What was once the domain of tech-savvy enthusiasts and speculative retail traders has undergone a profound transformation. Bitcoin is now firmly embedded in the portfolios of the world’s largest financial institutions, corporations, and even sovereign governments — and the pace of that change accelerated dramatically throughout 2025 into the present year.
A remarkable structural shift in Bitcoin ownership took place in 2025, with the distribution of the asset moving decisively away from individual investors and toward institutions, companies, and governments. Throughout the year, companies increased their Bitcoin portfolios by 489,000 BTC, achieving the highest net gain among all segments. On the individual investors pulled back, with total Bitcoin holdings in personal wallets decreasing by 696,000 BTC — the largest net decrease on record — effectively providing the supply that enabled institutional acquisitions.
The sheer volume of corporate buying tells the story most clearly. Nearly 200 public companies bought up roughly $96 billion in Bitcoin over the course of 2025, while another 68 treasuries added more than $22 billion in Ether to their balance sheets. Leading the charge is Strategy Inc. — formerly known as MicroStrategy — which has built what is now the largest corporate Bitcoin position in the world. Strategy holds 671,268 coins, a portfolio worth approximately $58.9 billion at current prices, and eleven other companies have converted at least $1 billion of cash into Bitcoin on their balance sheets.
The beliefs driving these purchases are rooted in a few core convictions. Institutions increasingly view Bitcoin as a hedge against currency debasement and long-term inflation, a “digital gold” capable of preserving value in a world of expanding money supplies. Investors have turned to Bitcoin to potentially improve risk-adjusted returns and as a potential debasement hedge, with Bitcoin commanding a market capitalization of approximately $1.65 trillion — nearly 65% of the entire global crypto market. There is also a powerful momentum argument: as more credible players enter the space, the legitimacy of the asset itself grows, drawing in the buyers.
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