A Quarter Of S&P 500 Firms Could Hold Bitcoin By 2030: Report
A quarter of S&P 500 firms could hold Bitcoin on their balance sheets by 2030, according to a report from tech-focused financial advisory firm Architect Partners. “Why? Because those managing treasury assets won’t be able to say they didn’t at least try,” said partner Elliot Chun in a March 28 blog post. “ If you tried it and it worked, you’re a genius. If you tried it and it didn’t work, you at least tried . Either way, you likely keep your job. But if you didn’t try it and can’t provide a good reason, your job may be at risk.” Companies Trying To Replicate Strategy’s Performance Are Setting Themselves Up For Failure Strategy (formerly MicroStrategy), led by executive Chair Michael Saylor, was the first major company to add Bitcoin to its reserves. Since Strategy started its BTC acquisitions in August 2020, its share price has skyrocketed around 2,074%, the analyst noted. More Bitcoin, Less...