The stock market had a shaky start in December, but a group of companies has already started to take the lead—the “crypto reserve players” whose balance sheets are packed with Bitcoin.

Leading the charge is MicroStrategy, followed by MARA, Coinbase, and other companies that are either hoarding coins or have their business deeply tied to BTC. After a brief dip last week, they staged a V-shaped rebound, outperforming the broader market by a wide margin.

Even more crucially, institutional sentiment hasn’t collapsed. Bitcoin has been trading sideways between $84,000 and $91,000 lately, but MSTR is still buying aggressively (currently holding around 650,000 BTC). This move has served as a shot of confidence for the market.

There’s now a clear trend: the correlation between the stock market and the crypto world is getting stronger. Traditional capital is starting to treat these “Bitcoin concept stocks” as high-volatility liquidity indicators—if the crypto market holds steady, so do tech growth stocks.

My take? This situation proves once again that Bitcoin’s status as a corporate asset allocation is becoming solidified. When the market panics, companies holding hard assets are the ones that can weather the storm. This rebound isn’t just a technical bounce; it looks more like smart money casting their votes with real capital.