Public Companies' Layout of AI Tokens: Risks and Opportunities Coexist

Since 2020, an increasing number of publicly listed companies have begun to incorporate crypto assets into their reserves, a trend that has expanded from the initial focus on Bitcoin to a broader range of cryptocurrencies. By 2025, the number of companies holding crypto assets has increased from single digits to dozens.

This trend of holding coins has now diversified into several directions: Bitcoin remains the most secure choice, while Ethereum and Solana have also attracted a significant following due to their widely recognized foundations. Today, this trend has even extended to the realm of smaller market cap altcoins, such as Fetch.ai ($FET) and Bittensor ($TAO) in the AI sector.

However, the volatility of altcoins is significantly higher than that of Bitcoin. Historical data shows that ETH fell by about 26.7% in a single day in June 2022, and SOL dropped by 43% in November 2022 due to the FTX bankruptcy. The vulnerability of AI coins is even more apparent, as the recent release of the DeepSeek open-source AI model triggered a collective pullback of on-chain AI Agent Tokens. The volatility of FET and TAO in the last 30 days was approximately 15% and 18%, respectively.

So, is it feasible for listed companies to invest in these more volatile altcoins? Let's take a look at a few specific cases.

Interactive Strength (TRNR): A Bold Attempt at Fitness + AI

Interactive Strength is a Nasdaq-listed company primarily engaged in professional fitness equipment and digital fitness services, owning two brands: CLMBR and FORME. The company has a market capitalization of approximately $8.4 million.

On June 11, the company announced plans to invest $500 million to purchase $FET Token as a crypto strategic reserve to support AI-driven fitness products. The company has secured $55 million in startup funding from investors and has chosen to buy FET directly from the market rather than through over-the-counter trading.

After the announcement, TRNR's stock price rose by 15%, and $FET also increased by 7%. However, considering the company's total market value is only 8.4 million dollars, raising 500 million to buy FET is quite challenging. In the short term, this move looks like a gamble, while its long-term success or failure may depend on the market potential for the AI fitness business.

Synaptogenix (SNPX): The Transformation Journey of a Biotechnology Company

Synaptogenix is a biopharmaceutical company focused on the treatment of neurodegenerative diseases, with a market capitalization of only 5 million dollars. On June 9, the company announced an initial investment of 10 million dollars to purchase $TAO Token, with plans to gradually increase this to 100 million dollars.

The mastermind behind this transaction is the well-known figure in the investment circle, James Altucher. He is responsible for formulating and executing the $TAO investment strategy, which includes phased market purchases and selecting Bittensor subnets for staking.

The motivation for SNPX's transformation stems from the bottleneck in its biopharmaceutical business. The company hopes to achieve asset appreciation by holding $TAO and staking rewards, and even plans to change its name and stock code to strengthen the positioning of its AI Token.

After the news was made public, the SNPX stock price surged by 40%. However, the initial investment of $10 million has exceeded twice the company's market value, and if the price of $TAO drops significantly, the financial risk becomes substantial. This is a high-risk, high-reward comeback battle.

Oblong (OBLG): Cautious Layout in the IT Field

Oblong is a service provider focused on IT solutions and video collaboration technology, with a market value of approximately $5.3 million. On June 6, the company announced it would raise $7.5 million through a private stock placement to purchase $TAO Token and participate in its Subnet 0 staking program.

This purchase of TAO can be seen as the company's strategic shift from traditional IT business to the fields of AI and digital assets. The company's CEO stated that the intersection of AI and blockchain is key to future innovation, and $TAO is regarded as a potential asset for crypto AI infrastructure.

The Oblong plan aims to achieve asset appreciation by holding $TAO and staking rewards while exploring the development of software tools based on Bittensor. This layout is more of a strategic trial to test the long-term potential of AI tokens.

Risks and Rewards Coexist

The trend of companies holding coins has expanded from single assets to diverse options. However, the high volatility and regulatory risks of altcoins cannot be ignored. The SEC has classified certain tokens as securities, and the compliance of AI tokens remains unclear. If regulations tighten, companies holding coins may face fines or liquidation risks.

For small-cap companies, allocating to altcoins is more like a high-risk, high-reward gamble. It is a capital game betting on the future, with success or failure depending on market sentiment, narrative continuity, and actual implementation ability.

When the altcoin bull market turns into stocks, both enterprises and investors should remember: risk is the essence of high-volatility assets, and returns are the rewards of seizing narratives and timing.