Strategy's Scale May Give Ammous' Treasury Rivals a Run for Their Money

Economist Saifedean Ammous, author of The Bitcoin Standard, says companies holding large amounts of Bitcoin for treasuries might struggle to compete with Michael Saylor's Strategy due to its scale and financing strength.

Strategy's corporate balance sheet gives it an advantage over smaller treasury companies, according to Ammous. He points out that the company has 847,666 BTC purchased for $63.95 billion, alongside a reported $5.02 billion US dollar reserve to cover preferred stock dividends and debt interest.

Ammous frames corporate Bitcoin adoption as a reserve strategy for surplus cash rather than operational liquidity. He warns that Strategy is not risk-free and prefers holding Bitcoin directly.