Summary
- Jake Ostrovskis of Wintermute predicts that following MSTR, companies using capital to purchase Bitcoin will be a major trend next year.
- He stated that next year, institutional investors and publicly traded companies increasing their exposure to Bitcoin could contribute to market growth.
- He mentioned that there will be an increase in companies adopting MSTR's convertible bond issuance strategy, and some may invest in Ethereum instead of Bitcoin.
Jake Ostrovskis, an OTC trader at the virtual asset (cryptocurrency) market-making firm Wintermute, stated in an interview with The Block on the 26th (local time) that "following MicroStrategy (NASDAQ ticker: MSTR) by purchasing Bitcoin (BTC) with company capital and adding it to the balance sheet will become a major trend for companies next year."
He explained, "The trend of institutional investors and publicly traded companies stepping into the Bitcoin market and increasing their exposure can act as a significant growth driver for the market."
He continued, "There will be an increase in the movement to stockpile BTC with funds raised by issuing convertible bonds, as adopted by MSTR, and small and medium-sized enterprises are likely to join the BTC purchase and holding strategy following this trend."
Furthermore, he added, "Some companies may adopt MSTR's investment strategy but invest in Ethereum (ETH) instead of BTC."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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