Bitcoin Treasury Adoption Replaces Altcoin Speculation Trend: Adam Back

The adoption of Bitcoin Treasury by public companies has become the new Altcoin season for cryptocurrency speculators, Adam Back said on Monday.

The season of the Treasury Bitcoin (BTC) “is the new SZN Alt for speculators,” said Back, co-founder and CEO of Blockstream and the inventor of Hashcash. “It’s time to throw alts in BTC or BTC vouchers,” he added.

Bitcoin treasure companies buy BTC “in rehearsal to increase Bitcoin by action”, explaining different financing methods such as convertible notes to accumulate the world’s first cryptocurrency, which makes them attractive to investors, said Back.

His comments arise in the middle of a vague vague adoption of corporate bitcoin, which has seen the number of public companies holding Bitcoin double since June 5.

At least 240 public companies now hold Bitcoin on their balance sheets, against 124 companies just weeks ago, representing approximately 3.96% of the total BTC supply, according to BitcoinTareries.net.

Returning previously provided that institutional and government adoption would make Bitcoin a market opportunity of $ 200 billions as Bitcoin cash societies in hyperbitcoinization in advance – a theoretical future where Bitcoin becomes the largest world currency in the world, replacing fiduciary money because of its inflationary economy.

However, Bitcoin cash companies also have increasing concerns for shareholders. For example, the Bitcoin bonus of the Japanese investment company Metaplanet climbed $ 596,154 on May 27, which means that shareholders pay more than five times for Bitcoin exposure via Metaplanet actions.

In relation: Genius Group Bitcoin Treasury increases 52% as 1,000 BTC objective reaffirm

Bitcoin investments can compensate for altcoin losses

However, Back argued that Bitcoin -based companies offer a possible path to recover altcoin losses.

“I encouraged them to find a way to get out of the alts,” said in an X response on Monday. “Maybe they can put their losses by switching to the BTC through cash companies,” he added.

In relation: The Swedish deputy proposes the Bitcoin reserve to finance the minister

The adoption of companies continues to accelerate. On June 12, Mercurury Fintech Holding, listed at the Nasdaq, announced its intention to raise $ 800 million to establish a “long -term” Bitcoin cash reserve.

Three days earlier, the cryptocurrency company based in Paris, the Blockchain group, also announced its intention to raise $ 340 million for a Bitcoin de corporate treasure, reporting an increasing institutional interest in Europe.

Despite their lack of momentum, altcoins also benefit from institutional adoption. Interactive Strength, a manufacturer of fitness equipment classified in Nasdaq, announced its intention to raise $ 500 million to establish a Fetch.ai (FET) token treasure, reported on June 11.