Summary
- Publicly traded company Cathedra adopts Bitcoin as the primary treasury reserve asset.
- Its move means the recognition of the potential of Bitcoin and crypto’s role in the future of finance.
According to new reports, publicly traded company Cathedra has adopted Bitcoin as its primary treasury reserve asset.
In an official note dated September 16, Cathedra Bitcoin Inc., a Bitcoin mining company in the US, revealed that they have been vocal about their Bitcoin thesis for a long time.
They highlighted their belief that we are in the early innings of a multi-decade trend that will see BTC emerge as a dominant global reserve asset due to the following factors:
- Its unique monetary properties
- Prevailing macroeconomic and geopolitical conditions
Bitcoin, a Top Performing Asset of the Last Decade
According to their notes, Bitcoin was among the top-performing assets of the last decade and they expect comparable performance in the coming decade as well.
They also revealed their goal to accumulate BTC on behalf of their shareholders, and in recent months, they have heard repeatedly from many investors that the growth in Bitcoin or sats is the most important metric to them.
The company’s plan is to make all capital allocation decisions with the intention of maximizing their shareholders’ pre-share Bitcoin holdings.
Accoridng to them, this philosophy has been always held in their minds and now it has become formalized as their explicit policy and primary objective in stewarding shareholder capital.
Adopting BTC as their primary treasury reserve asset by Cathedra is a step forward in promoting the adoption of BTC and crypto, highlighting increased trust in the future of digital assets.
2024 has seen increased institutional adoption of Bitcoin, especially with the launch of BTC ETFs in the US, which triggered a strong wave of investments.
Other important names that disclosed indirect investments in Bitcoin are Morgan Stanley, and Goldman Sachs, among many others.