Corporate Bitcoin Treasuries Now Hold Over 3% of Total BTC Supply

Author: Helen Partz
Date: 4 June 2025cointelegraph.com

Overview

A recent report by Standard Chartered reveals that 61 publicly listed companies collectively hold 673,897 BTC, accounting for approximately 3.2% of Bitcoin's total supply. This marks a significant increase in corporate adoption of Bitcoin as a treasury asset.cointelegraph.com+1cn.cointelegraph.com+1

Rapid Growth in Corporate Holdings

In the past two months, these corporate treasuries have doubled their Bitcoin holdings from under 50,000 BTC to about 100,000 BTC. This accumulation rate surpasses that of MicroStrategy, which added 74,000 BTC during the same period.cointelegraph.com+1cn.cointelegraph.com+1

Potential Risks and Market Implications

Standard Chartered's global head of digital asset research, Geoff Kendrick, cautions that while corporate Bitcoin treasuries currently add buying pressure, they could become a source of downside price pressure and volatility as market inefficiencies are resolved. Notably, 58 of the 61 companies analyzed have net asset value (NAV) multiples above 1, indicating market valuations exceeding their net assets.cointelegraph.com+1cn.cointelegraph.com+1

Furthermore, 50% of these companies have an average Bitcoin purchase price above $90,000, which is significantly higher than MicroStrategy's average acquisition cost of $70,023 per BTC. This disparity raises concerns about potential losses if Bitcoin's price declines.cointelegraph.com+1cn.cointelegraph.com+1cointelegraph.com

New Entrants in the Bitcoin Treasury Space

Several companies have recently adopted Bitcoin treasury strategies:cointelegraph.com

SolarBank: The Canadian renewable energy developer announced its Bitcoin treasury strategy on June 3, including plans to use Coinbase Prime for secure custody and USDC services.cointelegraph.com+1cn.cointelegraph.com+1

Blockchain Group: The Paris-based crypto firm disclosed a $68 million Bitcoin acquisition.cointelegraph.com+1cn.cointelegraph.com+1

K33: The Norwegian crypto brokerage firm raised $6.2 million in late May to purchase Bitcoin.cointelegraph.com

Industry Perspectives

Despite potential risks, industry leaders remain optimistic about Bitcoin's role in corporate treasuries. Michael Saylor, co-founder of MicroStrategy, stated that the company's capital structure is designed to remain stable even if Bitcoin's price falls by 90% and stays there for several years.cointelegraph.com+1cn.cointelegraph.com+1

Former Binance CEO Changpeng Zhao emphasized the importance of taking calculated risks, noting that "not taking risks is a risk in itself."cointelegraph.com