$100B in Crypto? How Digital Asset Treasury (DAT) Stocks Became the Hottest Trend in Finance
What Are Digital Asset Treasury Companies (DATs)? Digital Asset Treasury companies (often called DATs or DATCOs) are publicly traded firms whose core strategy is to hold crypto as a corporate treasury, instead of—or alongside—cash or traditional assets coindesk.com marketswiki.com. In practice, a DAT will raise capital (via stock or bond offerings) and immediately use the proceeds to buy digital assets like Bitcoin (BTC), Ether (ETH) or other tokens. These companies may have little or no traditional business; their “product” is largely the crypto on their balance sheet. For example, MicroStrategy (now branded as Strategy) famously shifted from software to crypto