Since 2024, it is evident that the number of companies that are, in some way, adopting cryptocurrencies is growing. There are companies eyeing tokenization, others in more modern payment formats, and many looking for a way to better fuel their cash flow.
MicroStrategy was the publicly traded company that decided to kickstart the purchase of Bitcoin. This wave encouraged other institutions to follow the same path. Some will call it a trend. But, honestly, I can't see BTC accumulation going out of style in the future.
The fact is that companies are understanding how this asset class works. And more than that, they have captured the nuances of the traditional financial market and the current global economic model. The result? They are going to the cryptocurrency market to protect themselves.
Open cash for Bitcoin
The global circulation of cryptocurrencies is quite significant. Just in terms of market capitalization, we are talking about $2.92 trillion passing through the hands of millions of investors.
With that, cryptocurrency exchanges end up being the main drivers paving the way for these assets to reach people. But this market doesn't live on liquidity alone. After all, having the support of the asset you trade is quite important.
That’s why today, companies are the second-largest group holding Bitcoin as treasury. They only fall behind ETFs and cryptocurrency funds, which, naturally, signals institutional appetite.
In total, companies hold over 771,000 BTC in cash – about $66 billion at the current exchange rate. MicroStrategy is the largest of them, with an impressive 534,741 units of the cryptocurrency in hand.
But despite this evident dominance, the story is not limited to Michael Saylor's actions!
Connecting new players
In terms of Bitcoin adoption as an asset for corporate cash, MicroStrategy is far ahead. And it’s no coincidence. The company was one of the pioneers in this behavior, which started back in 2020 and has never stopped – whether in a bear or bull market.
But the conveyor belt doesn't stop. Tesla, despite past comments, still maintains its position as one of the big whales in this market, holding over 11,500 BTC in custody. More recently, we saw this happen close to us. The Brazilian company Meliuz, for example, created a mechanism to purchase Bitcoin to strengthen the company's cash flow.
So, what seemed to be something 'crazy' or 'irresponsible' has become a self-defense in light of the global economic scenario. With exorbitant tariffs and stagflation risks – or at least generalized inflation – relying on traditional assets is ceasing to be the main answer.
And, of course, that we would see another player adopting the same protective measure.
Twenty One Capital (21 Capital), funded by Tether, BitFinex, SoftBank, and Cantor Fitzgerald, is the newest 'bitcoiner' in the area. And its proposal is as 'simple' as possible: to follow MicroStrategy's footsteps in the recurring purchase of Bitcoin.
With that, the expectation is that the company will be able to accumulate BTC for its shareholders, as CEO Jack Mallers explained: “For example, if our Bitcoin per share is 0.05, our intention is to increase that to 0.06 Bitcoin per share, 0.07 Bitcoin per share.”
And do you want to know an interesting fact? They intend to list the shares on Nasdaq, with the ticker XXI (21 in Roman numerals). Combine this with the company name and realize that 21 Capital makes a total reference to the 21 million Bitcoins that will exist throughout history.
It may be a small detail, but it shows how high the confidence in the cryptocurrency's scarcity code is!
Keeping an eye on the opportunity
I don't like to say that the story is just beginning. After all, it has been happening for good years. To say that we are at the end of it would also be untrue, as the search for support in Bitcoin is at its highest traction point.
What we are looking at, then, is an opportunity to change the status quo. To make the economy and finances (both public and private) increasingly robust, secure, transparent, and, above all, resilient.
No one needs to take a leap like Michael Saylor. However, ignoring the advancement of a technology like this and denying its necessity is to remain stuck in an archaic business model that has often proven to be inefficient for the majority of the population and companies throughout history.
The solutions are available, and the decision to grab this train or remain standing at the station depends on each individual.
The article '21 Capital joins MicroStrategy in the race to accumulate Bitcoin' was first seen on BeInCrypto Brazil.
