Source: Cointelegraph Original: "{title}"

Data shows that after U.S. President Donald Trump's tariff policy triggered a global market sell-off, corporate Bitcoin reserves collectively lost over $4 billion in value.

According to BitcoinTreasuries.net, as of April 7, the total value of Bitcoin held by corporations was approximately $54.5 billion, down from about $59 billion before April 2.

The volatility of cryptocurrencies has also affected the stock prices of publicly traded Bitcoin holders.

According to Yahoo Finance, the Bitwise Bitcoin Strategy ETF (OWNB)—an exchange-traded fund tracking diversified corporate Bitcoin holders—has dropped over 13% since Trump announced comprehensive tariffs on U.S. imports on April 2.

According to Google Finance data, even the stock of the de facto Bitcoin hedge fund Strategy, founded by Michael Saylor, has declined, losing over 13% since April 2.

These losses highlight ongoing concerns about the increasing popularity of Bitcoin as a corporate financial reserve asset. Historically, corporate financial reserves typically hold very low-risk assets, such as U.S. Treasury bonds.

David Krause, a finance professor at Marquette University, stated in a research report in January: "The high volatility of cryptocurrencies and the uncertain regulatory environment are inconsistent with the fundamental goals of financial management, such as stability, liquidity, and capital preservation."

Entities holding Bitcoin. Source: BitcoinTreasuries.NET

According to FinanceCharts, the surge in Bitcoin prices in 2024 has driven the stock price of Strategy up over 350%.

The success of Strategy has inspired dozens of imitators, but investors are beginning to adopt a skeptical attitude.

In March, GameStop's market value evaporated by nearly $3 billion as shareholders questioned the video game retailer's plan to accumulate Bitcoin.

Bret Kenwell, a U.S. investment analyst at eToro, told Reuters on March 27: "There are questions about GameStop's model. If Bitcoin is going to be a turning point, where does that leave other businesses?"

The case for Bitcoin as a corporate financial asset. Source: Fidelity Digital Assets

Asset management firm Fidelity Digital Assets stated in its 2024 report that adding Bitcoin to corporate treasuries "could be a valuable hedge against rising fiscal deficits, currency devaluation, and geopolitical risks."

According to a Binance research report on April 7, this theory may already be in play as Trump's tariff policy shakes the market.

Binance stated: "In light of the recent tariff announcement, Bitcoin has shown some resilience, remaining stable or rebounding when traditional risk assets perform poorly."

The report noted that investors "will closely monitor whether Bitcoin can maintain its appeal as a non-sovereign, permissionless asset in a protectionist global economy."

Related: Cryptocurrency ETPs lost $240 million last week due to U.S. trade tariffs—CoinShares

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