Daily Observation of Cryptocurrency Concept Stocks: Strategy Approaches the 740,000 Holding Milestone, ETH Treasury Enters "Earning Era"

2026-03-11 11:30:58

The global cryptocurrency and stock markets are bidding farewell to simple cash purchases and entering a deep water zone centered around complex financial instruments and multi-asset treasury. MicroStrategy continues to amplify leverage through the ATM mechanism, Strive rapidly ascends to become a major holder through mergers and acquisitions (M&A), while companies led by Sharplink are reshaping the valuation models of publicly traded companies through ETH staking yields.

Daily Observation of Cryptocurrency Concept Stocks: Strategy Approaches the 740,000 Holding Milestone, ETH Treasury Enters

The Evolution of Capital Containers: MicroStrategy's "Perpetual Accumulation" Logic

On March 10, U.S. time, the 8-K filing submitted by MicroStrategy (NASDAQ: $MSTR) once again shocked the market. The company disclosed that in early March, through its ATM (at-the-market) mechanism, it raised funds and purchased an additional 17,994 BTC at an average price of approximately $70,946.

As of yesterday, its total Bitcoin holdings have risen to 738,731 coins. For MSTR, Bitcoin is no longer just a reserve asset but a continuously amplifying "capital container." By binding equity financing with Bitcoin accumulation into a repeatable "capital machine," Strategy is defining a brand new corporate finance paradigm: using capital market premiums to repurchase digitally scarce assets.

Scale Leap: Strive Joins the Global Cryptocurrency Leaders Through Mergers and Acquisitions

Meanwhile, another Nasdaq newcomer, Strive (NASDAQ: $ASST), is achieving leapfrog growth through mergers and acquisitions. Yesterday, Strive completed an all-stock acquisition of Semler Scientific, which not only integrated its business but also directly increased its treasury by over 5,000 BTC.

Post-merger, Strive's total holdings surged to 12,797 coins. This "shell resource + coin treasury" restructuring model demonstrates how listed companies can quickly gain Bitcoin risk exposure through asset mergers rather than relying solely on the secondary market for slow accumulation.

Productive Assets: The Cash Flow Revolution of the ETH Treasury

Beyond Bitcoin, the "productivity" of the ETH treasury began to be validated on March 10. Sharplink (NASDAQ: $SLTK) released its annual performance report, stating that the company has completed a strategic transformation into an institutional-level Ethereum treasury platform, accumulating a total ETH holding of 868,699 coins.

The standout data in its financial report is the monetization: in the fourth quarter of 2025, revenue from on-chain staking reached $15.3 million. Sharplink has proven that ETH is not only a store of value but also a productive asset with dual attributes of "reserve + yield." This model is attracting institutional investors seeking both asset appreciation and cash flow, pushing ETH treasury stocks into new valuation dimensions.

Data source: https://bbx.com/ Cryptocurrency concept stock information database, compiled based on global listed company announcements and SEC/TSE disclosure documents from yesterday.