61 companies hold 3.2% of the total

The recent trend of reserve strategies in Bitcoin has led 61 publicly listed companies to collectively hold 3.2% of all existing Bitcoin, according to a report by Standard Chartered published on June 3.

This phenomenon highlights a growing institutional interest in the digital asset and prompts new reflections on both the opportunities and the risks associated with the integration of Bitcoin into corporate balance sheets.

The exponential growth of reserves and business strategies in Bitcoin

According to the report prepared by Geoff Kendrick, global head of digital asset research at Standard Chartered, among the 124 public companies that have adopted treasury strategies in Bitcoin, 61 have been analyzed in depth.

Together, these hold a total of 673,897 Bitcoin. In the last two months alone, the holdings of these companies have almost doubled.

Specifically, the quantity of Bitcoin held has increased from less than 50,000 BTC to about 100,000 BTC.

This trend demonstrates a strong push towards the adoption of Bitcoin as a store of value, likely favored by the growing confidence in this asset finanziario and the search for investment diversification.

Despite the enthusiasm, the Standard Chartered report warns of the possible risks associated with the rapid expansion of reserves in Bitcoin among companies.

The majority of corporate reserves, 58 out of 61, show a net asset value (NAV) multiple greater than 1. This means that the market valuation of these companies exceeds the value of their net assets, including Bitcoin.

Kendrick explains how this situation is, for the moment, justified by market inefficiencies such as regulatory hurdles and conservative processes within investment committees.

However, once these inefficiencies are removed, reserves in Bitcoin could turn into a source of bear pressure on prices and fuel the volatility of BTC.

This hypothesis stems from the fact that the intrinsic volatility of Bitcoin could push the price below the average purchase cost incurred by many companies.

About 50% of the new reserves have been purchased at prices above 90,000 dollars per BTC, much higher than the average of 70,023 dollars of Strategy, holder of 580,955 Bitcoin.

The risks of valuation and price

This dynamic can translate into an amplified effect on the volatility of Bitcoin prices, with companies forced to manage more fluctuating valuations and potential losses in the event of a price drop.

On the other hand, the downward pressure could create opportunities for new investors or companies entering the market at lower prices, reinforcing the idea that the sector is still in a phase of formation and consolidation.

The report from Standard Chartered arrives at a time when new companies are announcing strategies in Bitcoin, confirming the growing trend.

For example, SolarBank, a Canadian renewable energy developer, has made official its decision to adopt Bitcoin as part of its treasury policy.

At the same time, the French company Blockchain Group purchased Bitcoin worth 68 million dollars, while K33, a Norwegian broker, raised 6.2 million dollars for further acquisitions.

According to the updated data from BitcoinTreasuries, currently 124 public companies hold Bitcoin in their balance sheets.

The growing number of entries indicates how Bitcoin is becoming an increasingly accepted financial asset and integrated into corporate wealth management policies.

The opinions of the experts: between risks and opportunities

Standard Chartered expresses a cautious stance, highlighting how the rapid adoption of Bitcoin could expose companies to unexpected market pressures. Nonetheless, several prominent figures in the crypto sector see the situation in the opposite way.

They believe that, although risks exist, companies are taking on a manageable, potentially rewarding risk by including Bitcoin in their balance sheets.

This discrepancy of views reflects the complexity of the financial asset and its maturation phase. Institutional investors must therefore carefully balance the potential returns with the vulnerabilities related to volatility and regulatory changes.

The analysis by Standard Chartered confirms that treasury strategies in Bitcoin are rapidly gaining ground among publicly listed companies. The impact on the Bitcoin market, already significant today, could increase with the further growth of corporate reserves.

Although there are risks of volatility and potential bear pressure, the growing adoption suggests that Bitcoin is no longer just a speculative investment but a true component of corporate asset management.