Oh hell no.
Shut 'em all down. They should all be classified as advertent inadvertent investment companies in violation of the '40 Act. (which would have to be preceded by crypto being considered a security, but still)
From Reuters, November 10:
As companies focused on stockpiling bitcoin and other major cryptocurrencies come under pressure amid market saturation and souring sentiment, new entrants are pushing into less popular tokens, stoking worries over increased volatility.
- Bitcoin slump diverting attention to lesser-known tokens
- Private sales to investors raise at least $15 billion this year
- DATs hold significant crypto, potentially impacting coin prices
Buoyed by U.S. President Donald Trump's crypto-friendly stance and inspired by the meteoric success of Michael Saylor's Strategy MSTR.O, the number of publicly-traded companies investing in cryptocurrencies in the hopes they will appreciate has boomed.
As of September, there were at least 200 digital asset treasury, or DAT, companies - mostly focused on bitcoin - with a combined capitalization of around $150 billion, up over threefold from a year earlier, according to an analysis by law firm DLA Piper.
More companies, many of them penny stocks seeking ways to boost profits, are launching daily. But as bitcoin sags, they are turning to esoteric, more volatile tokens in a bid to amplify returns, according to a Reuters analysis of more than three dozen company announcements.
RISKS AHEAD FOR INVESTORS?....
....MUCH MORE
See "MicroStrategy, Bitcoin and Beavers"
May 2022 - "Microstrategy chief: 'Bitcoin is going to go into the millions'" (MSTR)
Sadly, there are no pure-play psychiatric hospital stocks left on the market. They've been absorbed into larger organizations. On the other hand, as grandiosity and risk taking are symptoms of the manic phase of bi-polar disorders we may just be in luck with lithium producers SQM and Albemarle.
And most recently = "Chanos declares victory in his bet vs. Strategy’s Saylor"
