news

bitcoin

1 X bitcoin bitcoin =

Sunday

29 November 2020

Corporate Bitcoin treasuries are here, which can only mean good things

Corporate Bitcoin treasuries are here, which can only mean good things


smart summary beta

Holding Bitcoin (BTC) in treasury will soon become a corporate standard.

Wall Street firm MicroStrategy recently made headlines when it decided to allocate a large portion of its treasury to Bitcoin, buying over 21,000 BTC in August and almost 17,000 more in September, making its CEO, Michael Saylor, seem quite prescient already.

According to Saylor, Bitcoin was the best inflation hedge and store of value, and in his words, “Cash is trash.” His wager has, so far, been handsomely rewarding.

Technically speaking, Bitcoin is, in fact, a worldwide store of value.

It will soon be a corporate standard like owning treasury notes is.

And it is, in fact, why Bitcoin will find favor with many chief financial officers, ironically both conservative and avant-garde ones.

With about a rough estimate of $10 trillion of corporate treasury worldwide, even a 3% allocation instead of cash represents $300 billion, which is about the aggregate value of Bitcoin, in liquid cash.

Goto Full Article

bitcoin bitcoin price

$17728.83

24h

Live Average

bitcoin

News Article Sentiment

positive

Score (0)

Article Metadata

author

site

cointelegraph.com
Market data feeds provided by cryptocompare.com
bitsmart 2020