Analyst: The trend of businesses incorporating Bitcoin into their balance sheets may continue until 2025

On December 27, Wintermute analyst stated that the trend of companies incorporating Bitcoin into their balance sheets could continue until 2025. Jake Ostrovskis, an over-the-counter trader at Wintermute, said in an interview: "I believe this trend will become a major driving force next year, especially as institutional investors enter and businesses start to participate, particularly those listed companies trying to gain exposure to Bitcoin. You might also see small and medium-sized enterprises (SMEs) joining in." 

In recent years, MicroStrategy has purchased $27.7 billion worth of Bitcoin and plans to buy tens of billions more. Ostrovskis pointed out that Bitcoin mining companies Mara and Riot are examples following MicroStrategy's footsteps by issuing convertible notes to purchase more Bitcoins. Earlier this week, Metaplanet announced plans to raise $31.8 million through bond issuance for accelerating its bitcoin purchases.

The core idea behind these moves is that they can enhance the company's balance sheet while pushing up stock prices - a strategy which can be referred as the 'MicroStrategy Strategy'. He said: "People are currently discussing the impact of ETFs; what really drives this is now you can have U.S pension funds and sovereign wealth funds invest cash but actually there’s a large pool of capital from corporations with relatively stronger liquidity which may act faster than waiting for pension funds entering buying bitcoin ETF."

Ostrovskis also mentioned traditional hedge funds had been waiting for ETFs to provide access channels for cryptocurrencies; now they're taking swift action because they see opportunities in the market.