The cryptocurrency world is no stranger to bold predictions, but Jesse Myers, COO of institutional custody firm Onramp, has set a new benchmark. In a recent statement on X (formerly Twitter), Myers outlined an ambitious vision where his company would control half of all Bitcoin within 20 years.
The $70 Trillion Bitcoin Vision
Myers' projection centers on several key concepts:
- Corporate Bitcoin Adoption: Following MicroStrategy's playbook, companies increasingly view Bitcoin as a primary treasury reserve asset
- Financial Instruments: New investment vehicles like Strike (8% yield) and Strife (10% yield) attracting institutional capital
- Market Dynamics: The interplay between traditional finance and cryptocurrency ecosystems
👉 Why institutional investors are flocking to Bitcoin
MicroStrategy's Blueprint for Success
Michael Saylor's MicroStrategy (recently rebranded as Strategy) currently holds approximately:
- 550,000 BTC
- $12.7 billion raised through bond offerings
- 8-10% yield on investment-grade crypto bonds
This corporate strategy has proven so effective that Tokyo-listed Metaplanet has followed suit, targeting 10,000 BTC by year-end.
The Math Behind the Prediction
Myers builds his case on several calculations:
| Metric | Current (2024) | Projected (2045) |
|---|---|---|
| Bitcoin Price | ~$60,000 | $13 million |
| Total BTC Held by Firms | 630,000 (3%) | 10.5 million (50%) |
| Strategy's Share | N/A | $70 trillion |
Key drivers include:
- Yield-seeking institutional capital ($318 trillion pool)
- Bitcoin's superior store-of-value characteristics
- Financialization of Bitcoin holdings
Market Implications
This aggressive accumulation strategy raises important questions:
FAQ: Understanding the Bitcoin Corporate Rush
Q: How realistic is this 50% projection?
A: While ambitious, the current 3% corporate holding represents $38 billion at today's prices - showing room for growth.
Q: What happens to Bitcoin's decentralization principle?
A: Corporate holdings would complement rather than replace individual and government holdings in Myers' model.
Q: How does this compare to gold markets?
A: Similar to how ETFs democratized gold investing, corporate Bitcoin strategies may institutionalize crypto.
👉 The future of corporate Bitcoin strategies
The Road Ahead
Several factors will determine whether Myers' vision materializes:
- Regulatory Environment: Clarity on crypto accounting and taxation
- Financial Innovation: Development of new crypto-backed instruments
- Market Liquidity: Ability to absorb large institutional flows
As 21 Capital and other major players enter this space with backing from SoftBank and Tether, we may indeed be witnessing the birth of a new asset class within corporate finance.
Note: All dollar amounts in USD unless otherwise specified