Corporate treasury buying of bitcoin (BTC) could reach $330 billion by the end of 2029, broker Bernstein said in a research report Monday.
Strategy (MSTR) is likely to be the largest buyer, with an additional $124 billion of the world's largest crypto, in the broker's bull case. The company led by Michael Saylor announced a further $21 billion at-the-market common stock offering last week to buy more bitcoin.
"The U.S. pro crypto regulatory regime have further accelerated the corporate ownership growth of bitcoin," analysts led by Gautam Chhugani wrote.
Bernstein expects other listed companies to allocate around $205 billion to bitcoin acquisition strategies, led by smaller firms with lower growth looking to emulate Strategy's treasury model.
Public companies now own ~2.4% of the bitcoin supply, or about 720,000 BTC on their balance sheets, the report noted.
Still, Strategy's "scale is hard to replicate" and not every bitcoin treasury will be successful in attempting to replicate the company's playbook, the report added.
Strategy acquired an additional 1,895 bitcoin last week for $180.3 million.
Read more: Michael Saylor's Strategy Adds 1,895 Bitcoin, Bringing Company Stack to 555,450 BTC
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