Veteran Investor Eric Jackson Launches 'Gen-2' Multi-Asset Crypto Treasury with $1 Billion Backing

Veteran activist investor Eric Jackson is returning to the cryptocurrency treasury model with a new, diversified structure following the announced acquisition of EMJ Crypto Technologies by SRx Health Solutions. If the transaction closes, the combined firm is set to begin operations early next year, with Jackson appointed as Chief Executive Officer.

Jackson's revised strategy moves decisively away from the single-asset Bitcoin-centric models pioneered by companies like MicroStrategy. He criticized existing Bitcoin treasury firms as "non-differentiated." His new digital asset treasury (DAT) will hold a basket of cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), alongside "other tokens." The firm also plans to allocate a limited portion of its capital to select public equities, such as Carvana, and will employ options hedging strategies (puts and calls) to generate income and mitigate risk. "It’s almost like you are running a mini hedge fund within your treasury company to make some income," Jackson explained.

The core objective is to avoid the severe drawdowns that plagued first-generation DATs during recent market declines. Jackson aims to build a "Gen-2 treasury company with multiple assets" that treats market volatility as a manageable process rather than a catastrophic event.

Significant financial backing has been secured for this venture. SRx shareholder Keystone Capital Partners has committed up to $1 billion in potential funding to support future capital raises tied to this new operating model, which Keystone terms the "Gen-2 treasury operating system strategy."

Jackson, who runs the $10 million EMJ Capital hedge fund, is known for successful activist investments in companies like Carvana and Opendoor. He also plans to license EMJ's in-house risk and hedging technology to other DAT companies, suggesting the firm's value will stem from this service layer rather than just its net asset value. "We believe that we won’t be valued on mNAV, but on the value we create for others," he stated.