Bitcoin: Corporate Adoption on the Rise
A recent analysis by River Financial suggests that Bitcoin could see a significant influx of investment from US companies in the coming months. The report predicts that 10% of US corporations will allocate $10.35 billion to Bitcoin within the next 18 months, accelerating corporate adoption of the cryptocurrency.
Bitcoin Holdings on the Rise
River Financial estimates that business Bitcoin holdings will grow at a rate of 204 to 519 BTC per day until 2026. This translates to a daily investment of $12.2 million to $31.1 million, based on a Bitcoin price of $60,000.
Currently, enterprises hold 3.3% of the total Bitcoin supply, with American companies accounting for nearly half of those holdings. MicroStrategy leads the pack with $12.82 billion in Bitcoin holdings, followed by Marathon Digital at $1.41 billion. Tesla rounds out the top three with $550 million in Bitcoin.
Factors Driving Corporate Adoption
Several factors are contributing to the increasing adoption of Bitcoin by US companies. The launch of Bitcoin exchange-traded funds (ETFs) earlier this year has boosted market confidence, providing institutional investors with a more accessible way to invest in Bitcoin.
While the majority of companies still prefer to hold physical Bitcoin, the rise of Bitcoin-based products and services is further encouraging corporate adoption.
It remains to be seen whether Bitcoin will become widely used as a treasury asset. However, the current trend suggests that corporate adoption of Bitcoin is likely to continue growing in the coming years.
