Lu Yeung and Breanne Dougherty, strategists at Bloomberg Intelligence, believe that Bitcoin could emerge as an attractive option for public companies due to its resilience.
The analysts have acknowledged that the leading cryptocurrency still tends to trade in tandem with the U.S. stock market. However, this correlation started to wane after "Liberation Day."
Bitcoin has performed surprisingly well during the tariff-induced turmoil, sparking speculation about potential decoupling.
In fact, its 10-day volatility is lower compared to major stock market indices.
Yeung and Dougherty argue that corporate managers could "revisit" whether the cryptocurrency could be more resilient against the U.S. dollar amid increasing macroeconomic uncertainty.
Even though Bitcoin is still correlated with stocks, the most significant part is now performing as a low beta by not amplifying equity risks, according to David Lawant, head of research at FalconX.
"BTC isn’t moving independently, but it’s not amplifying equity risk like it used to. That’s the real and important signal,"
Growing corporate crypto adoption
As reported by U.Today, cryptocurrency index fund manager Bitwise recently estimated that the total number of Bitcoins held by public companies had approached the 700,000 BTC mark in Q1. Last quarter, 12 more companies jumped on the Bitcoin train. According to the most recent data, it currently stands at 711,000 BTC.
Strategy is the biggest holder of BTC by an enormous margin, buying a total of $35.6 billion.
As reported by U.Today, Strategy's most recent Bitcoin purchase of $556 million was announced on Monday.
Vladislav Sopov
Dan Burgin