PANews reported on May 8 that according to Bitcoinmagazine, Chris Kuiper, vice president of research at Fidelity Digital Assets, gave a speech at the Strategy World 2025 conference, calling on companies to re-examine their considerations of risk, capital allocation and long-term financial health. He pointed out that Bitcoin's compound annual growth rate over the past decade has reached 79%, far exceeding the nominal return rate of 1.3% of investment-grade bonds, proving that it is not only a speculative asset, but also a strategic reserve. He emphasized that companies need to re-evaluate risk and capital allocation because inflation and currency depreciation are threatening balance sheets, and the actual returns of traditional safe havens such as US bonds have turned negative.
In response to the controversy over Bitcoin volatility, Kuiper proposed position adjustments and long-term strategies, suggesting that companies allocate 1-5% of their assets to Bitcoin to improve risk-adjusted returns and limit drawdowns. He also took Microsoft as an example, pointing out that if excess cash is taken into account, its return on invested capital (ROIC) will drop from 49% to 29%, highlighting the inefficiency of cash. He concluded that companies should pay more attention to the balance sheet rather than just the income statement, and that Bitcoin can transform idle cash into productive assets, and asked executives: "Can your opportunities outperform Bitcoin?"
