 255% due to the Bitcoin investment boom, reaching a historic high of 1,423 yen. Additionally, Metaplanet partnered with blockchain companies to develop enterprise-level Crypto Assets solutions, further promoting Bitcoin adoption in Japan.

SharpLink Gaming, Inc. (Nasdaq: SBET)

Reserve coins: 194,000 ETH, worth 467 million dollars

The market value is approximately $581 million. SharpLink is an online gambling and Crypto Assets management company that focuses on integrating blockchain technology with gambling services to build a crypto financial ecosystem.

In October 2024, SharpLink launched its Ethereum reserve strategy, increasing its holdings to 188,478 ETH (approximately $474 million). In June 2025, all ETH was used for staking, generating a return of 120 ETH, and acquiring a 10% stake in a certain crypto gaming platform, launching a betting platform based on Ethereum, and collaborating with a certain Layer 2 project to develop an on-chain settlement system.

Nano Labs Ltd. (Nasdaq: NA)

Reserve coins: BNB strategic reserve, valued at 160 million USD in BNB and BTC

Market capitalization of approximately $235 million. A Web3 underlying infrastructure service provider, focusing on high-performance computing solutions and dedicated to promoting innovative development in the Bitcoin ecosystem.

By the end of 2024, Nano Labs successively purchased 400 coins of Bitcoin through a certain trading platform, and on June 23, 2025, announced its active application for Hong Kong dollar and offshore Renminbi stablecoin licenses. On June 24, Nano Labs announced a $500 million convertible bond financing plan for BNB strategic reserves and plans to acquire $1 billion worth of BNB through convertible notes and private placements. Regarding long-term goals, Nano Labs plans to hold 5% to 10% of the total circulating supply of BNB.

SRM Entertainment, Inc. (Nasdaq: SRM)

Reserve coin: Invested $210 million in strategic reserve TRX

The market value is approximately $137 million. SRM is a toy and souvenir design company that explores the field of Web3 entertainment and digital collectibles through Crypto Assets investment and blockchain technology.

On June 16, 2025, SRM secured a $100 million equity investment, initiated a reserve strategy for the TRON token (TRX), collaborated with TRON to develop a digital collectibles platform, and planned to go public on Nasdaq through a reverse merger, with the stock price soaring over tenfold.

Web3 Industry Applications

A global leading Crypto Assets trading platform (Nasdaq: COIN)

Market capitalization of approximately $90.2 billion. The platform provides buying and selling services for assets like Bitcoin and Ethereum for retail and institutional investors, lowering the entry barrier to the encryption market.

On April 14, 2021, the platform went public on Nasdaq, becoming the first publicly listed Crypto Assets exchange. In January 2024, it handled $4.6 billion in Bitcoin ETF trading volume. On May 13, 2025, it was included in the S&P 500, with stock prices rising by 8%, and launched an upgraded version of the Web3 wallet, supporting multi-chain NFT transactions.

A retail investment platform ( Nasdaq: HOOD )

The market capitalization is approximately 73.271 billion USD. The platform provides young users with convenient access to the crypto market through crypto asset trading and Web3 wallet services.

In December 2019, the platform launched encryption trading services, supporting Bitcoin and Ethereum. In August 2021, it acquired a company to enhance shareholder interaction. On March 26, 2025, it held a corporate event, announcing the expansion of encryption trading pairs (including Solana and Cardano) and launched a beta version of the Web3 wallet, collaborating with a certain DEX to optimize DeFi trading.

A certain payment and blockchain technology company (NYSE: XYZ)

The market value is approximately 40.979 billion USD. The company provides payment solutions through its payment application, develops decentralized platforms, and promotes decentralized finance.

In 2013, the company launched an application that supports Bitcoin transactions. In 2021, it acquired a company to expand its buy-now-pay-later services. In March 2025, its decentralized platform launched a Web3 payment protocol that supports USDC and Bitcoin settlement, integrates an oracle with a certain blockchain project, and develops a mobile encryption payment application with Solana.

