Adam Back’s Insights on Bitcoin Adoption
Renowned British cryptographer Adam Back has expressed his astonishment regarding the lack of adoption of Bitcoin strategies by major corporations, particularly highlighting the approach taken by Michael Saylor, co-founder of Strategy. In a post on X, Back remarked:
“It is astonishing how few companies have taken this route so far. Despite Saylor’s impressive performance, outpacing all US stocks, the response from other companies has been minimal.”
Back, who serves as CEO of Blockstream, pointed out that Saylor actively encourages corporate engagement with Bitcoin through his annual conference dedicated to this cause.
The Path Toward Hyperbitcoinization
Earlier this week, Back noted that firms like Strategy are paving the way for what he describes as “hyperbitcoinization.” He also forecasts that the upcoming Bitcoin 7 could soon surpass the traditional “Magnificent 7” in significance. As Saylor updates followers on social media about his company’s Bitcoin transactions, anticipation builds for a new purchase announcement expected this Monday, which would contribute to an expanding total holding that is nearing 540,000 BTC.
Corporate Hesitation Towards Cryptocurrency
In stark contrast to Strategy’s bullish stance, it has been reported that shareholders of major tech player Microsoft have largely dismissed the idea of investing in Bitcoin, underlining the ongoing hesitation among most companies to adopt cryptocurrency in their business models. In a culture that urges caution, Saylor’s mantra remains clear:
“Stay Humble. Stack Sats.“
