BTC: Perfect Asset for 1000 Years, Treasury & Custody Risks
At the Baltic Honeybadger conference in Riga, analyst Willy Woo declared Bitcoin the “perfect asset” for the next 1,000 years, citing its fixed supply and trustless network. He noted Bitcoin’s market cap of $2.42 trillion is still under 11% of gold’s valuation and below the U.S. dollar money supply. Woo warned that opaque debt structures in corporate Bitcoin treasuries pose a treasury risk that could trigger a bubble collapse, and that altcoin treasuries may repeat these mistakes. He also highlighted custody risk from growing reliance on spot Bitcoin ETFs and custodial services like Coinbase Custody, which could expose coins to government intervention or a rug pull. Debifi CEO Max Kei predicted a trend toward self-custody spreading from institutions to businesses and individual investors. Blockstream CEO Adam Back noted that firms unable to beat Bitcoin’s expected returns should simply invest in Bitcoin, making corporate adoption the logical strategy. Traders should watch these treasury and custody risks as BTC gains momentum.
Bullish
The conference’s endorsement of Bitcoin as a “perfect asset” and the push for corporate adoption lend strong long-term bullish momentum to BTC. While warnings about treasury and custody risks may cause short-term caution, they also highlight areas where traders can mitigate exposure and seize arbitrage opportunities, reinforcing confidence in Bitcoin’s resilience and growth potential. The emphasis on ETF inflows, self-custody trends, and fixed supply underpins a positive price outlook over both the near and distant future.