The MicroStrategy effect? More and more companies decide to invest their savings in Bitcoin

The COVID-19 pandemic and related monetary policy have caused an increase in demand for bitcoin. Now, companies want invest in "digital gold" to protect their reserves from the depreciation of fiat currencies.

The news of Unchained Capital for companies

After an announcement on Monday, bitcoin financial services firm Unchained Capital released an "advanced business account" specifically aimed at companies that not only want to own bitcoins but want to manage their private keys on their own rather than with the help of a clerk. third parts.

The reason the company came up with this service is simple: it is no longer just individuals in the crypto sphere who are concerned about the abundant printing of money, negative interest rates and similar issues.

Just look at MicroStrategy's recent moves. Michael Saylor, founder of the business intelligence firm, described bitcoin as "superior to cash" and announced that his publicly traded company had bought an additional $ 175 million last week, bringing MicroStrategy's total BTC holdings to. approximately $ 425 million.

MicroStrategy is paving a path that many others are now considering following, explained Parker Lewis, head of business development at Unchained Capital. In addition to crypto-native companies, family offices and investment firms, there is also an emerging group of interested companies that are not Bitcoin-centric, Lewis said.

Bitcoin B2B

In the past it would have been difficult to imagine the CEO or CFO of a company deciding to manage private keys. “We make it really simple,” said Phil Geiger, head of marketing at Unchained.

“We have one key, our customers two keys, which means that our customers really have full control over their bitcoins. With the new business accounts, we've created a combination of company-wide controls for different types of users, accounting, and so on. But at the base of everything there is always the Bitcoin protocol ".

However, it is common for regulated financial firms to see, at best, a gray area when it comes to custody of cryptocurrencies and will likely opt for the closest thing to the traditional world, which is a regulated custodian agency like BitGo Trust.

“At first glance, it makes perfect sense,” Lewis said. But the situation is likely to evolve over time. “We have this new form of money; do we need to give up legislation that has existed for 30 or 40 years? Perhaps the reality is that regulations need to change to offer the best possible safety ”.

So if a CFO needs to be able to move fiat currency quickly how does it typically work? “I think this can be adapted to the size of the organization,” Lewis said. "We have relationships with five or six OTC branches, as well as being able to trade on the stock exchange."