The post After MicroStrategy, Other Companies Are Rumored to Buy Bitcoin: But How True Is This Claim? Here Are The Predictions appeared on BitcoinEthereumNews.com.

MicroStrategy has solidified its position as the institutional leader in accumulating Bitcoin and holds a staggering amount of BTC worth $37 billion at the time of writing. The company’s aggressive Bitcoin strategy has sent its stock to record highs, pushing its market value to $85 billion. Now, MicroStrategy’s chairman and co-founder Michael Saylor is advocating for other companies to follow suit. “Ultimately, I think the right way to think about it is it’s always going to be a stronger capital asset compared to a traditional S&P index,” Saylor recently told CNBC, reiterating his belief in Bitcoin’s superiority over traditional investment options. “Adding Bitcoin to the balance sheet was once a reality only for crypto-sector companies; now it is moving into the mainstream on the back of a promising post-election outlook,” McCauley said in an email. “As the floodgates begin to open, we expect more public names to look to Bitcoin as a reserve asset and invest their excess treasury cash.” The idea of using Bitcoin to hedge against inflation and diversify treasury holdings has gained traction, especially as traditional assets face economic uncertainty. Alexander Blume, CEO of Two Prime Digital Assets, believes Saylor’s success paves the way for others to join the trend. “Saylor’s success makes the BTC reserve strategy more acceptable to other public companies, and I suspect more will emerge in the near future,” Blume said. Despite the growing interest, some remain skeptical about Bitcoin’s widespread adoption as an institutional reserve asset. Bloomberg Intelligence ETF analyst James Seyffart said that even as the topic becomes more mainstream, large companies may still hesitate. Despite the growing interest, some remain skeptical about Bitcoin’s widespread adoption as an institutional reserve asset. Bloomberg Intelligence ETF analyst James Seyffart said that even as the topic becomes more mainstream, large companies may still hesitate.…

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Filed under: News - @ November 28, 2024 9:23 pm