According to the source, MicroStrategy’s August 11, 2020 Form 8-K made BTC a formal corporate treasury reserve template, directly linking balance-sheet policy to crypto market liquidity and flows. Source: MicroStrategy Form 8-K, Aug 11, 2020. A confirmed ETH precedent exists: Hong Kong–listed Meitu disclosed ETH and BTC purchases for its treasury in March and April 2021, validating non-BTC corporate crypto reserves. Source: Meitu HKEX announcements, Mar 7, 2021; Apr 8, 2021. Accounting tailwinds are material: FASB’s 2023 update requires fair value accounting for crypto beginning in fiscal years starting after Dec 15, 2024, lowering P&L distortion for corporates considering BTC or ETH. Source: FASB ASU 2023-08. U.S. spot ETH ETFs launched in July 2024, improving access, custody options, and price discovery that corporates and institutions can reference for treasury governance. Source: SEC approval orders (May 2024) and exchange listing notices (July 2024). As of October 2024, there is no verifiable wave of SOL treasuries among public companies; traders should treat SOL-treasury headlines as unconfirmed catalysts until disclosed via EDGAR or HKEX. Source: SEC EDGAR and HKEX issuer filings as of Oct 2024.