31st March 2025 – (New York) By 2030, an estimated 25% of companies listed on the S&P 500 are projected to hold Bitcoin as a long-term asset, according to Elliot Chun, a partner at tech-focused financial advisory firm Architect Partners. In a blog post dated 28th March, Chun highlighted the growing pressure on treasury managers to incorporate Bitcoin into their portfolios, driven by fears of job security should they miss out on potential gains.
Chun noted, “If you tried it and it worked, you’re a genius. If it didn’t work, at least you made an attempt. However, if you didn’t try and lack a solid rationale, your position could be at risk.” Currently, only Tesla and Block have Bitcoin on their balance sheets among S&P 500 firms, indicating that at least 123 additional companies would need to invest in Bitcoin by 2030 to validate Chun’s prediction.
MicroStrategy (MSTR) stands as the largest corporate holder of Bitcoin among the 89 public companies currently holding the cryptocurrency. Recent developments, such as GameStop’s $1.3 billion offering of convertible notes intended for Bitcoin acquisition, suggest that more firms may soon join this group.
Industry leaders, including ARK Invest’s Cathie Wood and Galaxy Digital’s Mike Novogratz, forecast that Bitcoin could reach valuations between $500,000 and $1,000,000 by 2030. Companies that have adopted Bitcoin treasury strategies have often seen a positive correlation with their share prices; for instance, MicroStrategy’s stock has surged over 2,000% since its initial Bitcoin investment in August 2020, significantly outpacing both Bitcoin and the S&P 500 during the same period.
However, Chun cautioned against firms attempting to replicate MicroStrategy’s success, characterising them as likely to face disappointment. He emphasised the distinction between utilising Bitcoin for treasury diversification and fundamentally restructuring business models to lead in Bitcoin holdings.
Despite its increased adoption, Chun described Bitcoin as an “unproven strategy” for companies seeking to mitigate inflation risks or diversify treasury management. Nevertheless, he argued that Bitcoin offers greater flexibility as a treasury asset compared to gold, which poses logistical challenges for storage and transport.
Earlier this month, Bitwise launched the Bitwise Bitcoin Standard Corporations ETF, aimed at tracking companies with at least 1,000 Bitcoin in their corporate treasuries, highlighting the growing institutional interest in the cryptocurrency.
