"Some Crypto Treasury Firms Could Become the Berkshire Hathaway of the Crypto World"

Crypto treasury firms (Crypto Treasury Firms) could establish themselves as a long-term growth driver for the blockchain ecosystem.

On the 29th (local time), CoinDesk reported that Ryan Watkins, co‑founder of Syncracy Capital, said, "Digital asset treasury (DAT) firms already hold crypto assets totaling $105 billion, including Bitcoin (BTC) and Ethereum (ETH)," and added, "Some firms can grow into long-term economic actors that, beyond simple buying, allocate capital, run businesses, and participate in governance." He further elaborated, "Some DAT firms may influence policy or product direction within the ecosystem."

He said that treasury firms holding Ethereum and Solana (SOL) have particular advantages. Watkins said, "Smart-contract-based tokens like Ethereum and Solana can be used in various ways—staking, lending, governance participation—enabling firms to turn their assets into revenue-generating balance sheets." He went on to predict, "Successful DAT firms will resemble a structure that mixes closed-end funds, REITs, banks, and Berkshire Hathaway's compound-growth model." Berkshire Hathaway is a leading U.S. investment holding company led by Warren Buffett.

However, he warned, "Not all DAT firms will survive," and added, "First-generation firms that focus on financial engineering and lack real operational capabilities are likely to disappear as the market normalizes."

He also predicted that while intensified competition will bring mergers and acquisitions and bold experiments in capital management, the ultimate winners will be firms that can create a virtuous cycle by turning cash flow into token accumulation, product development, and ecosystem expansion. In the long term, only DAT firms with the best operational capabilities can grow into the blockchain's 'Berkshire Hathaway.'