MicroStrategy and other Bitcoin treasury-focused companies were early adopters betting on hyperbitcoinization

In a post shared on X on April 26, Adam Back, CEO of Blockstream and creator of Hashcash, discussed the emerging trend of companies and governments integrating Bitcoin (BTC) into their treasuries.

As per the Blockstream chief, treasury firms like Strategy are taking advantage of the gap between the current fiat world and the future of BTC, which has enough scalability for most large listed companies to switch to BTC Treasury.

Hyperbitcoinization is the term used to describe the hypothetical scenario in which BTC surpasses fiat money as the most widely used currency in the world due to its inflationary economics and the growing mistrust of the established financial system.

According to Back, the primary cause of global hyperbitcoinization was still the price of BTC exceeding the inflation of fiat money. Following this, he claimed that some believed that treasury strategy was a passing trend.

In response, he argued that it was a sustainable and rational arbitrage. Additionally, based on his argument, BTC prices have increased over the past four years more quickly than interest and inflation, but this trend is temporary.

Interestingly, Back made these remarks almost two months after U.S. President Donald Trump issued an executive order creating a national Bitcoin reserve using BTC that was forfeited in criminal cases involving the government.

May decide to adopt BTC following the current appealing conditions

Firms like Strategy — the largest corporate holder of BTC — could inspire others to follow suit if they continue expanding their Bitcoin treasuries.

The company’s Bitcoin treasury has made over $5.1 billion in profit since the start of 2025, demonstrating the strategy’s profitability.

Similarly, Japanese investment giant Metaplanet — aka “Asia’s MicroStrategy” — has adopted the same strategy after April 24, when it surpassed more than 5,000 BTC in its reserves. Furthermore, according to Metaplanet, this was not the end; by 2026, it plans to acquire 21,000 BTC, making it the largest corporate Bitcoin owner in Asia.

Furthermore, another thing that would have made it easier for international companies like Strategy to follow suit was the US Federal Reserve’s decision to remove its 2022 guidance that banks shouldn’t deal with cryptos.

With this reversal, U.S. financial institutions might feel more comfortable embracing Bitcoin. In reaction to the withdrawal of the guidance, Saylor stated that banks were now free to start supporting BTC.

Moreover, Iliya Kalchev, a Nexo dispatch analyst, revealed that banks would now be subjected to regular supervision, indicating a more liberal regulatory framework for integrating digital assets.