The corporate use of cryptocurrencies is evolving beyond payments, with a series of companies that adopt Bitcoins and other digital assets such as central treasury reserves. A report on Thursday of the Morningstar DBRS qualification company warns that this strategy could increase credit risk profiles.
According to Bitcintrease.net, approximately 3.68 million BTC (for a value of around $ 428 billion as of August 19) They are carried out in all companies, funds quoted in exchange (ETF)Governments, decentralized finance (Defi) protocols and custodians. This is about 18% of Bitcoin’s current supply.
Funds dominate with 40% of holdings, followed by public companies with 27%. That exhibition is still highly concentrated. A company, strategy (Mstr)It controls more than 629,000 BTC, representing 64% of all public company treasury holdings, the report said.
Morningstar Dbrs highlighted a variety of vulnerabilities in corporate criptographic treasure strategies, including regulatory uncertainty, liquidity challenges during periods of volatility and exposure to exchange counterparts.
The great dependence on Bitcoin reserves could force liquidity management, while strong asset price changes add greater risk.
The firm also noted that different tokens have different technological and governance problems, and custody, either internally or through third parties, remains a critical security concern.
The corporate adoption of cryptographic treasury strategies is expected to grow, directed by companies such as the strategy and Mara Holdings (Mara). Morningstar Dbrs warned that concentration, volatility and regulatory complexity mean that such strategies could materially remodel how credit markets evaluate corporate risk.
Read more: Bitcoin’s treasure firm, Semler Scientific, still has 3x upward: Benchmark
