Semler Scientific Executive Explains Why More Firms Are Turning to Bitcoin Reserves

The adoption of the ‘Saylorization’ strategy has emerged as one of the defining financial trends in 2025. Publicly traded companies, from Japan’s Metaplanet to Europe’s Blockchain Group, are restructuring their capital frameworks to prioritize Bitcoin (BTC) accumulation. 

Joe Burnett, Director of Bitcoin Strategy at Semler Scientific and former Director of Market Research at Unchained, a Bitcoin financial services firm, noted that these firms are not merely following the US lead but, in some cases, outpacing it. In an exclusive interview with BeInCrypto, Burnett delved into what’s driving companies toward digital gold and how Bitcoin is reshaping corporate reserves.

Bitcoin: The Asset for Resilient Corporate Balance Sheets

BeInCrypto recently reported that at least 61 companies have adopted a Bitcoin treasury strategy, and more keep joining the list. Whether Brazil’s Méliuz or Japan’s ANAP Holdings, everyone is now adding Bitcoin to their balance sheets.

Burnett argues that this isn’t merely a passing trend but the emergence of Bitcoin as the corporate treasury asset of the next decade.

“Looking beyond the size of the raises, what’s key here is the intent: companies worldwide are optimizing their financial infrastructure around Bitcoin. We’re not just seeing balance sheet hedges anymore, but full treasury engines built on hard money principles,” he said.

So, what’s fueling this global pivot? He explained that Bitcoin addresses critical gaps in financial infrastructure. In regions where inflation erodes cash reserves, access to dollars is restricted, or cross-border payments are slow and costly, Bitcoin offers a compelling alternative. 

Even in stable markets, the motivations differ but are no less strategic. Companies are allocating Bitcoin as a long-term reserve asset, drawn to its unique monetary properties: a fixed supply, global neutrality, and transparent issuance.

“In both contexts, Bitcoin isn’t replacing the system, but becoming an important hedge for companies thinking beyond short-term market cycles,” Burnett told BeInCrypto.

The executive emphasized that while holding Bitcoin can protect capital, integrating it into the capital structure transforms it into a ‘working asset.’ Bitcoin’s global tradability, instant settlement, and immunity to capital controls enable companies to access credit, improve liquidity, and reduce reliance on traditional financial systems. 

This is particularly valuable in markets where credit is scarce or infrastructure is underdeveloped.

“For forward-looking companies, Bitcoin adoption isn’t just about preserving value. It’s about building a more resilient and flexible balance sheet that can operate across both legacy and emerging financial systems,” he remarked.

The Future of Bitcoin Reserves in Corporate Capital Structures 

While firms are already using Bitcoin as a reserve asset and loan collateral, Burnett predicts that the asset will become a foundational element of corporate capital structures over the next decade.

“We’ll likely see more firms issue debt to acquire Bitcoin or use it as collateral in credit and liquidity strategies, a playbook pioneered by MicroStrategy that’s now being adapted in both public and private markets,” the executive stated.

This approach is gaining traction as companies rethink how they balance equity, debt, and cash reserves. According to Burnett, as Bitcoin’s role as a financial instrument grows, it will help companies create new methods for raising capital and managing their financial operations. 

Thus, companies could begin to operate outside the traditional banking system, using Bitcoin-based strategies for treasury management and capital formation. 

But what does this mean for traditional financial institutions? With BTC’s growing demand, traditional financial institutions face a reckoning. 

“Bitcoin challenges some of the core assumptions traditional financial institutions are built. It’s a bearer asset with final settlement, not something you can freeze, reverse, or intermediate,” Burnett noted.

However, he added that some institutions are already adapting. Banks like BNY Mellon and BBVA are exploring custody and advisory services. 

Yet, Burnett believes these institutions still rely on traditional financial systems and infrastructure that are not designed for digital assets like Bitcoin. Therefore, without a deeper integration into the Bitcoin-native ecosystem, these institutions will face challenges in fully supporting companies using Bitcoin as a central part of their financial strategy. 

So, the banks would need to adopt more advanced, Bitcoin-specific systems that operate within the decentralized digital currency framework.

“The divide is becoming clearer: institutions that treat Bitcoin as core infrastructure vs. those that delay. The ones moving early will be better positioned to support clients operating in a world where assets settle globally, transparently, and without trusted intermediaries,” Burnett commented.

How Companies Can Navigate Bitcoin Reserve Risks

It is worth noting that the Bitcoin reserve strategy is not without challenges. Sygnum recently warned that companies face insolvency risks and could also contribute to market destabilization.

Burnett acknowledged these concerns. He attributed the risks to poor execution rather than Bitcoin.

“If you’re using short-term capital, have no access to liquidity, and no internal process for handling market volatility, that’s a fragile setup. It’s not that Bitcoin causes the risk; it’s that some firms skip the structure they’d normally apply to any other volatile asset,” he mentioned to BeInCrypto.

According to Burnett, the solution lies in disciplined strategies. Companies that use long-term capital, establish clear policies, and avoid leverage can treat Bitcoin as a stable reserve rather than a speculative bet. 

Solid infrastructure—such as multi-institution custody, access to credit, and strong internal controls—is critical to ensuring Bitcoin fits seamlessly into a broader treasury strategy.