Why digital asset treasuries that only hodl may fall short
Passive crypto hoarding exposes DATs to compliance risks while missing opportunities to provide patient capital. DAT 2.0 invests in infrastructure supporting ecosystem longevity.
Opinion by: Mike Maloney, Chairman of 21 Vault, a company operating in digital asset infrastructure and treasury strategy
Digital asset treasuries (DATs) started back in 2020 with Strategy’s decision to buy and hold Bitcoin (BTC). That fateful decision has created a treasury with a market capitalization exceeding $80 billion.
A flurry of companies began to replicate this buy-and-hold approach. These new DATs raise huge amounts of capital to buy their chosen asset before merging with publicly traded companies, giving investors exposure to crypto via their stocks.