In what is certainly a positive development for Bitcoin, one firm has predicted that US companies will purchase $10.3 billion worth of BTC over the next 18 months. Specifically, Bitcoin technology entity River issued a new report highlighting how United States-based firms will increase their exposure.
The report expects a host of American businesses to adopt a plan similar to that of MicroStrategy. The Michael Saylor-led firm adopted an aggressive Bitcoin accumulation plan. Although that asset has been down in recent weeks, its return to form is expected. Subsequently, firms investing in BTC will stand to benefit.
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US Companies Predicted to Go Big on BTC in Next 18 Months
2024 has certainly been an interesting year for Bitcoin. It broke ground in January, being the first crypto-based ETF in the United States. Just three months later, it reached an all-time high price point, trading at $73,000. Yet, since then, it has been a volatile journey for the entire industry.
The leading crypto has recently fallen to $53,792 after dropping more than 8% in the last seven days, according to CoinMarketCap. Moreover, it has fallen more than 5% in the last 24 hours, as the market awaited headway in the ongoing macroeconomic struggle.
However, one analytic firm doesn’t expect this to dissuade Western business. Despite Bitcoin’s struggle, one firm predicts US companies will buy more than $10.3 billion worth of BTC in the next 18 months.
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In a recent report, River says that around 10% of all American businesses will convert 15% of Treasury reserves to Bitcoin in the next year and a half. The move would be massive for the viability and adoption of BTC.
Additionally, River notes that this would be a benefit to companies. Specifically, because eBitcoin offers a better store of value option for corporate Treasury strategies. Likely outperforming both cash and short-term equivalents.
“These investments can generate moderate returns near the federal funds rate,” River Analysis stated. “However, even these short-term investments often fail to outperform inflation, diminishing the value of a Treasury.” That issue can be avoided through a corporate Bitcoin adoption plan. One that the firm is confident most companies will embrace.
