最新报道:Digital Asset Treasuries (DATs), including firms like MicroStrategy and Trump Media, are underperforming bitcoin and its ETFs despite promises of superior returns through leverage and balance-sheet engineering. Bitcoin has risen 23% this year, while most DATs lag, with only a few volatile exceptions beating the benchmark. Critics warn that DATs rely on favorable debt markets and inflated metrics, with structures reminiscent of historical investment booms. Although corporate bitcoin adoption is growing, many DATs fail to generate operational yield, reinforcing the appeal of simpler ETF investments.