Bitcoin Expected on 25% of S&P 500 Balance Sheets by 2030
Analyst Elliot Chun projects that by 2030, 25% of the S&P 500 will include Bitcoin as a long-term asset on their balance sheets. This shift towards corporate treasury holdings of Bitcoin began with Strategy (formerly MicroStrategy) in August 2020, which adopted BTC as a hedge against inflation and for market differentiation.
Key points include:
- MicroStrategy's stock surged over 2,000%, outperforming both the S&P 500 and Bitcoin since its adoption.
- GameStop plans to raise $1.3 billion through convertible notes for Bitcoin purchases, although its stock has faced a nearly 15% correction post-announcement.
- Chun suggests treasurers may risk their careers by ignoring Bitcoin, stating "Doing nothing is no longer a defensible strategy."
- Publicly listed companies currently hold 665,618 BTC, about 3.17% of total supply, with Strategy holding 506,137 BTC.