Increasing Corporate Bitcoin Adoption: A New Megatrend

user avatar

by Giorgi Kostiuk

2 years ago

Matt Hougan, Chief Investment Officer at Bitwise, highlighted in his research note the surge in corporations adding Bitcoin to their treasuries, driven by MicroStrategy's influence and changes in the U.S. regulatory environment.

MicroStrategy's Market Influence

Led by Michael Saylor, MicroStrategy has been a forerunner among major corporations in adding Bitcoin to its assets, currently holding about 450,000 BTC valued at over $43 billion. The company's strategy has served as a model for other companies considering similar investments.

New Accounting Standards

The newly introduced accounting requirements under ASU 2023-08 allow companies to account for both decreases and increases in Bitcoin's value, as opposed to previous rules which viewed it as an intangible asset. This change enhances Bitcoin's attractiveness from a financial reporting perspective.

Opinions and Prospects

Matt Hougan forecasts a significant increase in the number of companies adding Bitcoin to their treasuries, questioning how many will follow this path under the new accounting conditions.

If 70 companies were willing to add bitcoin to their balance sheets when, from an accounting perspective, it literally could only go down, imagine how many will add it to their balance sheet now. Two hundred? Five hundred? A thousand?Matt Hougan, Bitwise CIO

Changes in corporate practices and financial standards are opening new avenues for the integration of digital assets like Bitcoin into corporate treasuries, potentially leading to increased investment activity in cryptocurrency markets.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Dolphin Token Listed on Upbit with Three Trading Pairs

Dolphin (POD) has been officially listed on Upbit, one of South Korea's leading cryptocurrency exchanges, with three trading pairs: KRW, BTC, and USDT.

user avatarNguyen Van Long

Optimism Releases Opnode Update to Enhance Sequencer Performance

Optimism has launched a new opnode update aimed at improving the performance of sequencers and preventing configuration errors from causing upgrade issues.

user avatarTando Nkube

Optimism Releases Maintenance Update v250 for Opreth

Optimism has released Opreth version 250, a maintenance update that removes legacy commands and includes important security patches.

user avatarKofi Adjeman

Optimism Releases Maintenance Update for Rust-based Faultproof Stack

Optimism has announced a substantial maintenance release for its Rust-based faultproof stack, known as Kona host v180, which was published on October 1. This update is recommended for all chains and focuses on ensuring that two pieces of verification software derive the same answers from the same chain data.

user avatarRajesh Kumar

Polymath and CineCity Studios Launch Tokenized Film Investment Initiative

Polymath and CineCity Studios announced a collaboration to explore a tokenized film investment platform aimed at connecting independent film productions with investors through regulated digital securities.

user avatarSatoshi Nakamura

WISeKey's New Ticker WQEY Set to Begin Trading

WISeKey's ordinary shares will start trading under the new ticker WQEY on October 5, reflecting the company's new corporate structure following the merger.

user avatarJesper Sørensen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.