Recently, the cryptocurrency market has seen a remarkable trend: large institutional investors are massively purchasing digital assets, forming what's known as "crypto treasury companies." This phenomenon has sparked widespread attention and discussion in the market.

Recently, SHARPLINK GAMING acquired 18,680 Ethereum, becoming an important holder of Ethereum. At the same time, Michael Saylor, known as the "Bitcoin Lord," also made an optimistic prediction, believing that Bitcoin is expected to reach a high price of $100,000. These actions reflect institutional investors' optimism about the Crypto Assets market.

The so-called encryption treasury companies can be understood as "vault managers" of the digital age. Unlike traditional companies that hold cash and gold, these companies choose to hold Crypto Assets such as Bitcoin and Ethereum as strategic assets for the long term. The most representative are MicroStrategy and SHARPLINK GAMING.

The operation models of these companies are quite unique. They raise funds by issuing new shares in the stock market or issuing convertible bonds in the bond market, and then use this capital to purchase Crypto Assets, depositing them into the company's digital asset reserves. The purpose of this practice is multifaceted: on one hand, if the price of Crypto Assets rises, the value of the company's assets increases, which may lead to a rise in stock prices; on the other hand, Crypto Assets are seen as a tool against inflation, while also enhancing the company's influence in the Crypto Assets circle.

However, this strategy also carries risks. These large-scale purchases may drive up the prices of Crypto Assets, attracting more investors to follow, but if these companies engage in large-scale sell-offs, it could also lead to severe market fluctuations.

This new type of asset allocation model represents an innovation in corporate financial management. In the past, companies primarily borrowed funds to expand production or purchase traditional assets such as gold, whereas now some companies choose to use Crypto Assets as reserve assets and build their company narrative around this.

As more institutional investors enter this field, digital assets may gradually become standard allocations in institutional portfolios. This trend is changing traditional investment philosophies and bringing new momentum and challenges to the crypto assets market.

For ordinary investors, closely following the movements of these "Crypto Treasury Companies" may provide valuable market signals. However, when making investment decisions, it is still necessary to cautiously assess risks and view market changes rationally.