Companies around the world might stash a lot more Bitcoin. A research note from Bernstein says they could add up to $330 billion to their digital piggy banks over the next five years. This comes as more big players get into crypto. It also follows the lead of companies like Strategy, which piled into Bitcoin big time.
- Companies could add up to $330 billion to their Bitcoin holdings in the next five years, according to Bernstein. This is driven by more institutional adoption.
- MicroStrategy, led by Michael Saylor, has significantly increased its Bitcoin holdings, setting an example for other companies. They have used various financial strategies to acquire Bitcoin.
- Regulatory changes, particularly in the U.S., are expected to further drive Bitcoin adoption by both companies and governments. This includes potential moves by the U.S. government to create a Bitcoin reserve.
Corporate Bitcoin holdings jumped 160% since late 2023. Strategy drove much of that. The company, run by Michael Saylor, now holds about 555,450 BTC. That is over 2.6% of all the Bitcoin that will ever exist. They bought it for around $38 billion since 2020. That is a lot of digital gold.
Strategy used different ways to pay for its Bitcoin habit. They sold company stock. They took on debt. They used cash the business made. They called this their “21/21” plan back in late 2024. Just last week, Strategy said they might even double their target to $84 billion. Bernstein thinks they could go even higher. “In our bull case,” Bernstein wrote, “we expect MSTR to hyper scale its capital strategy, utilizing ~ $124 billion for bitcoin acquisition.” That is a serious commitment.
So, who else might follow Strategy’s lead? Bernstein figures other companies with over $100 million in cash, but not many places to grow fast, could put in around $190 billion together. Smaller companies that are growing quickly might add another $11 billion by 2026. Big companies are still a bit shy, the analysts said. But maybe ten of them could put in $5 billion by 2027 if Bitcoin starts looking even more solid.
But copying Strategy is not easy. Especially for smaller businesses. They have different rules about risk. Their managers might not get it. “MSTR’s edge lies in its financial innovation in building the bitcoin-linked fixed-income stack,” Bernstein noted. Just doing what Strategy did won’t make every Bitcoin treasury work out, they think.
Strategy’s big Bitcoin buys got others thinking. They started copying the idea of holding Bitcoin like a standard. But Bernstein sees something else as the real game changer for getting huge amounts of money into Bitcoin. That is changes in rules from governments.
Think about it. President Donald Trump said he wants the United States to be the world’s crypto hub. He signed an order to create a national Strategic Bitcoin Reserve. This reserve would use Bitcoin taken from criminals. It is like finding buried treasure, but digital. Lawmakers like Senator Cynthia Lummis from Wyoming suggested the U.S. should aim for 5% of all Bitcoin. The U.S. already has the biggest government pile, about 198,012 BTC, according to BitcoinTreasuries data. That is a nice start.
Bernstein said any new buys from the market to build up that reserve, beyond the seized coins, would really speed up governments getting into Bitcoin. It would go beyond just companies and institutions.
The SEC (Securities and Exchange Commission) made a big move in January. They took back a rule called SAB 121. This rule made it hard for banks to hold crypto for customers. Getting rid of it opens the door for banks to offer crypto services. Policymakers are also getting closer to rules for stablecoins (crypto coins meant to stay at a steady price). Though, honestly, some folks in the Democratic party are still arguing about the details. It is never simple, is it?
Bernstein analysts believe that as the U.S. starts looking more friendly to crypto, other countries will get clearer rules too. They think U.S. companies listed on stock markets will be the first to really adopt Bitcoin treasuries. This is because the U.S. government seems serious about pushing crypto rules forward and bringing the industry into the mainstream. It is like the U.S. is setting the pace.
Even the UK Treasury showed interest in working with the U.S. government back in April. They want to help the crypto industry grow. British officials also put out their own draft rules for digital assets recently. They asked people for their thoughts on the ideas last week. It seems the world is starting to pay attention.
