Crypto Goes Corporate: The $100 Billion Bitcoin Boom That No One Saw Coming
According to Galaxy’s latest scandal—er, study—there’s a new breed of firms, dubbed Digital Asset Treasury Companies, or DATCOs for short, who are hoarding nearly 792,000 BTC—roughly $93 billion—and 1.31 million ETH, which is a modest $4 billion. Because of course, nothing says stability like stacking digital coins with a jazz hand. These companies are flirting with about 4% of all Bitcoin and 1.1% of Ethereum’s supply, carving out a slice of the crypto pie while playing with their treasury like a cat with a ball of yarn—only this yarn is worth billions. They’re mixing digital gold, cash, and maybe even some shiny trinkets, staking ETH like some high-stakes poker players trying to turn idle assets into even more idle assets. 🃏