Source: cryptoslate

Translation: Blockchain Knight

According to a new report released by River Financial, enterprises have become the core driving force behind the Bitcoin bull market in 2025, with corporate Bitcoin holdings now accounting for over 6% of its total supply.

The report found that in just the first eight months of 2025, corporate Bitcoin inflows exceeded $12.5 billion more than the entire previous year, with total holdings reaching 1.3 million BTC.

This scale has grown 21 times compared to 2020. In contrast, individuals remain the primary holders of Bitcoin, accounting for 65.9% of the total supply, while the remainder is held by funds, governments, and other entities.

Data from River shows that since January 2024, Bitcoin treasury companies (businesses established primarily to hold large reserves of Bitcoin) have contributed 76% of Bitcoin purchases. These companies collectively manage over $100 billion in stocks, bonds, and other securities related to Bitcoin exposure.

Additionally, the report emphasizes that traditional industries such as real estate, healthcare, construction, and software are increasingly incorporating Bitcoin into their treasury assets.

The report states: "Bitcoin is no longer limited to miners or crypto-native enterprises."

The report mentions that there are currently 3,000 U.S. companies using River's services, most of which are small and medium-sized enterprises with fewer than 50 employees. These companies often allocate a significant portion of their revenue to Bitcoin to hedge against inflation and banking risks.

On average, companies allocate 22% of their net profits to Bitcoin, and nearly one-third of companies currently hold more than half of their treasury reserves in Bitcoin.

River attributes this trend to Bitcoin's fixed supply, around-the-clock liquidity, and its ability to mitigate counterparty risk, especially highlighted by several high-profile bank failures in recent years.

Furthermore, the report states that improvements in regulatory and accounting clarity have removed major obstacles: particularly after the update to Generally Accepted Accounting Principles (GAAP) in 2024, companies can account for Bitcoin at fair market value, removing a key barrier that existed previously.

At the same time, the U.S. government established a strategic Bitcoin reserve earlier this year, further reinforcing Bitcoin's legitimacy in the corporate world. States like Texas and New Hampshire have also passed legislation to establish their own Bitcoin reserves.

Despite the significant increase in corporate Bitcoin investments, the proportion of companies holding Bitcoin globally is still less than 1%.

River states that public awareness remains the biggest barrier, with multiple surveys showing that many corporate executives still lack a basic understanding of Bitcoin.

However, River predicts that as more companies publicly share their treasury strategies, Bitcoin will gradually become a standard component of corporate balance sheets.

The report concludes: "We believe that all companies will eventually hold Bitcoin on their balance sheets, while still continuing to use dollars for payments."

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