What are DATCos – and why do they already move US$ 137 billion in crypto?

Digital Asset Treasury Companies (DATCos) are publicly listed companies that hold cryptocurrencies as a strategic part of their reserves. And they are growing rapidly.

📈 In 2020, there were only 4 in the world. By 2025, there are already 142.

💰 The total crypto assets on their balance sheets jumped from US$ 30 million to US$ 137.3 billion.

🏦 Bitcoin represents 82% of these reserves, followed by Ethereum (13%) and Solana (2%).

📊 Only in 2025, these companies invested US$ 42.7 billion in crypto, with a strong acceleration in the second half.

Strategy (formerly MicroStrategy) leads by a wide margin: it has already purchased 640,000 BTC, equivalent to 3% of the global supply, and its stock has risen 19x since 2020.

Other companies have entered the game, such as Tesla, Coinbase, Trump Media, and BitMine Immersion. Many saw their stocks soar after announcing entry into crypto — some even appreciated more than 3,000% in just a few days. But part of that gain evaporated soon after, raising concerns about volatility and speculation.

DATCos are reshaping the boundary between traditional finance and digital assets. Could this be the beginning of a new era of crypto treasuries?