Bitcoin Treasuries Poised for Dominance: A $70 Trillion Future?
Jesse Myers, head of Bitcoin strategy at Moon Inc., has made a bold prediction: Bitcoin treasury companies will hold a staggering 50% of all Bitcoin by 2045. This assertion, shared in a recent X thread, suggests that the role of corporations in the Bitcoin ecosystem is vastly underestimated.
Myers paints a compelling picture of a future where institutional capital, fleeing traditional assets like bonds, flows into Bitcoin. “Over the last 2 years, an exodus from fiat assets (bonds and money) has already begun. Hard money assets (Bitcoin and gold) are where things are shifting,” he said.
He points to Michael Saylor’s Strategy, which currently holds 576,320 Bitcoin, as a prime example. Myers forecasts that Strategy will own a whopping $70 trillion worth of Bitcoin by 2045, effectively becoming the most valuable company in history. This prediction is based on the notion that Bitcoin will increasingly become the dominant store of value, attracting capital from traditional asset classes.
Myers highlights the existence of approximately $318 trillion in bonds seeking alternative investments. He believes that Bitcoin treasury companies, like Strategy, will be the primary beneficiaries of this capital shift, serving as the primary bidders for Bitcoin in the coming decades.
The Rise of Bitcoin Treasury Companies
While Strategy has been a pioneer in Bitcoin accumulation since 2020, other companies are beginning to emerge, signifying a broader trend. Twenty One Capital, founded by Strike CEO Jack Mallers with backing from Tether, SoftBank, and Cantor Fitzgerald, is another notable example. This company aims to provide investors with efficient Bitcoin exposure, further driving institutional adoption.
Data from Bitbo reveals that publicly traded and private companies, ETFs, and nation-states collectively hold 3.23 million Bitcoin, valued at approximately $348.25 billion. This figure, while significant, is a mere fraction of the total Bitcoin supply, emphasizing the potential for exponential growth in institutional holdings in the coming years.
Implications and Perspectives
Myers’ prediction has sparked debate within the crypto community. Some analysts agree that institutional adoption is crucial for Bitcoin’s future, while others remain skeptical about the pace of capital flow and the potential for such significant market concentration.
Proponents of institutional investment argue that it brings stability and legitimacy to the crypto market. They also believe that corporate holdings will drive increased adoption and development within the Bitcoin ecosystem.
Critics, on the other hand, express concern over potential price manipulation and the concentration of power in the hands of a few entities. They argue that the long-term viability of Bitcoin depends on decentralized ownership rather than centralized holdings by corporations.
The ongoing debate about institutional adoption and the role of Bitcoin treasury companies is likely to continue as the crypto market evolves. The future of Bitcoin will be shaped by the balance between decentralized ownership and the increasing influence of corporations in the space.
