Key facts
- Metaplanet CEO Simon Gerovich highlighted the global M2 money supply exceeding $100 trillion.
- Gerovich stated Bitcoin's fixed supply of 21 million coins is a long-term bullish factor against expanding money supply.
- Strategy Executive Chairman Michael Saylor views Bitcoin as "digital monetary energy" due to its fixed supply.
- Strategy holds 840,447 BTC, making it the largest corporate holder.
- Metaplanet holds 43,000 BTC, ranking third among corporate holders.
Bitcoin continues to trade within a narrow price range, but two of its largest corporate holders, Metaplanet and Strategy, remain steadfast in their investment thesis. They emphasize Bitcoin's fixed supply of 21 million coins as a superior store of value compared to the ever-expanding global money supply.
Simon Gerovich, CEO of Metaplanet, pointed out that the global M2 money supply has reached an all-time high exceeding $100 trillion. He argued that despite Bitcoin's price decoupling from liquidity over the past year, its fixed supply schedule remains a fundamental bullish driver. "21 million will always be 21 million. When the money supply expands forever, you hold the asset that can't. That's why we hold hard money," Gerovich stated.
Michael Saylor, executive chairman of Strategy, framed the argument around the nature of money itself. He described money as "energy" and Bitcoin as "digital monetary energy," asserting that Bitcoin's efficiency stems from its inability to be arbitrarily expanded. Strategy, the world's largest publicly listed Bitcoin holder, possesses 840,447 BTC, valued at approximately $53 billion. Metaplanet, listed in Tokyo, holds 43,000 BTC, making it the third-largest corporate holder.
Jurrien Timmer, director of global macro at Fidelity, echoed a similar sentiment, suggesting that Bitcoin and Ethereum could benefit if gold begins a significant rally. He noted that based on his regression analysis of global M2 and gold prices, gold is currently undervalued and a rise in gold could lift cryptocurrencies.