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

Jeff Park, the head of Bitwise Alpha strategy, posted on X platform that some people believe that Microsoft should not buy Bitcoin to enhance its balance sheet, as it would distract their attention from core business. However, they overlooked a key understanding of modern equity: a moderate BTC allocation would make the company like wearing a golden armor, much stronger than any available financial engineering. This strategy will make stocks harder to short, and give the balance sheet greater upside potential in index trends. Moreover, 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 reserves. Even allocating 1-5% of BTC will not make shareholders worry about losses (nor will it affect its volatility), but there will be asymmetric financial upside potential. Board members who do not understand this fiduciary responsibility will not stay in this world for too long. Equity is only a "return on investment", and does not need to be made overly complex by injecting personal interests.