Here is the English translation of the input content, following all specified rules and formatting. **Input Content:** 币股风向标丨Strategy上周投入超20亿美元买入超2.48万枚BTC；Bitmine ETH持仓增加至总供应量的4.37%（5月19日）

Editor's Note: After a brief but strong rebound, the crypto market has once again fallen to the $76,000-$79,000 range. Affected by this, crypto-related stocks are broadly declining, with leading DAT stocks like Strategy and Bitmine nearly wiping out their gains from the past month. Additionally, influenced by various events and the possibility of a Fed rate hike, the Korean financial and US stock markets have also experienced a slight correction recently. Compared to the optimistic signals mentioned in last week's "Crypto-Stock Barometer", negative news such as the US-Iran situation and the appointment of Warsh has followed in succession. In the short term, the crypto-stock sector may still need a catalyst from events like SpaceX's IPO or Anthropic's funding round. A noteworthy policy-level development is that the US SEC may introduce a regulatory framework for tokenized stocks as early as this week, potentially ushering in a new boom period for on-chain securities.

For more information on the crypto-stock market, please visit MSX.com.

Risk of US Stock Correction Surges; Financial Titans Bet on Chip Sector

Morgan Stanley: Risk of a Significant US Stock Correction Soars, 10-Year Treasury Yield Breaks Above 4.5%

According to Morgan Stanley, the "danger line" for US stocks has been breached. Chief Investment Officer and prominent Wall Street bull Michael Wilson warned that if Treasury yields continue to rise and volatility climbs, the US stock market will face its "first significant correction since the end of March." Wilson stated, "If long-term yields rise alongside an increase in bond volatility, we expect the stock market to experience its first notable correction since hitting a bottom at the end of March." Previously, Morgan Stanley had marked the 10-year Treasury yield reaching 4.5% as "a critical threshold where yields could form a more pronounced headwind for stock valuations."

Buffett and Ray Dalio's Q1 Portfolio Movements: Betting on Chip Infrastructure, Reducing Software Stocks, Increasing Concentration

Berkshire Hathaway Q1: Significantly Increased Stake in Alphabet, New Position in Delta Air Lines, Sold Amazon

According to Berkshire Hathaway's Q1 13F filing, the company increased its stakes in stocks such as Alphabet (GOOGL.O) and The New York Times during the quarter. Notably, it added over 36 million shares of Alphabet, increasing its portfolio weighting from 2.04% to 5.93%. It completely exited positions in Amazon (AMZN.O), Visa (V.N), Mastercard (MA.N), UnitedHealth (UNH.N), and others. It reduced holdings in Chevron (CVX.N), Bank of America (BAC.N), and others. The company initiated a new position in Delta Air Lines (DAL.N), purchasing 39.8 million shares valued at approximately $2.65 billion. Overall, Berkshire's US stock portfolio value stood at $26.3 billion at the end of Q1, down from $27.4 billion the previous quarter. During the quarter, it bought roughly $16 billion in stocks and sold about $24 billion, resulting in net sales of approximately $8.15 billion. The number of holdings sharply decreased from 42 to 29, indicating a significant increase in concentration.

Bridgewater Associates' Q1 US Stock Portfolio Valued at $22.4 Billion; Added Chip Stocks, Reduced Software Stocks

Bridgewater Associates, the world's largest hedge fund, released its Q1 13F filing for its US stock holdings as of the end of March. The filing revealed that Bridgewater initiated positions in 214 stocks, added to 292 stocks, exited 261 stocks, and reduced 487 stocks during the quarter. It significantly increased holdings in chip stocks like Nvidia, Broadcom, and Micron Technology, completely exited positions in enterprise software stocks like Salesforce and ServiceNow, and reduced its position in Adobe. As of the end of Q1, Bridgewater's US stock portfolio was valued at $22.4 billion, compared to $27.4 billion in the previous quarter. Specifically, the fund added 827,800 shares of Nvidia, raising its weighting from 2.63% at the end of last year to 3.65%. It added 670,000 shares of Broadcom, increasing its weighting from 1.47% to 2.54%. It also added 586,000 shares of Micron Technology, boosting its weighting from 0.93% to 2.23%. Furthermore, Bridgewater initiated a position in TSMC for the first time, buying 1.077 million shares, which accounted for 1.62% of the portfolio at the end of Q1.

