Bitcoin treasury companies offer a regulated, stock-based route to diversify into Bitcoin without direct ownership. Firms like MicroStrategy, Riot, and Metaplanet embody this strategy, using equity and debt to build sizable BTC reserves that serve as hedges and growth assets. While attractive for institutions and retail investors in restricted markets, these companies involve added layers of risk—management decisions, leverage, accounting policies, and periodic disclosures substitute for blockchain transparency. Their stock performance depends on both Bitcoin’s market dynamics and corporate execution, introducing volatility beyond crypto price movements. Investors should weigh liquidity, governance, valuation premiums, and strategic alignment before exposure to this emerging asset category.