Year-to-date, corporations and businesses are now the largest net buyers of Bitcoin. They’ve outdone even exchange-traded funds (ETFs) and the retail investor in this run-up. Corporate adoption is on a bucks-in-their pockets spree, and it’s personalizing the Bitcoin market. This transition will have interesting implications for Bitcoin’s supply schedule and price.
Bitcoin investment firm River recently announced a jaw-dropping 154% increase in business ownership of Bitcoin since the beginning of 2024. The smart firm brought attention to a key tactic. It’s companies artificially semi-duplicating Bitcoin by exceeding miner supply with increased demand, and this makes up 77% of River’s expansion. River was surprised at how many businesses from every industry signed up.
"We're seeing businesses across all industries sign up to River. They're aligned with Bitcoin and how it can change their future." - River
The story told by that data is one of extraordinary change in who owns Bitcoin. It’s no secret that corporations are accumulating Bitcoin at record rates. At the same time, retail traders and individuals have shrunk their holdings by 247,000 BTC this year. ETFs increased their net Bitcoin reserves by a whopping 49,000 BTC. At the same time, national governments were accumulating nearly 19,000 BTC into their own reserves.
This growing corporate appetite is especially impressive given that Bitcoin has a capped supply. At present, miners generate about 450 coins every day. And the increasing demand from corporations is on track to outstrip supply, raising the distinct possibility that the price will rise.
In early 2025, no fewer than twelve publicly held companies made their first investments in Bitcoin. Their investments drove a subsequent 16% increase in the total amount of Bitcoin held by publicly traded companies. Over 95,000 Bitcoin were poured into corporate treasuries in that time.
Unsurprisingly, finance and investment firms led the way in total investments across corporate investment by sector. On average, they made up an impressive 35.7% of the total Bitcoin bought by public companies. In third were tech firms with 16.8%, and professional and consulting companies came in fourth buying 16.5%.
