This week on Beyond The Billions, Forbes Deputy Editors Giacomo Tognini and Nina Bambysheva discuss the rise of Digital Asset Treasury Companies (DATs), a global phenomenon where over 200 corporations have announced about $150 billion in capital raises to acquire cryptocurrencies. This trend, pioneered by Michael Saylor’s Strategy (MicroStrategy), has demonstrated staggering success, delivering over 2,000% stock gains for early adopters.
These DATs are not merely passive holding companies; many plan to use sophisticated financial engineering and active strategies, like lending Bitcoin or staking Ethereum, to earn additional yield. The market involves a “whole host of wealthy people” and numerous high-profile billionaires, emphasizing the significance of this institutional shift.
But what are the benefits and risks of investing in these companies versus buying cryptocurrencies directly? Tune in as we discuss the “hunger games phase”, where companies must prove their staying power and edge in this highly competitive, rapidly evolving market.
00:00 This Week In Billionaire
02:35 When It Comes To Crypto, One Month Feels Like A Year
04:05 The $150 Billion Corporate Strategy
06:32 Michael Saylor Goes Beyond Passive Holding
09:03 A Global Phenomenon Attracting Billionaires
17:50 Trading Below True Value: The Valuation Puzzle
To read more about Bitcoin treasuries: https://www.forbes.com/sites/ninabambysheva/2025/10/13/inside-the-150-billion-bitcoin-treasury-boom-shakeout/
11:46
https://www.forbes.com/sites/ninabambysheva/2025/06/18/crypto-goes-corporate-as-a-new-wave-of-public-companies-buy-bitcoin/
To read more about Deel’s latest funding round: https://www.forbes.com/sites/mattdurot/2025/10/20/deels-billionaire-cofounders-just-got-500-million-richer-but-theyre-still-poorer-than-bitter-rival-ripplings-parker-conrad/
To read more about OpenEvidence’s latest funding round: https://www.forbes.com/sites/amyfeldman/2025/10/20/openevidences-daniel-nadler-13-billion-richer-in-just-three-months-after-the-ai-startup-hits-6-billion-valuation/
To read more about John Colgrove and Pure Storage: https://www.forbes.com/sites/aliciapark/2025/10/16/after-four-decades-in-silicon-valley-this-engineer-is-a-new-billionaire-thanks-to-the-ai-boom/
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