What Happened?
According to an investigation, corporate entities have increased their holdings by 157,000 bitcoins this year, becoming the largest buyer group of bitcoins. In contrast, retail investors have seen a net outflow of as much as 247,000 bitcoins this year, indicating that individual holders are choosing to sell.
At least 12 publicly listed companies purchased bitcoin for the first time in the first quarter of 2025, demonstrating that the majority of companies have shifted their attitude towards bitcoin from “interest” to actual action.
The current purchasing speed of companies like Strategy has surpassed the overall production of bitcoin miners, leading to an increased scarcity of bitcoin in the market.
Companies Become the Largest Buyer Group of Bitcoin
According to a survey by bitcoin financial services company River, corporations and corporate entities have now become the largest buyer group of bitcoin, surpassing retail investors, governments, and ETFs. This indicates that bitcoin is gradually transitioning from a speculative asset to a corporate reserve asset.
Data from River shows that year-to-date, companies have acquired 157,000 bitcoins, worth approximately $16 billion. Notably, the company Strategy contributed 77% of this increase.
The survey also found that, in addition to large tech companies, an increasing number of cross-industry companies are beginning to actively engage with bitcoin, recognizing its potential to transform the future of business. According to River’s classification, the largest category of companies purchasing bitcoin is financial and investment firms, accounting for 35.7% of the total; followed by technology companies (16.8%) and professional services and consulting firms (16.5%). The remainder covers industries including real estate, non-profit organizations, consumer sectors, industrials, healthcare, energy, agriculture, and transportation.
In addition to corporations and corporate entities, ETFs represent the second largest net buyer source of bitcoin, with a net increase of approximately 49,000 bitcoins (around $5 billion), while government agencies have increased their holdings by about 19,000 bitcoins. In stark contrast, retail investors have seen a net outflow of as much as 247,000 bitcoins this year, indicating that individual holders are selling off, creating a strong contrast with institutional behavior.
The Influence of Bitcoin Extends Beyond Technology and Finance
Amidst this wave of corporate buying, many companies have garnered market attention. For example, the Japanese listed company Metaplanet purchased 1,241 bitcoins again in May, surpassing the holdings of the Salvadoran government and becoming a new dark horse in the corporate world.
Additionally, at least 12 publicly listed companies made their first bitcoin purchases in the first quarter of 2025, totaling over 95,000 bitcoins. According to Bitwise’s report in April, the majority of companies have shifted their attitude towards bitcoin from “interest” to actual action.
New market entrants include the video platform Rumble, the Hong Kong construction company Ming Cheng Group, and the Hong Kong investment firm HK Asia Holdings Limited, demonstrating that the influence of bitcoin is no longer confined to the tech sector.
As more companies begin to buy bitcoin in large quantities and hold it long-term, coupled with the limited supply of bitcoin, the market is also starting to focus on whether this will further drive up prices and potentially create “structural deflation.”
Structural Deflation:
Due to market systems or asset designs, there is a long-term state of “decreasing supply and increasing demand,” leading to upward price pressure and diminishing actual supply.
Reports indicate that Strategy’s current purchasing speed has exceeded the overall production of bitcoin miners, resulting in an annualized deflation rate of -2.3%. Analyst Adam Livingston described this as making bitcoin increasingly scarce in the market, akin to having an early or additional “bitcoin halving.”
As more companies choose to hold bitcoin and refuse to sell, how will this limited-supply asset reshape the rules of the global capital market under surging demand? Perhaps this is indeed the turning point for bitcoin to transition from a speculative commodity to a position of “long-term reserve.”
Source: Cointelegraph, Decrypt