Bitwise CIO: Corporate Purchases of Bitcoin Are Becoming a Undervalued Trend in the Market

ChainCatcher news, according to The Block, Bitwise Chief Investment Officer Matt Hougan pointed out that corporate holdings of Bitcoin are becoming an underestimated trend in the market. Currently, 70 publicly traded companies have incorporated Bitcoin into their balance sheets, with MicroStrategy holding 450,000 Bitcoins (approximately 2.1% of the total supply).

Hougan expects that, benefiting from an improved regulatory environment and updates to accounting standards (ASU 2023-08), hundreds of companies will purchase Bitcoin in the next 12-18 months. Notably, Meta is considering a shareholder proposal to hold Bitcoin, with a market capitalization 20 times that of MicroStrategy.