Bitcoin is making its way to commercial offices to corporate treasury bills, and at the end of the decade, it could be a standard practice, according to an analyst.
“In all different strategies and implementations, I plan that by 2030, a quarter of the S&P 500 will have BTC somewhere in their balance sheets as a long -term active,” wrote Elliot Chun, partner at Architect Partners, in an snapshot of the market.
The strategy – maintain bitcoin as a treasure reserve ratio – was unorthodox when the strategy, formerly known as Microstrategy, adopted it for the first time in August 2020. The company formulated the BTC as coverage against inflation, a diversification tool and a means of distinguishing itself on the market.
Then, the very public embrace of CEO Michael Saylor transformed the company into a de facto proxy for exposure to the BTC. Since then, the microstrategy stock has increased by more than 2,000%, far exceeding S&P 500 and Bitcoin during the same period, said Chun.
GameStop is the last company to follow suit, announcing this week that it would collect $ 1.3 billion thanks to a convertible note to acquire Bitcoin. Its stock initially increased after the announcement, but has since undergone a correction, lowering almost 15% for the week.
Chun argued that treasurers could soon face a career risk not to buy bitcoin, but to ignore it completely. “Doing nothing is no more a defensible strategy,” he wrote.
According to Bitcointheries data, listed companies currently hold 665,618 BTC, or 3.17% of the total cryptocurrency offer. The strategy holds the lion’s share, 506 137 BTC.
Read more: US listed companies continue to adopt Bitcoin (BTC)
