🧐 Behind the traditional listed companies' rush to allocate encrypted assets | The real institutional bull is just beginning: The transformation of the balance sheet: from gold, Bitcoin to on chain cash flow! DeFi Development has become the world's first publicly traded company to invest in Solana's liquidity staking token, It will adopt LST technology developed by Sanctum and invest a portion of its SOL holdings in dfdvSOL liquid collateral tokens to accumulate staking rewards. Don't underestimate this matter: Yesterday in my previous article, I wrote: The future Bitcoin market is likely to be dominated by institutional pricing, restructuring of chip structure, and reduced intraday volatility. Currently, there is a trend of ETF+MSTR+macro fund allocation. Simply put, BTC is no longer a "retail speculation tool", but an "institutional asset allocation": the funding structure dominated by MicroStrategy, ETFs, and Wall Street is flattening volatility and prolonging cycles. What you see is a sideways trend, while institutions see opportunities for fixed investment. BTC is more like a technology stock, or it may follow a slow bull curve of over ten years. So you will see that in addition to micro strategies and Metaplanets as representatives, more and more traditional capital is visibly starting to bet on pledged income assets on the chain. It's here now! MicroStrategy has evolved from a traditional software company to a BTC investment vehicle by buying Bitcoin; DeFi Development is attempting to replicate this path - only this time, betting on staking derivative assets such as jitoSOL and mSOL. There is a bigger trend hidden behind this: It is highly probable that more and more companies will imitate MicroStrategy's behavior in the future, but asset selection will diversify from BTC to ETH, Staking derivatives, and even high-yield structured products on the chain. The next round of strategic allocation for the company's balance sheet may no longer be gold, but structured income assets such as ETH, stETH, and even LRT and Pendle. Why? ✔ Inflation hedge: Digital assets are "alternative" gold; ✔ On chain returns: The annualized returns of stETH and jitoSOL are not inferior to bonds; ✔ Institutional entry: Cryptocurrency assets are becoming increasingly "legal" and "compliant". So it can be foreseen that—— one ️⃣ early stage BTC buying strategy (such as MicroStrategy) Bitcoin has the highest consensus, controllable volatility, and can tell the story of 'digital gold' well two ️⃣ mid-term Staking derivatives (such as stETH) There is a stable income model that is suitable for increasing cash flow; three ️⃣ later stage Risk staking and profit splitting (such as Pendle, EigenLayer) High returns but complex, requiring professional research and high risk tolerance; If one day you see a US stock company announce: 'We will convert 30% of our cash flow into LSD profit positions, stETH/ETHX/stJUNO...' Don't be surprised; MAKE DEFI GREAT AGAIN Positive for Bitcoin, positive for Ethereum! This day is highly likely to come, even soon.