For more than a decade, Bitcoin (BTCUSD) has been promoted as “digital gold,” a hedge against inflation and an uncorrelated asset that could protect investors from systemic risks. But in recent years, a new and potentially dangerous trend has emerged: corporations and institutions are pouring billions of dollars into Bitcoin and crypto-related reserve strategies.
What began as a fringe idea embraced by a handful of bold firms — most notably MicroStrategy (MSTR), which recently rebranded as Strategy — has snowballed into a corporate movement. Treasury departments, funds, and even some banks are now holding Bitcoin on their balance sheets, betting that its scarcity and growing acceptance will make it a long-term store of value.
