PANews reported on December 27, according to The Block, that based on predictions from market maker Wintermute's analysts, the trend of companies incorporating Bitcoin into their balance sheets may continue until 2025. Wintermute's OTC trader Jake Ostrovskis pointed out in an interview that as companies follow institutional investors and their listed company foundation into the market next year, this will become an important driving force, and small and medium-sized enterprises may also join in. Ostrovskis mentioned that Bitcoin mining companies Mara and Riot are following MicroStrategy's lead by issuing convertible notes to buy more Bitcoin.
These measures aim to enhance the company's stock price by strengthening the balance sheet, known as the 'MicroStrategy strategy.' Ostrovskis pointed out that while ETFs are gaining attention, the real driving force lies in the cash investments from pension funds and sovereign wealth funds. There are also more flexible and faster-moving funds within companies that do not need to wait for pension funds to purchase Bitcoin ETFs. Meanwhile, traditional hedge funds that are waiting for ETFs to enter the cryptocurrency market are also acting quickly as they see market opportunities. Ostrovskis stated that people are no longer just 'natives' of the cryptocurrency market, but are applying traditional stock trading strategies to cryptocurrency, and this shift is already evident in the flow of funds.
Ostrovskis also predicts that some companies will emulate MicroStrategy, but the investment target will be Ethereum. He believes it may just be a matter of time before someone turns themselves into an Ethereum investment tool, becoming the 'MicroStrategy' of the Ethereum world.
