From Wall Street’s whispers to blockchain’s biggest whales — why Pantera thinks DATs will outpace your favorite ETF.
Forget your vanilla spot ETF. Digital Asset Treasury firms are public companies hoarding crypto — but instead of just sitting on it, they put it to work. Think staking rewards, DeFi yield farming, convertible bonds, even issuing stock at a premium to buy more tokens. The result? Per-share crypto exposure that grows over time — giving investors leveraged upside without touching a wallet.
Pantera isn’t alone. Stan Druckenmiller, Bill Miller, ARK Invest — they’re all sliding capital into these treasury plays. DATs span the U.S. and U.K., stacking Bitcoin, Ether, Solana, and more. The pitch is simple: Why buy 1 BTC if you can own shares in a company that keeps buying more BTC for you?
This is Wall Street meeting DeFi’s degens — and everyone’s betting the same way: that crypto’s next leg up will make these treasury firms the hottest trade since the 2021 NFT boom. But the leverage cuts both ways. If the market turns, the fall could be as dramatic as the rise.
Pantera Capital is dropping 300M on public companies hoarding and leveraging crypto treasuries, convinced they’ll outperform ETFs. BitMine is the star, holding 1.2M ETH and delivering a +1,300% stock surge. The upside? Massive. The risk? Also massive.
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