79 companies now hold nearly 700,000 BTC, equivalent to an estimated treasure of 57 billion dollars.

Bitcoin, often compared to a digital gold rush, takes a decisive step. Imagine: 79 companies now hold nearly 700,000 BTC, equivalent to an estimated treasure of 57 billion dollars.

"A treasure map in the heart of today’s economic landscape reveals an astounding accumulation of Bitcoin by companies. As of the third quarter of 2024, 79 companies alone hold nearly 700,000 BTC, an estimated value of 57 billion dollars.

These figures, part of Bitwise’s analysis, highlight not only the magnitude of crypto assets but also the decisive step taken by companies in shifting their investment strategies.

While a rising interest in Bitcoin has been observed throughout 2024, these figures demonstrate a turning point. Far from fleeting speculation, Bitcoin is establishing itself as a key component in the reserves of economic giants. A silent yet explosive revolution.

700,000 BTC held by companies: a strategic springboard

Bitwise data reveals a startling reality: 688,000 BTC are now controlled by companies, representing 3.28% of the total supply. An increase of 16.11% in one quarter.

This acceleration is no coincidence. It signifies renewed confidence in an asset perceived as insurance against inflation and monetary turbulences. Among these actors, Strategy dominates unchallenged. With 531,000 BTC recently acquired, the Virginian firm embodies an aggressive strategy. Its recent purchase of $285 million worth of Bitcoin illustrates a conviction: Bitcoin is no longer an option but a necessity. A logic shared by 12 new public companies that joined the movement this quarter.

Meanwhile, the adoption of the FASB standard changes the game. By enabling companies to value Bitcoin at its fair value, this accounting rule removes a major psychological barrier.

“People want to own Bitcoins. Companies too,” summarizes Horsley, highlighting the 95,000 BTC bought at the beginning of 2024. A dynamic that transcends borders, as demonstrated by Metaplanet in Japan, aiming for 10,000 BTC by December.

Institutional Adoption of Bitcoin: A Quiet Revolution

Beneath these figures lie bold strategies. Take GameStop: the gaming giant has not only integrated Bitcoin into its reserves but also adopted Strategy’s “debt against Bitcoin” approach.

A risky bet? More like a cold calculation: financing $1.3 billion worth of purchases using debt, while capitalizing on the expected appreciation of BTC.

This innovative approach reveals a major evolution. Bitcoin is no longer an alternative asset but a growth lever. Companies use it to protect themselves but also to differentiate. Metaplanet, for example, bets on BTC to attract investors seeking exposure to crypto while strengthening its balance sheet.

Yet, the most fascinating is yet to come. Hunter, CEO of Bitwise, predicts 2025 as the pivotal year for mass adoption. Why? Because every institutional purchase creates a network effect.

The more companies accumulate Bitcoin, the more they legitimize its status as a store of value, thus attracting new players. A virtuous circle where scarcity (max 21 million) amplifies the race.

The accumulation of 700,000 BTC by companies is not just a financial phenomenon. It is a strong signal sent to markets: Bitcoin is rooted in the real economy. Between accounting innovations, debt strategies, and international competition, the foundations of a mature ecosystem are taking shape.

One question remains: how much will this accelerated adoption hasten the scarcity of supply? With only 21 million BTC to mine, each institutional acquisition brings the world closer to an unprecedented balance.

One thing is certain: Bitcoin is no longer at the fringe. It is becoming the beating heart of a new financial era.

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.

Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.