从暴涨2600%到蒸发86% 加密圈最热门交易走向坍塌

Core Insights - The strategy of using company cash to purchase Bitcoin or other digital tokens, initially seen as a lucrative investment, has rapidly turned into one of the worst investments within a few months [2][8] - This approach, pioneered by Michael Saylor, led to over a hundred companies transforming into publicly traded Bitcoin holding platforms, referred to as "digital asset treasuries" [2][8] - Companies like SharpLink Gaming Inc. experienced extreme volatility, with stock prices soaring over 2600% before crashing [2][9] Company Performance - SharpLink's stock has plummeted by 86% from its peak, resulting in a market value lower than the value of its held digital tokens [9] - The current stock price of SharpLink is only 0.9 times its Ethereum holdings [9] - Greenlane Holdings, despite holding approximately $48 million in BERA tokens, has seen its stock price drop over 99% this year [9] Market Trends - Among U.S. and Canadian companies that transitioned to digital asset treasuries (DAT), the median stock price has decreased by 43% this year, while Bitcoin has only dropped about 6% [10] - It is estimated that 70% of DAT companies will end the year with stock prices below their levels at the beginning of the year [10] - Companies that opted for smaller, more volatile tokens instead of Bitcoin have performed the worst [10]