For decades, corporate treasure bonds have trusted cash, bonds and short -term investments to preserve capital. But inflation, devaluation of fiduciary currencies and almost zero interest rates have challenged this approach. A new dark horse is emerging and corporate finances are about to change forever.
BTC as a corporate reserve asset
Historically, corporations have maintained substantial cash reserves for both stability and liquidity. However, as Michael Saylor, executive president of Microstrategy, has argued, the cash is like a melted ice cube, which loses its purchasing power due to monetary degradation. Bitcoin offers an alternative: an asset with a fixed supply, global liquidity and asymmetric rise.
Since 2020, Microstrategy has accumulated aggressively Bitcoin, transforming its corporate balance into a quasi BTC bank. The company issues debt and capital to finance its purchases, taking advantage of a traditional financial approach to build a Bitcoin treasure. In 2024 alone, Microstrategy acquired 257,000 BTC. This strategy has indirectly converted Microstrategy into a Bitcoin accumulation and ETF machine that quotes in the stock market, granting exposure to shareholders to BTC through their actions that are quoted in the stock market $ Mstr.
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Two Key Metrics: Bitcoin by BTC action and performance
Microstrategy has popularized two key metrics that each corporation that studies this strategy needs to understand intimately: Bitcoin per action (BPS) and BTC performance.
Bitcoin per action (BPS): The bitcoin number maintained by pending participation. This metric allows investors to measure the indirect exposure of BTC of a company.
BTC performance: The percentage change in the bitcoin number per action over time. This KPI tries to reflect how efficiently a company acquires BTC.
Source: Mstrtracker.com
The corporate supercycle
While many corporations maintain traditional treasury strategies, a fundamental change in corporate finances is emerging. More than 70 companies that are quoted in the Stock Exchange now have Bitcoin in their balances, including Tesla, Coinbase and Block. Even companies outside the technology and finance sectors are adopting this approach, which demonstrates their wide applicability between industries.
This adoption represents more than a trend: it is a transformation in how companies can create and preserve the value of shareholders. The regulatory environment is evolving to support this change in three critical ways:
- Sab21’s investment has fundamentally improved Bitcoin’s usefulness as a treasure asset. By allowing regulated financial institutions to provide custody services, corporations can now take advantage of their Bitcoin holdings more efficiently through established banking relations.
- FASB’s historical accounting changes create a more precise reflection of Bitcoin’s economy in corporate financial statements. According to these rules, companies that accumulate Bitcoin can now recognize the appreciation in their profits, providing a clear mechanism for the creation of value through the strategic acquisition of Bitcoin.
- The Bitcoin Law of 2024 and the broader regulatory clarity signal growing institutional acceptance, reducing systemic risks for corporate adoption.
Companies can now generate profits through the strategic accumulation of Bitcoins while simultaneously building a position in an asset with a significant potential for appreciation. This combination of the current impact of profits and the potential future value echoes the classic principles of Warren Buffett to find businesses that can generate current yields and reinvest attractive rates.
The transformation ahead is not simply to add bitcoin to the balances: it is about fundamentally rethinking the management of the corporate treasure for an era of digital shortage. Companies that understand this early change will have a significant advantage in the construction of treasure positions at attractive prices, as well as the first Internet users.
We are entering a new era in corporate finances, where Bitcoin’s unique properties are combined with evolving financial infrastructure to create unprecedented opportunities for the creation and preservation of value.
Companies that recognize and act in this early change will probably arise as the Berkshire digital era.
