The institutions are finally coming to Bitcoin, and they are coming in full force. After years of speculation and anticipation, it seems that the time has finally arrived for corporations and institutions to embrace the leading cryptocurrency.
MicroStrategy, led by Bitcoin permabull Michael Saylor, has been at the forefront of this movement, being the first major corporation to convert a significant portion of its treasury into bitcoin. Saylor’s vision to get MicroStrategy on a bitcoin standard has not wavered, and the company has continued to add more bitcoin to its balance sheet.
This year’s edition of the MicroStrategy World conference marked the beginning of a new era, according to Saylor. He believes that the time has come for institutions to follow MicroStrategy’s lead, especially after the launch of 11 spot Bitcoin ETFs in the United States in January 2024.
Other industry leaders, such as Hunter Horsley, CEO of Bitwise, and Alexander Leishman, CEO and CTO of River, have also noted the increasing interest from traditional financial institutions in bitcoin. They believe that institutions are starting to dip their toes into the bitcoin waters and are exploring ways to incorporate the cryptocurrency into their operations.
One of the key developments discussed at the conference was the use of the Lightning Network to connect businesses globally. David Marcus, CEO of Lightspark, highlighted how Lightning could revolutionize the way businesses send and receive payments, making it easier to move value around the world in real time.
Additionally, MicroStrategy unveiled its latest innovation, MicroStrategy Orange, a decentralized identity platform built on the Bitcoin blockchain. This platform aims to empower organizations to employ DID applications directly on the base layer of Bitcoin, showcasing the potential for Bitcoin beyond its store of value use case.
Overall, the conversations at the MicroStrategy World conference revolved around normalizing Bitcoin for corporations and institutions. While it may have taken some time for companies to come around to Bitcoin, it is clear that we are entering an era where more are willing to explore the benefits of the leading cryptocurrency. Thanks to pioneers like Michael Saylor and the team at MicroStrategy, the institutional stampede into Bitcoin has finally begun.
