This is a reference to the Fortune 500 companies like Square, Tesla, and Blackrock that hold thousands of bitcoin on their balance sheet.

You can see the current tallies at https://bitcointreasuries.net/

Oh, sure, but just because it's on your balance sheet doesn't mean it's a "store of value". Quite often it may be speculative. Bitcoin is much better at being speculative than storing value, after all.

Great link, thanks.

At the time I looked, MicroStrategy’s market cap is lower than the amount of bitcoin it holds. That has to be awkward if you’re an employee there.

Remember the "institution-grade" investment instruments called CDOs[0]? Pepperidge Farm remembers[1].

[0] https://en.wikipedia.org/wiki/Collateralized_debt_obligation

[1] https://en.wikipedia.org/wiki/Subprime_mortgage_crisis

I'm not sure "institution-grade store of value" is a term that has any specific meaning, but I don't think it's patently incorrect when global investment banks have billions in the space. And this is coming from someone who thinks crypto is a joke.

The phrase "institution-grade" have the strongest meaning in commercial real estate, where they tend to be brand new buildings without any real risk of falling apart during your holding period. They are lower-risk assets. On the other hand, if you're talking about something bonds, you're more likely to hear about "investment-grade" bonds to describe the lower-risk investments. In other words, the exact opposite of Bitcoin, easily one the most volatile assets on the market. (If you want any more volatility, you need to start trading derivatives.)

A few billion in speculative investments doesn't make this "institutional" in a hundreds-of-trillion-dollar market, either.