Weekly Updates on Publicly Traded Crypto-Stock Companies

Representative Public Companies Holding BTC in Treasury

Public Companies' Weekly Net BTC Purchases Strongly Rebound to $2.03 Billion, Surging Over 44 Times from Last Week

According to SoSoValue data, as of 8:00 AM Eastern Time on May 18, 2026, the total weekly net BTC purchases by global public companies (excluding mining companies) amounted to $2.03 billion, an increase of 4,403.11% compared to the previous week.

Strategy (formerly MicroStrategy) announced it deployed $2.01 billion (a 4,574.4% increase week-over-week) to purchase 24,869 Bitcoin at an average price of $80,985, bringing its total holdings to 843,738 BTC.

Japanese public company Metaplanet did not purchase Bitcoin last week.

Additionally, four other companies bought Bitcoin last week. Asset management firm Strive announced the purchase of 9 BTC on May 12th, without disclosing the specific amount spent, bringing its total holdings to 15,009 BTC. UK-based Bitcoin company The Smarter Web Company announced on May 12th and 15th that it invested $2.84 million to buy 25 BTC at $81,592.67 and 10 BTC at $79,662, totaling 2,840 BTC. French Bitcoin company Capital B announced on May 18th that it invested $15.02 million to purchase 192 BTC at $78,205.4, bringing its total holdings to 3,135 BTC. Brazilian Bitcoin company OrangeBTC announced on May 18th that it invested $390,900 to buy 5 BTC at $78,180, bringing its total holdings to 3,737 BTC.

As of press time, the total Bitcoin held by the tracked global public companies (excluding mining companies) is 1,113,841 BTC, an increase of 2.37% from last week, with a current market value of approximately $86.16 billion, representing 5.6% of Bitcoin's circulating market cap.

Strive Added 6,001 BTC in Q1, Reported Net Loss of $265.9 Million

Bitcoin treasury company Strive released its Q1 2026 financial report and announced that, effective June 16, 2026, its SATA preferred shares will switch to daily dividend payments on business days, maintaining an annualized dividend rate of 13%. As of May 12, 2026, Strive's Bitcoin reserves reached 15,009 BTC, including approximately 5,048 BTC acquired through the acquisition of Semler Scientific. The company added a total of 6,001 BTC in Q1 2026 and purchased an additional 1,381 BTC in Q2 up to May 12th. The financial report shows that Strive's Q1 GAAP net loss was $265.9 million, of which approximately $295.8 million was related to the decline in the fair value of its Bitcoin holdings.

Representative Public Companies Holding ETH in Treasury

Bitmine Purchased 71,672 ETH Over the Past Week

Over the past week, Bitmine purchased a total of 71,672 ETH. Bitmine currently holds 5,278,462 ETH, valued at $11.56 billion, representing 4.37% of the total ETH supply. Its holdings also include 202 Bitcoin, as well as $200 million in Beast Industries shares, $83 million in Eightco Holdings shares, and $685 million in cash.

Furthermore, Bitmine has staked 4,712,917 ETH, valued at $1.03 billion, generating an annualized staking income of $289 million.

Sharplink CEO: ETH Treasury Companies Diverging from Strategy Model, Focusing More on Staking Yields

Sharplink CEO Joseph Chalom stated that Ethereum treasury companies are gradually deviating from the model of Strategy and Michael Saylor, focusing more on staking yields and maintaining a clean balance sheet rather than relying on complex financing structures.

