Firms without Business Models: The Bitcoin Band-Aid

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Firms without Business Models: The Bitcoin Band-Aid 🤣

Firms without Business Models: The Bitcoin Band-Aid

Oh honey, it looks like some companies are so desperate for a business model, they’re just buying Bitcoin and hoping for the best. I mean, who needs a solid plan when you can just throw money at a cryptocurrency? 🤑

Jason Calacanis, a prominent US-based angel investor, had some choice words for GameStop’s decision to invest in Bitcoin. In a March 26 X post, he said:

“If you’re a public company that can’t figure out a business model, buy Bitcoin! This might actually be great advice if [Strategy co-founder Michael Saylor] is gonna buy $1T in Bitcoin.”

But, Tomas Fanta, principal at crypto investment firm Heartcore, is like, “Uh, no, guys, this is actually a good idea.” He thinks there are some tangible benefits to holding Bitcoin on a corporate balance sheet, like long-term price appreciation and lower correlation to equity markets over time. 📈

“I do disagree with the view, though, that failing companies should be using Bitcoin as the last-ditch strategy,” Fanta said. I mean, can’t we just give them a participation trophy and a participation ribbon instead? 🎉

Is GameStop’s adoption part of a trend?

Fanta thinks so, and he’s not alone. Saul Rejwan, managing partner at crypto early-stage venture capital firm Masterkey, said that companies are increasingly trying to secure themselves against long-term monetary shifts. Like, who doesn’t want to be a digital native, right? 🤖

“Bitcoin’s role as a corporate reserve asset is no longer fringe; it’s becoming a legitimate play for companies that want to align themselves with a digitally-native, inflation-resistant financial future,” he said. GameStop’s move is like, the beginning of a trend, or something. 🎉

Adopting Bitcoin is adapting to change

Rejwan also noted that historically successful companies often falter when they resist change. Like, Nokia, for example. And adopting Bitcoin could be viewed as a strategic adaptation. Or, you know, just a Hail Mary pass. 🏈

“When done transparently and with proper risk management, Bitcoin can bring long-term resilience to corporate balance sheets — especially for brands with low time preference and strong alignment with digital-native values.”

This idea was also repeated by Georgii Verbitskii, founder of crypto investment app TYMIO, who said that GameStop “could well become the example the market is waiting for.” He added:

“Adding Bitcoin to a corporate balance sheet isn’t just speculative — it has real, long-term upside if executed properly.”

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2025-03-26 17:20