Investment firms with Bitcoin-focused treasuries are front-running global Bitcoin adoption, which may see the world’s first cryptocurrency soar to a $200 trillion market capitalization in the coming decade.

Institutions and governments worldwide are starting to recognize the unique monetary properties of Bitcoin (BTC), according to Adam Back, co-founder and CEO of Blockstream and the inventor of Hashcash.

“$MSTR and other treasury companies are an arbitrage of the dislocation between the bitcoin future and todays fiat world,” Back wrote in an April 26 X post.

“A sustainable and scalable $100-$200 trillion trade front-running hyperbitcoinization. scalable enough for most big listed companies to move to btc treasury,” he added.

Hyperbitcoinization refers to the theoretical future where Bitcoin soars to become the largest global currency, replacing fiat money due to its inflationary economics and growing distrust in the legacy financial system.

Source: Adam Back

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Bitcoin’s price outpacing fiat money inflation remains the main driver of global hyperbitcoinization, Back said, adding:

“Some people think treasury strategy is a temporary glitch. i’m saying no it’s a logical and sustainable arbitrage. but not for ever, the driver is bitcoin price going up over 4 year periods faster than interest and inflation.”

Back’s comments come nearly two months after US President Donald Trump signed an executive order to establish a national Bitcoin reserve from BTC forfeited in government criminal cases.

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Global firms continue Bitcoin accumulation

Continued Bitcoin investments from the likes of Strategy, the largest corporate Bitcoin holder, may inspire more global firms to follow suit.

Strategy’s approach is proving to be lucrative, with the firm’s Bitcoin treasury generating over $5.1 billion worth of profit since the beginning of 2025, according to Strategy’s co-founder, Michael Saylor.

Source: Michael Saylor

Japanese investment firm Metaplanet, also known as “Asia’s MicroStrategy,”  adopted a similar strategy, since surpassing 5,000 BTC in total holdings on April 24, Cointelegraph reported.

As Asia’s largest corporate Bitcoin holder, Metaplanet plans to acquire 21,000 BTC by 2026.

US financial institutions may also have more confidence in adopting Bitcoin after the US Federal Reserve withdrew its 2022 guidance discouraging banks from engaging with cryptocurrency. “Banks are now free to begin supporting Bitcoin,” Saylor said in response to the guidance withdrawal.

“Banks will now be supervised through normal processes, signaling a more open regulatory environment for digital asset integration,” Nexo dispatch analyst Iliya Kalchev told Cointelegraph.

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Comedian and actor TJ Miller says it only takes a little over two full days to get the average person up to speed on Bitcoin. However, when asked why more celebrities aren’t Bitcoiners, he says most people simply refuse to ever sit down and study again.

“It is really hard to get people to study after they graduate, from any level,” Miller told Natalie Brunell on the April 23 episode of Coin Stories. Miller claimed it takes “about 50 hours of study” to understand Bitcoin (BTC).

Hollywood rewards those who “do not think differently”

“So to say to somebody it is going to take 50 hours for you to understand this, they are like, ah, I don’t want to,” he said. “They can’t even watch a Netflix series; they can’t even watch White Lotus because it takes seven hours,” he said.

Comedian and actor TJ Miller spoke to Bitcoiner Natalie Brunell on the Coin Stories podcast. Source: Natalie Brunell

Miller said it takes “such a paradigm shift” to embrace Bitcoin, not just in money or the internet, but in life — and that’s also why you don’t see more Hollywood celebrities becoming Bitcoin maxis:

“Hollywood rewards people that do not think differently.”

During a Bitcoin lunch hosted by crypto entrepreneur Anthony Pompliano, Miller introduced himself that, to his knowledge, he is “the only celebrity that is a Bitcoiner.”

“I can’t really think of anyone else,” Miller said.

While there aren’t many celebrities known to be publicly active in the Bitcoin community, many have launched their own memecoins in recent years, including Iggy Azalea, Caitlyn Jenner, and Hailey Welch aka “Hawk Tuah.”

