"The copycat season has arrived?"

This time, however, it's not in the cryptocurrency market but in the "coin-stock" market.

From MicroStrategy's Bitcoin strategy to SharpLink's stock price skyrocketing 10-fold due to its ETH holding plan, 2025 is set to witness a new trend of publicly listed companies "trading cryptocurrencies to save the market."

More and more publicly listed companies are no longer satisfied with traditional asset allocation, but instead include $BTC, ETH, SOL, and XRP in their treasury to reserve, hedge risks, or even for strategic transformation.

In terms of leading companies, MicroStrategy leads with 580,000 $BTC, while MercadoLibre and Coinbase continue to increase their holdings. Block holds a position of 8,584 $BTC, with an accounting gain of 243%.

GameStop, VivoPower, SharpLink, and other formerly delisted stocks on the brink of delisting have reversed their stock prices and attracted capital inflows by launching "holding token transformation" plans.

It's not just traditional internet and crypto-native companies; some banks and financial giants are also starting small-scale experiments. For example, Italy's largest bank Intesa has made its first purchase of Bitcoin, and Virtu Financial uses $BTC as a hedging tool. SharpLink is betting on ETH, VivoPower is shifting to XRP, and Upexi is choosing Solana to build a new financial strategy, showing a trend of multi-chain parallel development.

It's worth noting that the "trading cryptocurrencies" behavior of multiple projects is accompanied by large-scale financing, and the compliance path and strategic implementation are still to be observed.

However, this trend clearly shows that crypto assets are rapidly infiltrating enterprise-level financial systems, moving from financial diversification tools to the core of capital market strategies. "Coin-stock"!