Crypto Biz: Bitcoin, treasuries and the stablecoin surge
Corporations race to build Bitcoin treasuries as stablecoins gain momentum and landmark regulations take shape worldwide.
The race to accumulate Bitcoin (BTC) is accelerating as corporations increasingly view the digital asset as a valuable addition to their balance sheets. Beyond publicly traded firms, private companies are joining the movement, including a Norwegian deep-sea mining company planning to acquire $1.2 billion worth of BTC.
This week also marked the official unveiling of a new venture by crypto entrepreneur Anthony Pompliano, aimed at building a billion-dollar Bitcoin treasury.
As Bitcoin accumulation intensifies, stablecoins are emerging as a key driver of crypto adoption. The United States is edging closer to passing landmark stablecoin legislation, South Korea is pushing banks to issue won-backed stablecoins and the rise of yield-bearing stablecoins — described by one venture executive as an “inevitability” — appears to be on the horizon.