The SEC's approval of Bitcoin exchange-traded funds in January 2024 has transformed the landscape for U.S. asset managers looking to invest in Bitcoin.

Companies that have adopted Bitcoin for treasury management have generally seen positive impacts on their share prices, with MicroStrategy notably outperforming both Bitcoin and the S&P 500.

Chun highlights Bitcoin's advantages over gold, emphasizing its liquidity and recognition as a tangible asset, making it an attractive option for companies.

Despite the growing adoption of Bitcoin as a treasury asset, it remains an unproven strategy for hedging against inflation or diversifying treasuries.

Around 20 U.S. states have introduced legislation concerning Bitcoin reserves and investments, indicating a rising institutional interest in the cryptocurrency.

Industry experts like Cathie Wood and Mike Novogratz are optimistic about Bitcoin's future, predicting it could reach values between $500,000 and $1,000,000 by 2030.

Elliot Chun from Architect Partners predicts that by 2030, approximately 25% of S&P 500 companies will invest in Bitcoin as a long-term asset, a significant increase from the current holders, Tesla and Block.

Currently, only two firms, Tesla and Block, hold Bitcoin among S&P 500 companies, indicating that at least 123 more firms would need to adopt this strategy for Chun's prediction to come true.

Chun notes that treasury managers are increasingly feeling pressured to invest in Bitcoin to mitigate job risks associated with missing out on potential gains.

MicroStrategy is recognized as the largest corporate holder of Bitcoin, with its stock surging over 2,000% since it began purchasing Bitcoin in August 2020.

The trend of companies establishing Bitcoin reserves is growing, driven by fears of missing out on potential gains, as seen with firms like GameStop and Metaplanet.

GameStop recently announced plans to raise $1.3 billion through convertible notes to purchase Bitcoin, which led to a temporary surge in its stock price.