Bitcoin is moving from the fringe to the boardroom, and Allen Helm says he sees the shift firsthand. The co-founder of Bitcoin for Corporations, an organization that helps companies adopt bitcoin, reports that a resounding sentiment inside the banks he talks to is that Bitcoin is no longer a speculative asset. In the conversation, he explains how institutions are structuring digital credit and securities around Bitcoin, and why record ETF inflows from BlackRock matter.

The full discussion is available on YouTube.

Chapters covered in the interview:

• 00:00 – Inside Bitcoin for Corporations
• 01:36 – Why Institutions Aren't Repeating 2017
• 02:33 – Why Institutions and Retail See Bitcoin Differently
• 03:57 – Bitcoiners' Biggest Misconceptions About Institutions
• 06:48 – BlackRock's Record Inflows and Who's Buying Bitcoin ETFs
• 08:37 – J.P. Morgan's Report and Bitcoin as a Non-Speculative Asset
• 09:55 – SpaceX, Tesla, and What Counts as a Bitcoin Treasury Company
• 12:28 – Strategy, Strive, Metaplanet, and Treasury Consolidation
• 15:03 – Will Bitcoin Treasury Companies Move to US Markets?
• 17:48 – "Capital Does What Capital Wants" and Unifying Global Markets

The conversation arrives as institutional involvement in Bitcoin has deepened. U.S. spot Bitcoin exchange-traded funds (ETFs) began trading in January 2024 following approval from the U.S. Securities and Exchange Commission, and BlackRock's iShares Bitcoin Trust has ranked among the largest such funds by assets. Because these funds hold bitcoin directly and trade on regulated exchanges, they make bitcoin exposure available through conventional brokerage accounts — a structural point that underpins the discussion of who is actually buying. The interview's references to 2017 point to the earlier cycle, when bitcoin climbed to then-record highs amid a wave of retail participation, which the discussion uses as a contrast for how institutions now approach the asset. On the corporate side, Strategy — formerly MicroStrategy — has become the largest publicly known corporate holder of bitcoin, Tesla disclosed a bitcoin position in 2021, SpaceX has been reported to hold the asset, and Tokyo-listed Metaplanet has pursued a bitcoin treasury strategy. These corporate holdings underpin the "bitcoin treasury company" category examined in the discussion, and whether companies listed abroad will move to U.S. markets is one of the open questions the interview takes up.

DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

This article first appeared on Bitcoin Magazine and was written by Patrick Green.