Over 60 public companies have adopted Bitcoin as a treasury asset, now controlling 3.2% of the total Bitcoin supply. These companies collectively hold 673,897 Bitcoin, which is more than double their holdings from two months prior. The growing trend of Bitcoin adoption among corporate treasuries is noted in a report by Standard Chartered, highlighting potential risks for the market. Nearly all these corporate investors have net asset value multiples above 1, suggesting their market valuations exceed their net assets. The report indicates that while this buying pressure may currently support Bitcoin prices, future removal of market inefficiencies could introduce volatility and downward price pressure. For instance, many new adopters have average purchase prices exceeding $90,000, significantly above Bitcoin's current market price. Despite concerns about volatility, influential figures like Michael Saylor from Strategy express optimism towards holding Bitcoin long-term regardless of price fluctuations. Recent adopters include companies like SolarBank, further indicating a rising trend among institutions to secure Bitcoin as part of their financial strategy.

Source 🔗