Firms now hold over $100 billion in Bitcoin, prompting analysts to warn of possible government takeovers.
- Public companies control nearly 4% of Bitcoin’s supply.
- Experts fear governments might nationalize crypto like gold in 1971.
- Despite risks, Bitcoin’s long-term growth outlook remains strong.
Firms Are Stacking Bitcoin Fast
Bitcoin holdings owned by companies have crossed $100 billion. These firms now control around 791,662 BTC, about 3.98% of all Bitcoin in circulation. Most of these holdings are by large, publicly traded corporations. According to a report by Cointelegraph, 35 companies now each own over 1,000 BTC.
Worries About Nationalization Emerge
Some analysts are concerned that governments, especially the United States, may eventually take control of these assets. Willy Woo, a known crypto expert, compared the situation to the U.S. nationalizing gold in 1971. Back then, citizens were forced to sell their gold to the government, which then banned private gold ownership.
Woo suggests something similar could happen with Bitcoin if the U.S. dollar weakens. “You could then ‘rug’ it,” he said, meaning the government could take Bitcoin held by companies and centralize it into a digital version.
Private Companies May Be First Targets
Another expert, Preston Pysh, said that firms managing Bitcoin through regulated custodians might be easy targets. These custodians may hand over assets to avoid legal trouble. He warned that private companies with large Bitcoin holdings could be the first to face pressure from governments.
Big Risk, But Bigger Potential
While these concerns are serious, they haven’t stopped corporate investments. Woo said Bitcoin could become a $100 trillion asset in the future, far larger than its current $2 trillion market cap. Even higher estimates, like $200 trillion, have been shared by Adam Back, CEO of Blockstream.
They believe this growth won’t happen overnight. It could take decades and needs more support from large financial institutions. If that happens, Bitcoin might replace gold or even the U.S. dollar as a global financial standard.
Source: cointelegraph.com
