A growing number of public firms may begin purchasing Bitcoin in substantial quantities in the next five years, with more than $300 billion potentially entering the cryptocurrency market by 2030.
That’s the insight from researchers at Bernstein, an asset manager that monitors corporate appetite for Bitcoin, as detailed in a new report. Their estimates hinge on the assumption that additional firms will follow in the footsteps of Strategy’s tactics of retaining Bitcoin as a central component of their balance sheets.
Strategy Sets The Tone
MicroStrategy, recently rebranded as Strategy, has already made waves with its aggressive Bitcoin buys. The firm now holds an impressive inventory of 555,450 BTC, valued at approximately $38 billion, with an average acquisition cost of $68,550 per coin. Recently, they added to their holdings with a purchase of 1,895 BTC for $180 million.
Bernstein projects that corporate treasury investments in #Bitcoin could reach $330 billion by 2029, with Strategy (formerly MicroStrategy) potentially contributing $124 billion of that total. This forecast underscores the growing institutional interest in Bitcoin as a treasury…
— Naeem Aslam (@NaeemAslam23) May 5, 2025
Bernstein posits that as this strategy gains traction, companies with slow growth and excess cash may be increasingly attracted to Bitcoin as a viable investment alternative. Between 2025 and 2030, Bernstein estimates that listed firms alone could direct around $205 billion towards Bitcoin. This figure could be supplemented by another $124 billion from firms that adopt Strategy’s systematic approach to investing in the leading cryptocurrency.
Treasuries Could Fuel Demand
In Bernstein’s analysis, even a minor shift could lead to substantial consequences. They suggest that if merely 20% of the relevant firms were to allocate 25% of their treasury balances to Bitcoin, it could result in a staggering inflow of $190 billion. Many of these firms currently exhibit low growth and lack compelling investment alternatives, making Bitcoin an attractive option for capital allocation.
At present, public companies hold around 720,898 BTC, with a total valuation near $68 billion. This marks a significant increase from the 1.3% of total Bitcoin supply they controlled at the end of 2023, now up to 3.4%. Private enterprises are not far behind, owning approximately 398,323 BTC, worth just over $37 billion.
Increasing Interest and Limited Supply
The uptick in corporate Bitcoin ownership aligns with evolving regulations and accounting practices, reducing bureaucratic hurdles and facilitating easier access for companies considering Bitcoin investments. Furthermore, with a limited supply of available coins and improved capital access, businesses may indeed drive greater demand and potentially uplift prices.
Bernstein highlights Strategy’s role in this evolving landscape. The company has crafted systems and tools that allow it to continue acquiring Bitcoin even amid challenging market conditions. While not every firm may replicate this model, the infrastructure is in place for those that wish to pursue it.
Featured image from Gemini Imagen, chart from TradingView
