Companies have over $15 billion of Bitcoin on their balance sheet

The corporate fomo seems to have started definitively as companies already have over $15 billion of bitcoin on their balance sheets. In total, more than 842 thousand bitcoin is involved.

With a price of, at the time of writing, about $18200, that means a total value of more than $15 billion. To be precise, companies now have 842,229 bitcoin in their hands. That is 4.54% of the total supply (!).

You can find these statistics on Bitcoin Treasuries.

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Why the corporate bitcoin fomo starts right now
It all started, of course, with MicroStrategy, which suddenly bought over $200 million worth of bitcoin in August. Shortly after that they bought the next big chunk in September and then it went off.

Not long after the announcement, the big Square followed them with a cautious investment of $50 million. In the meantime, both MicroStrategy and Square have already made good money on their investment. This is mainly reflected in MicroStrategy’s share.

The demand for bitcoin from companies seems to grow along with bitcoin’s reputation as a store of value. With practically the same properties as gold, but a much smaller market cap, the growth potential of bitcoin is enormous.

Bitcoin is gold on steroids

Normally, assets such as gold are mainly used to protect a portfolio against a bad market. When the economy is going badly, gold often does well. The ultimate insurance on your portfolio.

In good times, however, gold is not such an interesting investment at all. The great thing about bitcoin is that it is both an insurance on the financial system, and an asset that has shown considerable growth even in good times.

The relatively poor economic outlook makes it likely that central banks around the world will continue to print money en masse. This massive devaluation of money will only improve the long-term prospects for bitcoin.

Bitcoin is made for the macroeconomic environment in which we currently find ourselves. The corporate fomo for bitcoin seems to have begun.

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