Nocera (NCRA) enters the crypto market: The next ticket to the DAT narrative

The theme of this wave of US stocks is that many people are talking about AI + BTC + public companies hoarding coins (DAT)

And the recently announced Nocera (NASDAQ: NCRA) that is going to enter the crypto market is just hitting this trend.

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What is DAT?

DAT = Digital Asset Treasury (Digital Asset Reserve) strategy

In plain language, it means that the company allocates a portion of its funds to encryption assets, treating it as "part of the company's asset statement."

The earliest representative is MicroStrategy (MSTR)

In 2020, they used company cash + issued bonds to buy Bitcoin, holding over 640,000 BTC from the first purchase to now.

Bitcoin has risen, but what’s even more exaggerated is that MSTR's stock price increase far exceeds that of BTC itself, due to the "leverage + premium" amplification.

Why would the market buy into this kind of operation?

1️. Leverage Effect
The company uses shareholder funds or low-interest convertible bonds to buy coins.
If BTC rises by 10%, the company's net assets may increase by 15 to 20%.
In the market narrative, this will be amplified into "corporate version Bitcoin ETF".

2️. Market Premium
There are many traditional funds that cannot directly purchase coins (pensions, insurance funds, fund regulatory restrictions), but they can buy US stocks.
The DAT company has become their "indirect entry point for holding coins," which will naturally be priced at a market premium.

3. The story is simple, and the theme is sexy.
"This company has started to hoard coins" is a phrase that both retail and institutional investors can understand.
More direct than engaging in any Web3 ecosystem or AI concepts.
The more intuitive the subject matter, the easier it is for funds to flow in.

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What is the significance of Nocera (NCRA) this time?

This company originally focused on Recirculating Aquaculture Systems (RAS), emphasizing sustainable technology and international presence (with operations in Taiwan, the United States, and China).

In July 2025, it was officially announced that they would make a "strategic investment" in the crypto market, which is an important signal of their shift from "traditional acquisition companies" to "digital asset companies."

If it really announces the scale of holdings and staking strategy in the future, it may become a new "cross-industry DAT target":

Sustainable industry + encryption asset reserve = ESG × Crypto new combination

How should retail investors look at it?

Short-term view on themes:
Theme emergence → Announcement of holding coins → First batch of purchases landing → Report disclosure
Every stage may be a trading opportunity.

Medium-term view on execution:
Three things to observe:
- The scale and cost of holding coins (the lower, the safer)
- Is there a staking strategy (can generate returns)
- Is the financing structure stable (don't use high-interest debt to get on board)

Long-term logical perspective:
If NCRA can achieve "core business stability + encryption asset appreciation" like MSTR, its valuation may be redefined.
But if it’s just about shouting the theme without execution, then it’s just short-term speculation.

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Summary: This is a case of "encryption of traditional industries"

In the past, it was technology companies playing with coins; now even companies engaged in aquaculture, e-commerce, and media are considering incorporating Bitcoin into their asset portfolios.

What does this mean? Crypto is being absorbed by the finance departments of mainstream companies.

NCRA is just a small sample in this wave, but if this path goes smoothly, it won't be surprising to see "food companies, energy companies, logistics companies" all holding coins in the future.