Matt Hogan, Chief Investment Officer at Bitwise, stated that the "massive trend" of public companies adopting Bitcoin financial strategies will continue to accelerate, as it is still in its early stages. As of the end of March, 79 publicly traded companies currently hold approximately $57 billion worth of Bitcoin. Historically, companies have deposited excess cash in short-term Treasury bonds or bank deposits to preserve value. However, Hogan argues that unprecedented deficits and money printing are now forcing treasurers to seek other stores of value. He said, "They [the companies] need another way to protect their wealth from consumption." They are turning to the best option in this race, which is Bitcoin.