Adam Back, the creator of Hashcash, reveals a crucial trend: investing in Bitcoin or in companies with large BTC reserves is the new strategy for crypto speculators. Forget about the 'altcoin season'! According to Back, the real opportunity now lies in the growing corporate adoption of Bitcoin.
Public companies are accumulating Bitcoin at a staggering pace, doubling their number in just a few weeks! Currently, more than 240 public companies own Bitcoin, representing nearly 4% of the total supply. These companies, known as 'Bitcoin treasuries,' are using various financing strategies to increase their holdings, making them extremely attractive to investors.
Why is Bitcoin the New Gold for Companies?
Back predicts that institutional and governmental adoption could catapult Bitcoin to a $200 trillion market, anticipating a future of 'hyperbitcoinization' where BTC replaces fiat currencies.
Although Bitcoin treasuries offer great opportunities, they also present risks. Some shareholders, for example, are paying high premiums for exposure to Bitcoin through these companies.
How Bitcoin Can Recover Your Losses in Altcoins?
For those who have suffered losses with altcoins, Back suggests a clear strategy: switch to Bitcoin or BTC treasury companies. This is the way to potentially recover those losses and take advantage of market momentum.
Corporate adoption does not stop. Companies like Mercurity Fintech Holding and The Blockchain Group are making significant moves to accumulate Bitcoin in their treasuries. Even with the lack of overall momentum in altcoins, some, like Fetch.ai (FET), are also seeing institutional interest.
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