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Crypto Prune > News > Crypto > Bitcoin > Bitwise CIO calls Bitcoin “Best Horse” in Race to explain accelerated company purchases
Bitcoin

Bitwise CIO calls Bitcoin “Best Horse” in Race to explain accelerated company purchases

9 months ago 3 Min Read

Bitise Cio Matt Hougan said the “megatrend” of public companies that add Bitcoin (BTC) to the Treasury reserves will continue to accelerate as the movement is still in its early stages.

Hogan issued a statement between a June 10th interview CNBC emphasized that 79 listed companies own approximately $57 billion worth of Bitcoin as of the end of March.

Driver and adoption restrictions

Companies have historically stored surplus cash in the short-term Treasury or bank deposits to store value. However, Hougan argued that the unprecedented deficit and money creation would push financial managers to seek valuable alternatives.

He said:

“They (companies) need another way to protect their wealth from degradation, and they look to the best horses in that race: Bitcoin.”

Hougan added that the stock market rewards companies that disclose purchases, enhancing the appeal of their balance sheet exposure.

Hougan has linked corporate demand to growing trust in Bitcoin’s role as “digital gold.” Binance Research’s June “Monthly Market Insights” report has seen rapid growth.

According to the report, 116 public companies currently manage around 809,100 BTC as of May 31st, from 312,200 a year ago. More than 25 companies have revealed new allocations since early April.

The average monthly purchases exceed 40,000 BTC supported by recent entrants such as Trump Media, Nakamoto, GameStop and PSG. The strategy remains the largest holder, accounting for nearly 72% of the total.

Renewed interest and outlook

Additionally, the report said the board pursues both upside down and inflation protection, which means that it has a fresh history price close to the $112,000 “renewed company FOMO.”

See also  Cryptocurrencies are on the rise. Bitcoin rises another 7% in the past 24 hours

Additionally, improved US regulatory signals and improved accounting changes in 2025 have enabled fair value treatment and eliminated impairment charges that once blocked financial obligations.

Hougan predicted that by 2026 the company’s Treasury could exceed 1 million BTC if the current purchase rates last. meanwhile, Binance Research was achievable under stable macro conditions and constituted the target by continuing regulatory advances.

Additionally, Bitise CIO expects more cash-rich multinationals to diversify this year. This is because concerns about the decline of the dollar remain at the forefront of their minds.

He believes this will ultimately push Bitcoin allocations from niche practices to mainstream financial management norms.

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