As publicly listed companies are increasingly considering accumulating digital assets as part of their financial strategies, Bittensor (TAO) has emerged as a strong candidate along with options such as Bitcoin, Ethereum, Solana, and XRP.
Recent moves with experts and companies like Oblong and Synaptogenix have reinforced the belief that Tao could become a valuable repository.
Which public companies have chosen Bitenser (TAO) for strategic preparation?
Recently, Oblong, a registered IT solutions provider with NASDAQ, announced plans to raise $7.5 million through private stock offerings. The fund supports digital assets and AI strategies based on Bittensor.
According to a press release on June 6, the company will mainly use money to purchase tao tokens and develop a decentralized AI market that includes subnet 0. This strategy aims to generate yields from holding TAO. After the announcement, Oblong’s shares rose 12%, with nearly 2 million shares sold for $3.77 each.
Additionally, Synaptogenix, another company registered with NASDAQ, has revealed its plans to first acquire a TAO worth $10 million, more than twice the company’s current market capitalization.
“Based on our initial review, we believe that the fast-growing fixed market supply of 21 million Tao tokens in the global demand for AI development and adaptation will make Tao an attractive cryptocurrency,” said Joshua Silverman of the Board.
Synaptogenix has set a long-term goal of increasing TAO’s holdings to $100 million. This effort is led by renowned Crypto and AI expert James Altucher.
Altucher emphasized that the strategy focuses not only on the potential benefits from staking and token price growth. It also aims to rebrand the company’s name and inventory ticker to reflect its TAO-based digital asset strategy. This demonstrates a strong belief in the long-term potential of synaptogenix bitenser.
Other companies have chosen Solana (SOL), XRP, or Ethereum as their strategic preparation, creating a rectangle and Synaptogenix movement.
Analysts predict that Tao could become the top three Altcoin
Many industry experts also share a positive outlook on Tao. Their confidence is driven by the fact that Bitensar runs the token economy with a fixed supply similar to Bitcoin, encouraging participation and contribution to the network.
A recent report from Beincrypto shows that the number of TAO subnets reached an all-time high. Institutional investors are also beginning to see Tao for its staking returns.
“Tao is the only project with the necessary elements to reach BTC levels. The top three are inevitable,” predicted hedge fund manager Pedro Teisheira.
According to data from CoinmarketCap, TAO is currently the top Altcoin among AI tokens, with a market capitalization of over $3.8 billion. It also holds a major position in Grayscale’s AI sector. Meanwhile, AI tokens continue to be one of the most prominent themes on the market today.
At the time of writing, the TAO price was $434, an increase of 25% since the beginning of the month. However, to overtake XRP and become the top three Altcoin, as Pedro Teixeira predicts, Tao’s price will need to rise five times higher.
That said, this expectation may face headwinds. Bitcoin domination again rose in June, with the Altcoin season still not yet here. Additionally, some experts have warned of the risks whether the trends in public crypto vehicles are widespread across altcoins beyond Bitcoin.
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