最新报道:The summer of 2025 has been defined by the rise of Digital Asset Treasury companies (DATs), which accumulate crypto assets as a core business strategy. Pioneered by MicroStrategy under Michael Saylor, DATs surged in popularity following pro-crypto regulatory shifts under the Trump administration. These firms issue public shares to purchase cryptocurrencies, offering investors regulated exposure to digital assets without direct custody challenges. As of August, 184 publicly traded companies announced plans to raise over $132 billion for crypto acquisitions. Despite risks such as trading discounts to NAV and underlying asset volatility, DATs have positioned themselves at the intersection of traditional and decentralized finance, making 2025 the "DAT summer."