Global economic instability, inflation, dollar depreciation and uncertainty have forced companies to look for alternative assets like Bitcoin as a future financial asset. In this context, Bitcoin has been considered an emerging asset or digital gold. Just as gold was seen as a safe haven during economic crises; currently, large companies are considering Bitcoin as a safe haven. Various public companies are storing Bitcoin on their balance sheets so that they can strengthen their future financial position. When the price of Bitcoin increases, the value of the companies increases. On the other hand, when costs increase, the price falls. Then it becomes very risky. Through Bitcoin, the company is said to be more future-focused. Because by investing in Bitcoin, the company believes in modern future technology or has innovative power. When Tesla bought Bitcoin, their social media coverage and band value increased many times. Bitcoin is no longer just a digital coin; it is considered by people as a sure-fire way to secure the future. Companies that are currently buying BTC -
1.MicroStrategy,
2.Tesla,
3.Block Inc. (formerly Square)
4.Coinbase,
5.Marathon Digital Holdings
6.Hut 8 Mining
- Which companies do you think will buy the Bitcoin in the future?
The main reason why large companies are buying Bitcoin is because of FOMO (Fear On Missing Out). They don't want to miss their chance of getting filthy rich. Strategy continues to buy BTC with no signs of stopping anytime soon. BlackRock is in the same boat. Good for long-term BTC "hodlers", because this will result in higher market prices over time. Some experts are saying BTC will face a "supply shock", as the rate at which companies buy BTC will surpass the rate of "newly-minted" coins on the Blockchain.
If there are other companies that will join the craze, I'd say Apple and Microsoft will be the next ones. The world is quickly recognizing Bitcoin as the next store of value (Digital Gold). It won't be long before everyone is on-board the revolution. For such high adoption, Bitcoin would need to scale massively to prevent network congestion. But that's another subject. We'll see how far BTC will go within the next 10 years. Cheers.