In recent years, the number of public companies investing in Bitcoin using borrowed funds has increased. This trend raises both optimism and criticism among market participants.
Introduction to Bitcoin Corporate Treasuries
Previously, only Strategy (now MicroStrategy) actively purchased Bitcoin, but recently many companies have joined this trend. Currently, 216 entities hold nearly 31% of the total Bitcoin supply, with 101 of them being public companies.
Impact of Treasuries on Bitcoin Price
Despite exciting announcements of new treasuries, such as 21 Capital and ProCapBTC, their influence on Bitcoin's price remains ambiguous. Research indicates that increased interest in Bitcoin from regulated financial institutions has decreased price volatility, although BTC's price is stuck between $100,000 and $110,000.
Critique and Support of Corporate Treasuries
Critics argue that the mass accumulation of Bitcoin by corporations contradicts Bitcoin’s original vision. However, supporters believe such treasuries help accelerate Bitcoin adoption by providing institutional investors easier access to price appreciation.
Corporate treasuries are becoming an important part of the Bitcoin ecosystem, eliciting both excitement and dissatisfaction. The extent of their influence on the market remains to be determined.
