Bitwise Alpha Strategy Director: Moderate BTC allocation will make companies like wearing golden armor

Jeff Park, head of strategy at Bitwise Alpha, wrote on the X platform that some people think Microsoft should not buy Bitcoin to enrich its balance sheet, saying that it will distract them from their core business, but they have overlooked a key understanding of modern equity: a moderate BTC allocation will make the company like a golden armor, much stronger than any available financial engineering. This strategy will make it more difficult to short stocks, and the balance sheet will face a greater tail upside in the exponential trend. If you believe in BTC, you will understand that Bitcoin actually provides one of the largest long-term capital cost arbitrage opportunities, especially if you have $70 billion in cash idle. Even if 1-5% of BTC is allocated, shareholders will not worry about losses (nor will it affect the volatility of its multiples), but there will be asymmetric financial upside. Board members who do not understand this fiduciary responsibility will not stay in this world for too long. Equity is just a "return on capital" and does not need to be overly complicated by injecting personal interests.