Chalom believes that Ethereum treasury companies can generate returns directly by holding ETH, thus reducing the need for excessive leverage. He also remarked that only a handful of Ethereum treasury companies will likely survive market downturns.

Additionally, citing BlackRock CEO Larry Fink's previous comments, Chalom described Ethereum as a "tokenized toll road." He pointed out that developments such as the NYSE and Nasdaq advancing 24-hour trading plans, DTCC exploring tokenized collateral, and Bullish acquiring Equiniti will all drive tokenized assets further into the traditional financial system.

Chalom predicts that as stablecoins, tokenized assets, DeFi, and AI applications continue to expand, Ethereum's development path will gradually diverge from Bitcoin's.

Representative Public Companies Holding SOL in Treasury

Solana Treasury Company Upexi Shares Drop 8% After Reporting Q3 Net Loss Widens to $109 Million

Shares of Solana treasury company Upexi fell 8.16% on Tuesday after the company reported its third fiscal quarter net loss widened to $109 million, primarily due to a decline in the value of its cryptocurrency holdings. A Tuesday filing showed the company had unrealized losses of $92.3 million on its digital assets. Despite total revenue increasing 46% year-over-year to $4.6 million, driven by crypto staking income, the company still recorded a loss.

Upexi's results show that as of March 31st, the company held 2.5 million Solana tokens worth over $238 million, making it the second-largest corporate holder after Forward Industries, which holds over 7 million Solana tokens.

DeFi Development Reports Q1 Net Loss of $83.4 Million, Per-Share SOL Holdings Grow 108% YoY

Solana treasury company DeFi Development Corp reported that despite a widening loss in the first quarter, its per-share SOL holdings increased 108% year-over-year, from 0.0322 SOL to 0.0670 SOL. As of May 13th, the company held approximately 2,294,600 SOL and equivalents. CEO Joseph Onorati stated that the company achieved growth through strategies such as internal staking, operating a joint validator with Bonk, and deploying over 25% of its treasury on-chain. He views Strategy's approach as a starting point, not a ceiling. The company's Q1 revenue was $2.66 million, up 827% year-over-year. Its net loss was $83.4 million, compared to a $778,000 loss in the same period last year, primarily due to the decline in SOL's price.

SOL Strategies Appoints Jon Matonis as Chairman of the Board

On May 12th, Nasdaq-listed Solana ecosystem treasury company SOL Strategies announced the appointment of Jon Matonis as Chairman of the Board. Jon Matonis is a founding director of the Bitcoin Foundation and a long-time advocate for financial privacy with decades of industry experience.

Representative Public Companies Holding Altcoins in Treasury

Hyperion DeFi Discloses HYPE Token Holdings Exceed 2 Million, Q1 Net Profit Reaches $8.8 Million

Nasdaq-listed HYPE treasury company Hyperion DeFi released its Q1 financial report, disclosing a net profit of $8.8 million for the quarter, a significant improvement from the Q4 2025 net loss of $39.8 million. Since the end of Q1, the company has added approximately 60,000 HYPE tokens. Its total HYPE token holdings have now surpassed 2 million. Its validator node has been delegated 10.2 million HYPE, ranking among the top six validators, behind only the Hyperliquid Foundation.

Additionally, the company holds 1.92 million KNTQ tokens and 10 million HPL tokens.

Bitwise to Use Portion of Hyperliquid ETF Management Fees to Increase HYPE Token Holdings

Bitwise Asset Management announced that it will use 10% of the management fee income from its BHYP Hyperliquid ETF to hold Hyperliquid's native token, HYPE, on the company's balance sheet. These HYPE holdings will also be staked.

Bitwise stated that since Hyperliquid adopts a "community-first" model where approximately 99% of on-chain revenue is used to buy back and burn HYPE tokens, the company has decided to concurrently hold HYPE. Bitwise's Hyperliquid ETF (ticker: BHYP) was listed on the New York Stock Exchange last Friday, offering investors exposure to Hyperliquid and staking yields.