“Doing nothing is no longer a strategy,” stated Elliot Chun, a partner at Architect Partners, in a recent market snapshot. According to him, by 2030, 25% of S&P 500 companies will hold bitcoin on their balance sheets as a long-term asset.
When MicroStrategy first bet on BTC in 2020, it seemed unconventional. Then-CEO Michael Saylor openly declared bitcoin as a hedge against inflation and a way to stand out from competitors. Since then, the company’s stock has soared over 2,000%, outperforming both bitcoin and the S&P 500.
This week, GameStop attempted to follow MicroStrategy’s lead. The company announced it would raise $1.3 billion through convertible notes to purchase bitcoin. Initially, its stock surged, but by the end of the week, it had dropped nearly 15%.
According to BitcoinTreasuries, publicly listed companies now hold 665,618 BTC—around 3.17% of the total bitcoin supply. Of that, 506,137 BTC belongs to Strategy, making it the largest corporate holder of bitcoin.
As Chun emphasized, CFOs may now face career risk not for buying bitcoin—but for ignoring it altogether.