[A baby investor's journal] I've been reviewing multiple decks for BTC, ETH, and SOL treasuries. It's clear the institutional wave of DATs is in full swing with firms diversifying across majors. It feels saturated at times, and I'm skeptical this trend will continue if the treasury companies don't begin to differentiate themselves. The strategy is both high reflexive up and down. The potential game changer is Trump's Strategic Crypto Reserve, which includes ~$24B of BTC and ETH, SOL, XRP, and ADA. I think there will be a flight to quality where there will be regional successes for BTC but only a handful of winners in ETH and SOL that are led by the strongest teams and investment strategies. In particular yield-generating assets like SOL, both from staking and DeFi, can drive altcoin treasury adoption even as BTC continues to shine.