Cryptocurrencies have become more prominent as financial and investment vehicles than payment mechanisms, prompting corporate treasuries to reassess their role in digital assets. Companies like MicroStrategy are exploring bitcoin’s potential as both a store of value and transactional asset.
MicroStrategy, the world’s largest corporate holder of bitcoin, announced its rebranding as Strategy on Wednesday, February 5. The new logo features a stylized “B” symbolizing its focus on bitcoin strategy. The company has added $45 billion to its bitcoin holdings and plans to shift its focus towards fixed-income issuance to support its bitcoin acquisition strategy.
Despite the rebranding, Strategy reported a net loss of $670.8 million in the fourth quarter due to an impairment charge on its bitcoin holdings. However, the company remains committed to bitcoin’s value as a long-term store of value for corporate treasuries.
Strategy CEO Michael Saylor argues that bitcoin offers a scarce and borderless reserve asset, unlike cash or gold. The company plans to adopt new accounting rules allowing it to measure the fair value of its bitcoin holdings, potentially reducing future impairment charges.
Regulatory uncertainty has been a concern, but clearer accounting rules and regulatory progress are giving CFOs confidence in managing bitcoin’s financial reporting and compliance risks. As bitcoin matures, more firms may follow Strategy’s lead, adopting a hybrid treasury model that balances liquidity needs with long-term appreciation potential.
With the launch of bitcoin ETFs and institutional-grade custody solutions, companies are becoming more accessible to corporate treasuries. Strategy’s decision to move towards a bitcoin-centric business model underscores the growing institutionalization of digital assets.
Source: https://www.pymnts.com/cryptocurrency/2025/making-sense-of-bitcoins-growing-relevance-for-corporate-treasuries