Public companies ramp up Bitcoin holdings as Strategy sets the pace

來源 Cryptopolitan

Corporate treasuries have overtaken exchange-traded funds (ETFs) in Bitcoin accumulation for the third consecutive quarter, marking a continued shift in institutional strategy as more public companies adopt BTC as a core treasury asset.

Publicly held companies added some 131,000 coins in the second quarter of 2025 alone, according to the data provider Bitcoin Treasuries, expanding their total stash of the digital currency by 18%. ETFs also added 8%, or about 111,000 BTC, during the same period.

Those institutional buyers who are beginning to get exposure to BTC through ETFs have different motivations than public companies, suggested Nick Marie, head of research at Ecoinometrics. So while the institutions focus on market exposure, the public companies buy Bitcoin to maximize shareholder value.

Marie emphasized that market fluctuations or macro trends have less influence on corporate buyers. He noted that the buyers don’t care if the price is high or low—they care about growing their Bitcoin treasury, so they look more attractive to the proxy buyers.

In April, a turbulent market month following President Donald Trump’s tariff announcement, the public company BTC holdings grew by 4% compared to 2% growth among ETFs.

Public companies ramp up Bitcoin holdings as Strategy sets the pace

Public companies currently hold around 855,000 BTC, or 4% of Bitcoin’s fixed supply, while ETFs collectively hold more than 1.4 million BTC, accounting for 6.8% of the total supply. The ETF market saw its major boom after its US approval in January 2024, one of history’s most successful ETF rollouts.

Still, Strategy—the company formerly known as MicroStrategy—remains the torchbearer of the BTC treasury movement, now holding 597,000 BTC. It continues to influence a growing group of over 140 public companies globally that have followed its playbook.

“Strategy is going to be the preferred landing spot for institutional capital because of the deep liquidity around their equity,” said Ben Werkman, CIO at Swan Bitcoin. “But smaller companies still offer strong upside potential for early investors.”

The surge in corporate BTC buying has been accelerated by regulatory clarity under the Trump administration. In March, Trump signed an executive order establishing a US Bitcoin reserve, signaling federal support for the cryptocurrency and helping alleviate lingering reputational concerns.

The second quarter saw new corporate entrants into the Bitcoin market. GameStop began acquiring BTC following board approval in March. On the other hand, KindlyMD merged with Bitcoin investment firm Nakamoto.

ProCap, led by Anthony Pompliano, also launched a BTC acquisition program via SPAC ahead of its public listing.

Long-term viability of Bitcoin treasury Strategy faces growing scrutiny

Despite the current momentum, some experts are skeptical of the long-term sustainability of corporate BTC treasuries. Marie warned the trend might be transitory. The more companies adopt the model, the more diluted the impact becomes. Over time, BTC may become so normalized that proxy investors won’t need to rely on these firms for exposure.

Werkman noted that many investors are betting on leveraged Bitcoin equities as a way to outperform the digital asset itself, due to corporate access to capital markets and their ability to issue shares to finance further BTC accumulation.

Werkman added that companies like Strategy will also convert treasury assets to BTC without using leverage. He says that gives them the ability to back shares with Bitcoin and company performance—a rare combination.

As more companies weigh the risks and benefits of holding BTC on their balance sheets, the race to replicate Strategy’s success story appears far from over, especially in a regulatory climate warmer to crypto than ever before.

KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage

免責聲明:僅供參考。 過去的表現並不預示未來的結果。
placeholder
6月30日財經早餐:關稅、「大而美法案」重磅進展!黃金挫逾70美元,標普、納指創歷史新高美國5月核心PCE物價指數顯示美國通脹仍處於可控,市場焦點從聯准會貨幣政策轉向債務上限僵局與減稅法案對美國形成雙重政策挑戰。G7與美國達協議,作為協議的一部分,美國同意廢除「大而美法案」中第899條(即報復稅)。另外,美國參議院初步投票通過「大而美法案」。美國貿易政策相關利好繼續推動市場風偏回升,美國三大股指普遍上漲,其中標普、納指均創歷史新高。
作者  Insights
6 月 29 日 周日
美國5月核心PCE物價指數顯示美國通脹仍處於可控,市場焦點從聯准會貨幣政策轉向債務上限僵局與減稅法案對美國形成雙重政策挑戰。G7與美國達協議,作為協議的一部分,美國同意廢除「大而美法案」中第899條(即報復稅)。另外,美國參議院初步投票通過「大而美法案」。美國貿易政策相關利好繼續推動市場風偏回升,美國三大股指普遍上漲,其中標普、納指均創歷史新高。
placeholder
AI再掀高潮!Meta股價狂飆,緊隨輝達創下歷史新高TradingKey - Meta宣佈重組AI部門,提振其股價盤中跳漲,創下新的記錄。當地時間週一(6月30日),Meta (META)股價盤中跳漲至747.9美元,創下歷史新高。截止收盤,該股收漲0.61%,報738.09美元。(哪些機構持有Meta股票,可查看「明星投資者」)【Meta股價走勢圖,來源:TradingView】Meta股價上漲主要是受該公司的人工智慧業務推動。Meta Plat
作者  TradingKey
18 小時前
TradingKey - Meta宣佈重組AI部門,提振其股價盤中跳漲,創下新的記錄。當地時間週一(6月30日),Meta (META)股價盤中跳漲至747.9美元,創下歷史新高。截止收盤,該股收漲0.61%,報738.09美元。(哪些機構持有Meta股票,可查看「明星投資者」)【Meta股價走勢圖,來源:TradingView】Meta股價上漲主要是受該公司的人工智慧業務推動。Meta Plat
placeholder
曾準確預言金價3000美元的高管警告:金價飆升至這一水平將預示經濟崩潰24K99訊 礦業公司NexMetals首席執行官Morgan Lekstrom警告稱,金價達到5000美元/盎司並不意味着經濟走強,反而標誌着系統性危機的明顯跡象。
作者  FX168
17 小時前
24K99訊 礦業公司NexMetals首席執行官Morgan Lekstrom警告稱,金價達到5000美元/盎司並不意味着經濟走強,反而標誌着系統性危機的明顯跡象。
placeholder
日幣2025年上半年漲9%!7月繼續升值?分析師這樣說2025年上半年,美元/日圓(USD/JPY)累計下跌9%,創下近年來最佳表現。
作者  Alison Ho
17 小時前
2025年上半年,美元/日圓(USD/JPY)累計下跌9%,創下近年來最佳表現。
placeholder
逢七必漲!美股會打破「7月上漲魔咒」嗎?7月是美股表現最強的月份之一,標普500平均報酬率為3.35%。
作者  Alison Ho
13 小時前
7月是美股表現最強的月份之一,標普500平均報酬率為3.35%。
goTop
quote