Together, private and public companies hold 812,929 BTC, equivalent to roughly 3.87% of Bitcoin’s total supply,This trend has led to the rise of a new type of Bitcoin holder, which started shortly before the launch of spot Bitcoin exchange-traded funds in the United States. This makes it even easier for corporations to gain exposure to the cryptocurrency.
Bill Zielke, chief revenue and chief marketing officer at BitPay, told Cointelegraph that companies are adopting BTC as they “see the long-term vision of Bitcoin as an appreciating store of value and hedge against inflation.” Schlaufman added that Bitcoin, as the best-performing asset over the past decade, offers “significant short to long-term potential to expand the company’s treasury.” While Bitcoin’s potential is enticing, it’s important to acknowledge the risk associated with this new asset class, known for its significant price fluctuations.It is rare to see daily double-digit price swings in traditional asset classes like stocks and bonds, but these are fairly common in the cryptocurrency space.
Cex.io’s Dudko said companies of any size should do diligent research and carefully reflect on their risk appetite before allocating resources to Bitcoin: He said that the company will “continue to purchase Bitcoin as we are able to,” believing the cryptocurrency will continue to appreciate in the long run.
BitPay’s Zielke said it is unlikely that “other cryptocurrencies will be adopted so bullishly as investments by large companies,” but said: