Recent economic measures from the US have led to significant losses among corporate treasuries holding Bitcoin. New tariffs enacted by President Trump are the primary reason for the sharp decline in these assets’ value.
Losses in Corporate Treasuries
Corporate treasuries holding Bitcoin have lost over $4 billion following the introduction of new import tariffs. According to BitcoinTreasuries.net, the total value of corporate-held Bitcoin as of April 7 is approximately $54.5 billion, a sharp decline from $59 billion earlier. These losses highlight not only market volatility but also questions about Bitcoin’s reliability as a treasury asset.
GameStop Case and Its Impact
In March, GameStop saw a nearly $3 billion drop in market capitalization after revealing plans to convert part of its reserves into Bitcoin, raising concerns about corporate crypto adoption. Analysts are skeptical about the sustainability of GameStop's model. Nonetheless, some experts argue that Bitcoin could serve as a strategic hedge against economic risks.
Metaplanet's Strategy and Prospects
Metaplanet, a Japanese company that has aggressively accumulated Bitcoin, recently announced the early repayment of corporate bonds valued at 2 billion yen. As of 2023, the company aims to purchase up to 21,000 BTC and has already accumulated 4,206 BTC. Metaplanet is betting on Bitcoin as a resilient asset, despite market turbulence.
The situation with corporate Bitcoin holders illustrates how rapidly changing economic conditions can impact assets. The future of Bitcoin in corporate treasuries remains in question as companies like Metaplanet continue to pursue risky strategies.
