"Radical companies" are rushing into the stock market, as Trump's crypto policies trigger a dramatic shift in the structure of the capital markets.

The aggressive pro-cryptocurrency policies implemented after Trump took office are causing an unprecedented storm in the U.S. capital markets. According to the latest market data, over 250 publicly traded companies have begun incorporating cryptocurrencies into their asset allocations. This phenomenon reflects a sharp increase in investor risk tolerance and deep structural changes in the market.

Policy Shift Spurs Radical Business Models

Trump claims to be the “first crypto president,” and since taking office, he has promoted pro-cryptocurrency legislation, ended previous strict regulations on the crypto industry, and publicly endorsed digital assets multiple times. More notably, he personally launched a meme coin called TRUMP, symbolizing an unprecedented embrace of crypto assets by traditional politicians. Against this backdrop, the crypto industry, once on the fringes of the financial system, is rapidly integrating into mainstream capital markets.

Public Companies Rush to Accumulate Digital Assets

Attracted by these aggressive policies, more and more publicly traded companies are adopting bold asset allocation strategies. Some firms even lack solid core businesses; their main “business model” is holding Bitcoin and other digital assets, betting on their price appreciation. These companies are heavily incorporating cryptocurrencies into their balance sheets to attract investors enthusiastic about digital assets. Such phenomena were rare during past crypto bull markets and indicate a spreading of aggressive market sentiment.

Risks Are Spreading Through the Stock Market

The most concerning development is that crypto asset risks are shifting outward. Compared to previous crypto bull markets, the risk is no longer confined to exchanges and retail traders but is now spreading through listed companies to a broader range of institutional and retail investors. Relaxed regulations, ongoing political endorsements, and aggressive crypto holdings by public companies collectively increase market volatility expectations. A deeper hidden risk is that many investors lack awareness of the crypto exposure behind these companies, with potential valuation and liquidity risks gradually magnifying.

How far this aggressive market movement can go ultimately depends on policy stability and the return of market rationality.