Firms Flock to Crypto Treasuries with Ethereum and XRP Gains

Publicly traded firms are increasingly adding crypto tokens to their balance sheets in addition to Bitcoin. This trend is led by Strategy, formerly MicroStrategy, which has bought over $53 billion worth of BTC since 2020.

Michael Saylor, co-founder of Strategy, popularized the digital asset treasury with his firm's purchases. Now, other firms are following suit, including those that have added Ethereum and XRP to their balance sheets.

Solana, the seventh-largest crypto asset by market capitalization, is gaining popularity as a destination for these treasury strategies.