A leading company in the stablecoin sector (NYSE: CRCL)

The market capitalization is approximately $40.153 billion. The USDC issued by the company is a widely used dollar stablecoin, applied in cross-border payments, smart contracts, and decentralized trading.

In July 2021, the company announced a SPAC listing plan, valuing it at $4.5 billion. In June 2024, it launched a USDC payment solution in collaboration with a payment company. On June 5, 2025, it was listed on the NYSE, with the stock price soaring 168% on the first day. On June 17, benefiting from stablecoin legislation, it collaborated with a fintech company to optimize global merchant payments.

A digital asset investment company (TSX: GLXY)

Market cap is approximately $2.614 billion. The company provides crypto asset trading, asset management, and consulting services, promoting the application of blockchain technology.

In 2021, the company was listed on the TSX. In 2024, it launched a $100 million Web3 fund to invest in NFT and Layer 2 projects. In May 2025, it increased its holdings by 5,000 coins and partnered with a certain blockchain project to develop enterprise-level blockchain services.

Certain Crypto Assets trading platform company (SEHK: 0863)

The market capitalization is approximately $1.235 billion. The exchange under the company provides trading services for Bitcoin and Ethereum, and is committed to the development of the Asian Crypto Assets market.

On December 15, 2020, its exchange became the first encryption platform in Hong Kong to obtain an SFC license. In November 2023, a company acquired 30% of its shares. In June 2025, the platform was upgraded to support multi-chain trading and tested the digital Hong Kong dollar with the Hong Kong Monetary Authority.

A certain institution's encryption financial services company ( Nasdaq: AMBR)

Market cap of approximately $1.029 billion. The company provides Crypto Assets trading, wealth management, and custody services through its platform.

In November 2024, the company merged with another company to enhance its digital wealth management capabilities. On March 28, 2025, it went public on Nasdaq and launched a $100 million Crypto Assets fund in May, investing in assets such as Bitcoin and XRP, and obtained a Hong Kong SFC license.

A one-stop digital asset service company (SEHK: 01611)

The market capitalization is approximately $233 million. The company provides data center, SaaS, virtual asset management, trust and custody, over-the-counter trading, and strategic investment services.

In 2020, its exchange obtained a Hong Kong SFC license. In November 2024, it merged with a certain company to enhance its wealth management capabilities. In May 2025, it launched a multi-chain trading platform that supports Bitcoin, Ethereum, and USDT, and applied for a Hong Kong SFC virtual asset license.

Web3 Infrastructure & Service Providers

A certain Bitcoin mining company (Nasdaq: MARA)

The market value is approximately $5.289 billion. The company supports the security of the blockchain network through large-scale mining and holding Bitcoin.

In March 2021, the company was renamed to focus on Bitcoin mining. In December 2023, it acquired two mining facilities from a certain company for $178.6 million. In May 2025, it deployed 15 EH/s of computing power, purchased Avalon A1566 mining machines from a certain company, and collaborated with a certain company to develop green mining facilities.

The company's shareholders include large institutional investors, such as a certain asset management company (holding approximately 15%) and a certain fund company, indicating a strong interest from institutions in Crypto Assets. The involvement of shareholders enhances the company's market credibility and promotes the acceptance of Bitcoin as a corporate asset.

A certain Bitcoin mining company (Nasdaq: RIOT)

Market capitalization of approximately $3.769 billion. The company supports blockchain network security through efficient mining technology and is committed to promoting the development of the Crypto Assets ecosystem.

In 2020, the company transformed into a Bitcoin mining company by acquiring a certain data center. In December 2024, it acquired a certain company to enhance its engineering capabilities. In May 2025, it expanded its mining facilities in Texas, adding 5 EH/s of computing power, and collaborated with a certain company to develop renewable energy mining projects.

A blockchain and high-performance computing technology company (Nasdaq: BTDR)

Market cap approximately 21.82