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Bitwise CIO says corporate Bitcoin buying is set to explode

Matt Hougan, the Chief Investment Officer of Bitwise, forecasts a substantial surge in corporate Bitcoin acquisitions within the next 12 to 18 months. New accounting standards, particularly ASU 2023-08, will encourage companies to add Bitcoin to their balance sheets.

MicroStrategy’s aggressive Bitcoin buying strategy is paving the way for others, as it aims to raise over 42 billion USD to purchase more BTC. The company’s acquisitions exceed 257,000 BTC, significantly impacting market supply, inspiring numerous corporations to follow.

Currently, 70 public companies, including Tesla and Coinbase, hold a total of 141,302 BTC. Additionally, private firms like SpaceX maintain substantial holdings of 368,043 BTC. The recent regulatory changes enhance Bitcoin’s attractiveness for corporate treasuries, signaling a broadening adoption.

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