By 2030, a quarter of the companies listed in the S&P 500 are expected to incorporate the leading cryptocurrency into their balance sheets as a long-term asset. This prediction was made by Elliot Chun, a partner at the consulting firm Architect Partners.
According to Chun, the growing interest in cryptocurrency is driven by pressure on financial directors who fear “losing their jobs.”
Strategy is the largest corporate holder of bitcoins among 89 public companies that store digital gold on their balance sheets, according to BitcoinTreasuries.
At the time of writing, the firm holds 506,137 BTC. The total investment is estimated at $33.7 billion.
Notably, GameStop recently issued $1.3 billion in convertible bonds to purchase its first batch of bitcoins.
Tesla and Block are the only companies in the S&P 500 that currently hold the leading cryptocurrency. This implies that by 2030, an additional 123 firms would need to invest in the asset for Chun’s forecast to be realized.
The expert emphasized that market leaders should not rely on replicating Strategy’s success. He noted that such a strategy remains “unproven” for most companies in terms of real protection against inflation or diversification.
Chun added that bitcoin, as an asset management tool, offers several advantages over gold, including ease of storage, transfer, and liquidity.
Back in March 26, Glassnode reported that major holders acquired over 129,000 BTC in two weeks.