Ecoinometrics - Corporate isn’t stacking sats

We thought Bitcoin treasuries would soak up a lot of liquidity, turns out they aren’t.

Public and private companies putting Bitcoin on their balance sheet predates Michael Saylor’s efforts to evangelize the idea. 

But despite this strategy of corporate Bitcoin accumulation having worked pretty well  for MicroStrategy, very few have followed the example. 

Last time we looked at the state of the Bitcoin treasuries holdings was about six months ago. Back then BTC was still very deep in the bear market. Has anything changed now that Bitcoin is in a bear market recovery phase?

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Corporate isn’t stacking sats

The takeaway

If you don’t have time to read the whole thing here is what you need to know:

• Bitcoin treasuries are stuck on a plateau. There is no real Bitcoin buying dynamic coming from those institutional entities.

• In particular the narrative that public companies need to convert some of their cash to Bitcoins in order to keep up with inflation isn’t finding buyers. 

• But given that BTC isn’t exactly performing as a short term inflation hedge that’s not very surprising.