4 hours ago
Corporate treasury buying of bitcoin (BTC) could scope $330 cardinal by the extremity of 2029, broker Bernstein said successful a probe study Monday.
Strategy (MSTR) is apt to beryllium the largest buyer, with an further $124 cardinal of the world's largest crypto, successful the broker's bull case. The institution led by Michael Saylor announced a further $21 cardinal at-the-market communal banal offering past week to bargain much bitcoin.
"The U.S. pro crypto regulatory authorities person further accelerated the firm ownership maturation of bitcoin," analysts led by Gautam Chhugani wrote.
Bernstein expects different listed companies to allocate astir $205 cardinal to bitcoin acquisition strategies, led by smaller firms with little maturation looking to emulate Strategy's treasury model.
Public companies present ain ~2.4% of the bitcoin supply, oregon astir 720,000 BTC connected their equilibrium sheets, the study noted.
Still, Strategy's "scale is hard to replicate" and not each bitcoin treasury volition beryllium palmy successful attempting to replicate the company's playbook, the study added.
Strategy acquired an further 1,895 bitcoin past week for $180.3 million.
Read more: Michael Saylor's Strategy Adds 1,895 Bitcoin, Bringing Company Stack to 555,450 BTC
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