Jeff Dorman discusses the challenges and opportunities for Digital Asset Treasury (DAT) companies by 2026. He argues that DATs need to control and improve the underlying assets they buy, rather than merely acting as marketing agents. A shift towards businesses that generate cash flow to support asset acquisition is essential for future success.

This article discusses the shift in the crypto landscape, comparing it to the evolution of online poker. Opportunities still exist, but the days of quick profits and easy strategies are over. Success now requires more effort, research, and a disciplined approach.