Source: Cointelegraph Original: "{title}"
By 2030, about a quarter of S&P 500 companies will invest in Bitcoin, as financial managers worry that missing out on Bitcoin's potential gains could cost them their jobs, a partner at a tech-focused financial consulting firm stated in a blog post on March 28.
"I expect that by 2030, a quarter of S&P 500 companies will list Bitcoin as a long-term asset on their balance sheets," said Elliot Chun, a partner at Architect Partners.
Chun noted that this shift will be driven by financial managers feeling compelled to at least try Bitcoin. "If you try and succeed, you're a genius. If you try but fail, at least you tried. But if you don't try and have no good reason, your job may be at risk."
According to BitcoinTreasuries.NET, MicroStrategy (MSTR) is currently the largest Bitcoin holder among 89 publicly traded companies that hold Bitcoin.
After GameStop issued $1.3 billion in convertible bonds on March 26, a new company may be added to this list, as GameStop plans to use the funds to purchase its first Bitcoin.
Currently, only Tesla and Block are S&P 500 companies that hold Bitcoin—meaning, according to Chun's prediction, at least 123 more S&P 500 companies need to invest in Bitcoin by 2030.
Top ten largest Bitcoin corporate holders. Source: BitcoinTreasuries.NET
Tech investors and executives expect Bitcoin to continue rising
According to views from ARK Invest CEO Cathie Wood, Galaxy Digital CEO Mike Novogratz, Coinbase CEO Brian Armstrong, and Block CEO Jack Dorsey, Bitcoin could reach $500,000 to $1 million or even higher by 2030.
Meanwhile, companies adopting Bitcoin financial strategies have already seen positive impacts on their stock prices. MicroStrategy's stock has risen over 2000% since it first invested in Bitcoin on August 20, 2020, significantly outperforming Bitcoin (up 781.1%) and the S&P 500 (up 64.8%).
However, Chun stated that there is a significant difference between companies that adopt Bitcoin for financial diversification and risk management and those that restructure their entire business model to become Bitcoin financial leaders in their industry.
"Companies that implement this strategy and hope to replicate MSTR's performance will face disappointment," Chun said, referring to MicroStrategy as "a unique company."
MSTR initially provided exposure to Bitcoin when U.S. asset managers were unable to hold Bitcoin directly. This situation changed on January 10, 2024, when the Securities and Exchange Commission approved several applications for Bitcoin spot exchange-traded funds (ETFs).
Although the number of companies adopting Bitcoin has increased, Chun stated that the strategy of treating Bitcoin as a financial asset remains "an unproven strategy" for those hoping it can hedge against dollar and fiat currency inflation or diversify finances through risk management.
Nonetheless, Chun pointed out that Bitcoin is still a more flexible financial asset than gold, as there are challenges in storing and moving gold bars.
On the other hand, Bitcoin is a digital commodity that complies with Generally Accepted Accounting Principles (GAAP) and is considered a tangible asset with fungibility and liquidity.
Earlier this month, crypto asset management firm Bitwise launched the Bitwise Bitcoin Standard Corporations ETF, aimed at tracking companies that hold at least 1,000 Bitcoin in their finances.
Related: Crypto Biz: GameStop firmly holds Bitcoin
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