Bitcoin is no longer just the domain of crypto diehards and retail investors. In 2025, businesses — from global tech firms to traditional financial institutions — have become the biggest Bitcoin buyers, dramatically reshaping the digital asset’s ownership landscape. According to recent research by Bitcoin investment firm River, corporations have taken the lead in Bitcoin accumulation this year, snapping up more BTC than exchange-traded funds (ETFs), governments, or individual investors.
Leading the charge is Michael Saylor’s company, Strategy, which alone is responsible for 77% of the 157,000 BTC added to corporate treasuries in 2025 — a haul worth roughly $16 billion at today’s market prices. This marks a bold continuation of Strategy’s mission to position Bitcoin as the ultimate treasury asset. River emphasized that this isn’t just about the big names anymore. “We’re seeing businesses across all industries sign up to River,” the firm posted on X (formerly Twitter), highlighting how Bitcoin’s appeal is broadening beyond tech-savvy startups.
In fact, business Bitcoin ownership has skyrocketed by 154% since 2024. River’s breakdown of its corporate client base paints a clearer picture: finance and investment firms make up the largest chunk at 35.7%, followed by technology companies at 16.8%, and professional services firms close behind at 16.5%. Other sectors with growing exposure include real estate, non-profits, healthcare, energy, agriculture, and even transportation.
ETFs, which had a meteoric start following regulatory approvals last year, have still managed to add 49,000 BTC (approximately $5 billion) in net inflows this year, making them the second-largest buyers behind businesses. Governments also increased their Bitcoin holdings by around 19,000 BTC, though this figure pales in comparison to corporate activity. Interestingly, retail investors — once the cornerstone of Bitcoin’s grassroots growth — have seen a collective decline of 247,000 BTC in holdings during the same period.
Several high-profile companies have made headlines with their Bitcoin acquisitions in 2025. Strategy’s most recent purchase saw them scoop up 13,390 BTC for $1.34 billion, while Japanese firm Metaplanet now holds more Bitcoin than the country of El Salvador after its recent addition of 1,241 BTC. Other newcomers include Rumble, the video streaming platform, and two Hong Kong-based firms: construction company Ming Shing and investment firm HK Asia Holdings.
Bitwise reported in April that at least 12 publicly traded companies made their first Bitcoin purchases in Q1 2025 alone. Altogether, over 95,000 BTC were added to corporate treasuries during the first quarter, indicating a continued appetite among institutional buyers despite price volatility.
With only 450 new Bitcoins minted per day due to the recent halving, corporate buying sprees like Strategy’s are putting unprecedented pressure on supply. Analysts believe this could contribute to a deflationary environment for Bitcoin. Ki Young Ju, CEO of CryptoQuant, noted that Strategy’s rate of accumulation outpaces miner output, effectively driving Bitcoin into a -2.3% annual supply contraction.
Author Adam Livingston took it one step further, saying Strategy is “synthetically halving Bitcoin” through relentless demand, emphasizing the growing imbalance between supply and large-scale acquisition.
The message is clear: Bitcoin’s narrative is evolving, and institutions are no longer watching from the sidelines. Instead, they’re diving in headfirst — and reshaping the market in the process.
