Corporate treasuries are evolving as companies like MicroStrategy pivot from traditional cash reserves to incorporating bitcoin as a reserve asset. This shift stems from inflation and near-zero interest rates diminishing the purchasing power of cash. Bitcoin, with its fixed supply and global liquidity, is increasingly seen as a viable alternative. MicroStrategy has notably amassed 257,000 BTC, enabling shareholders to gain indirect exposure through its stock. Two key metrics have emerged for companies adopting this strategy: bitcoin per share (BPS) and BTC yield, which help measure BTC exposure and acquisition efficiency. Over 70 corporations now hold bitcoin on their balance sheets, including Tesla and Coinbase, marking a significant shift in corporate finance. Regulatory changes are facilitating this trend by enhancing bitcoin's utility, ensuring accurate financial statements, and clarifying regulations to foster institutional acceptance. Companies that proactively adopt this strategy may find substantial advantages in a digitally scarce economy, potentially positioning themselves as leaders in value creation akin to Buffett's investment philosophy.

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