However, Miller said he has been trying to educate people on Bitcoin for quite some time. He said when Bitcoin was trading between $8,000 and $12,000, he was telling friends to “just put $1,000 into Bitcoin.”

Miller is confident that, at some point in the future, there will be a Hollywood movie about the Bitcoin revolution.

Related: Bitcoin ETFs on $3B ‘bender,’ log first full week of inflows in 5 weeks

“But it’ll be interesting because it didn’t happen all at once,” he said. “It didn’t happen in three years, and it hasn’t happened in ten years, so it will be interesting to see how they can connect the dots,” he added.

Cointelegraph’s Gareth Jenkinson recently sat down with TJ Miller, where it became evident that his enthusiasm for Bitcoin isn’t just surface-level. He wants to use his platform to educate and inspire others to take it seriously.

“You can tell that I’m passionate about it. And so that’s what I’d like to do is sort of be able… to be somebody that helps bring cultural awareness, spread awareness and just a trusting name and face in the Bitcoin community that hopefully will bring more people to it,” Miller said.

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Key takeaways:

Data suggests that Bitcoin currently trades at a 40% discount.

Over 36,000 Bitcoin were withdrawn from Coinbase and Binance on April 25.

Bitcoin’s fractal pattern from Q4 2024 could propel prices above $100,000 in April.

Bitcoin (BTC) is currently trading at a 40% discount to its intrinsic value, according to Capriole Investments founder Charles Edwards.

In a recent post on X, Edwards highlighted that since the April 2024 halving, which reduced block rewards to 3.125 BTC, Bitcoin’s energy value—an estimate based on mining costs and energy consumption—stands at $130,000.

Bitcoin’s intrinsic value based on energy consumption, and market price. Source: X.com

Recent data from CryptoQuant indicated that over 8,756 BTC ($830 million) were withdrawn from Coinbase on April 24. Negative netflows from Coinbase could point toward institutional buying, or ETF-related purchases reflecting underlying demand.

Bitcoin exchange netflows on Coinbase. Source: CryptoQuant

This development lines up with the spot Bitcoin ETF inflows witnessed this week. Bloomberg ETF analyst Eric Balchunas suggests that institutions went on a $3 billion ‘Bitcoin bender’ over the past few days.

Binance also witnessed exchange outflows of 27,750 BTC on April 25. Alphractal founder Joao Wedson noted that “this is the third largest Bitcoin outflow in the exchange’s history.” Although large outflows and positive price action suggest bullish tailwinds, Wedson said they do not automatically mean a continued rally. The analyst said,

“In 2021, massive outflows didn’t prevent the dump triggered by China’s crypto ban (April–May). On the other hand, continuous outflows over several days, like during the FTX collapse, signaled a bottom and recovery.”

Related: Bitcoin ETFs on $3B ‘bender,’ log first full week of inflows in 5 weeks

Can this Bitcoin fractal push BTC above $100K in April?

Bitcoin’s weekly performance marks its highest return in 2025 and its most significant uptick since November 2024. Besides similar returns, the BTC price also reflects identical price action.

Bitcoin 1-day chart. Source: Cointelegraph/TradingView

As illustrated in the 1-day chart, Bitcoin is consolidating at a higher range after its breakout, mirroring its behavior from Q4, 2024. (circled). After a 13% rise between Nov. 5-9, BTC posted another 15% increase during Nov. 10-11. The breakout took place during the weekend as well.

Similarly, BTC prices have risen 11% between April 21-25. With the relative strength index (RSI) also exhibiting similar buying pressure, a 7-10% jump over the next few days could take BTC above $100,000.

While fractal patterns may repeat, they aren’t perfectly reliable. Unlike Q4, when Bitcoin entered price discovery and rallied without resistance, the current overhead resistance level at $96,100 could impede a breakout.

Related: Bitcoin spikes to 7-week highs as analyst doubts chances of $100K rebound

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.