In a significant shift in Bitcoin acquisition trends, corporations have emerged as the dominant buyers of the cryptocurrency in 2025, outpacing other categories like exchange-traded funds (ETFs) and retail investors. This revelation comes from recent research by Bitcoin investment firm River, which highlights a substantial growth in corporate Bitcoin holdings—up by 157,000 BTC, equivalent to roughly $16 billion at current market values.
Corporations Lead the Charge
Michael Saylor’s Strategy stands at the forefront, accounting for a whopping 77% of this year’s corporate Bitcoin growth. On May 12, River reported on X that it’s not just the big players stepping into the Bitcoin arena. “We’re seeing businesses across all industries sign up to River,” the firm stated, indicating a broader alignment with Bitcoin’s potential to reshape the future. This aligns with Strategy’s ambitious plans, as detailed in Strategy’s $84B Bitcoin Expansion Plan Backed by Wall Street Analysts, highlighting the scale of their commitment to Bitcoin.
Behind corporations, ETFs have increased their Bitcoin stash by 49,000 BTC, valued at about $5 billion. Governments have added around 19,000 BTC, while retail traders have seen a notable decline of 247,000 BTC in their holdings, according to River’s data.
Industry Breakdown and Market Dynamics
The data paints a vivid picture of how different sectors are engaging with Bitcoin. Finance and investment firms are leading the charge, with 35.7% of the total corporate purchases, followed by tech firms at 16.8%. Consulting companies aren’t far behind, contributing 16.5%, while real estate, non-profits, consumer and industrial sectors, healthcare, energy, agriculture, and transportation make up the rest.
Strategy’s recent acquisition spree—adding 13,390 Bitcoin for $1.34 billion—alongside Metaplanet’s additional 1,241 BTC purchase, underscores the escalating corporate interest. These moves have even nudged El Salvador down the rankings, as noted by River. This aggressive acquisition strategy is further supported by Strategy Raising Another $21B to Buy Bitcoin, Posts Large Q1 Loss on BTC Price Decline, indicating their unwavering commitment despite market fluctuations.
Newcomers to the Bitcoin market this year include video streaming platform Rumble, which made its inaugural purchase in March, as well as Hong Kong-based firms Ming Shing and HK Asia Holdings Limited. Notably, at least twelve public companies ventured into Bitcoin for the first time in Q1 2025, as reported by Bitwise in April.
The Supply Squeeze and Deflationary Concerns
This burgeoning corporate appetite raises critical supply and demand questions, given Bitcoin’s finite nature. Analysts, including CryptoQuant CEO Ki Young Ju, suggest that Strategy’s aggressive accumulation—outpacing miner output—could induce a -2.3% annual deflation rate. “Strategy is accumulating Bitcoin at a faster rate than total miner output,” Ju remarked, highlighting a potential supply squeeze.
Author Adam Livingston adds another layer to this narrative, suggesting Strategy’s high demand is effectively “synthetically halving Bitcoin,” further tightening supply.
The implications of this trend are profound. With only 450 new coins being mined daily, these corporate acquisitions could intensify competition for Bitcoin, potentially driving prices to new heights. Yet, this raises questions about the sustainability of such growth and the broader impacts on the market. Can this corporate momentum continue, or will market dynamics shift once again?
As the Bitcoin market evolves, the interplay between corporate buying power and Bitcoin’s fixed supply will be a critical space to watch. The coming months could reveal whether this trend represents a new normal or merely a fleeting phase in Bitcoin’s storied journey.
Source
This article is based on: Hodl my beer: Businesses are the biggest Bitcoin buyers this year
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
