In recent years, companies have started to view Bitcoin not just as a speculative asset but as a capital preservation strategy against inflation and for long-term growth. Here we examine leading examples and their market effects.
The Rise of Interest in Corporate Bitcoin Treasuries
Companies have shifted from treating Bitcoin as a temporary intrigue to integrating it into their financial strategies. Executives argue that holding BTC is preferable to cash in times of currency debasement.
Strategy of Strategy Inc.
Strategy Inc. (formerly MicroStrategy) began modest Bitcoin purchases in 2020 and by August 2025 had amassed over 632,000 BTC—about 3% of the total Bitcoin supply. The company’s shares have surged more than 3,000% since its strategy shift, attracting investors looking for indirect exposure to BTC. However, given that much of its accumulation was financed through debt, the risk of a price drop is significant.
Market Shifts from Corporate Holdings
The influx of corporations into Bitcoin treasuries is reshaping financial markets. First, corporate demand is tightening supply, potentially pushing prices higher. Second, companies with large BTC reserves are becoming more reliant on BTC price swings rather than operational performance. Accounting challenges associated with such corporate strategies may also introduce risks, including volatility and concentration risks.
The corporate Bitcoin treasury movement is still in its early stages. The sustainability or riskiness of this model will be revealed in the future. Companies like Strategy Inc. and Metaplanet are setting a new tone in corporate finance.
