Corporate giants may not follow MicroStrategy's Bitcoin adoption play, Raoul Pal explains

Earlier this year, business intelligence giant MicroStrategy put $425 million of its treasury funds into Bitcoin.

The move was largely seen as a big step in the right direction for mainstream Bitcoin adoption.

MicroStrategy, with its CEO and founder Michael Saylor, a Bitcoin skeptic-turned bull, may not usher in massive corporate adoption for crypto's pioneering asset according to former hedge funder Raoul Pal.

"I don't think Michael is going to drive corporate adoption in the space, because he's really speaking the language of Bitcoin and not the language of corporate treasurers, and that has to happen," Pal told podcaster Peter McCormack for an episode of the What Bitcoin Did podcast, published today.

"Forget the amount of money it is, it was a large part of the cash reserves," Pal said of MicroStrategy's BTC pickup.

"Now, most companies won't do that, but Michael's a true believer," Pal explained, leading into his quote on Saylor not speaking the right language for adoption growth.

"I've mentioned this numerous times - you're not going to get the pension system and the asset allocations until you start talking in terms of bearer asset allocation models," Pal said.

Pal himself admittedly did not know the exact asset allocation strategies various sectors employ, but he did describe their widespread prevalence.

A number of other mainstream players have entered large Bitcoin positions in 2020, such as billionaire Paul Tudor Jones.

The corporate trend into the asset is still very much in its infancy, however.