Companies have added over 100,000 Bitcoins to their reserves this month. According to Bitwise European research lead, André Dragosch, who shared the data on X, this shows the accumulation frenzy among corporate institutions is in full swing.
With the massive increase, the amount of Bitcoin held by corporate entities as reserve assets has now reached 746,302 BTC. The over 100,000 BTC increase this month alone is more than the whole quarterly gains between Q4 2024 and Q1 2025.
Bitcoin treasuries for corporations increased by 100,000 BTC in one month. Source: André Dragosch
Dragosch said:
“Global corporate adoption of Bitcoin is accelerating fast. We’re up around +100k BTC since last month already.”
Overall, companies bought more than 96,000 BTC in April, while around 13,600 BTC was issued as mining rewards, all contributing to the over 100,000 BTC. The impact of the increase is even more pronounced given that total corporate Bitcoin holdings at the end of Q1 2024 were only 279,639.
This means that the size of corporate Bitcoin portfolios has increased by more than three times in just about a year.
More companies adopt Bitcoin treasuries
Interestingly, Strategy (formerly MicroStrategy) was not the biggest contributor to the increase over the last month. The firm only added 25,370 BTC in April, which is around 26% of the total increase.
The biggest contributor is the newly formed Bitcoin holding company Twenty One Capital, which is launching with 42,000 BTC in its treasury. The company, backed by Tether, Bitfinex, Cantor Fitzgerald, and SoftBank, could soon be competing with Strategy for Bitcoin acquisition.
Dragosch, citing data from Bitcoin Treasuries, noted that the number of new companies adding BTC to their treasuries for the first time also increased significantly. Fifteen new companies have added BTC to their treasuries in April, more than the nine companies in March and even fewer in the first two months of 2025.
Some of the other companies that entered the Bitcoin treasuries game include Brazil’s largest bank, Itau, which is launching its own Bitcoin holding venture called Oranje and will start by buying $210 million worth of BTC. SmarterWebUK also bought 2.30 BTC as part of its treasury plans, while real estate investment firm, Cardone Capital is also buying BTC for its Real Estate/BTC REIT.
Still, it is not just companies holding Bitcoin. Other institutions, such as exchange-traded funds (ETFs), investment funds, exchanges, custodians, and even governments, are also venturing into the space.
According to Bitcoin Treasuries, 187 entities now hold over 3.22 million Bitcoins, which account for 15.36% of the 21 million BTC supply. BlackRock’s IBIT ETF and Strategy alone account for over 1 million of this BTC.
Meanwhile, the Arizona Republican-led legislature recently passed a bill that will allow the state treasurer to invest up to 10% of its public funds into Bitcoin. The bill, which is the first Bitcoin reserve to pass the legislative process in the US, is now heading to the governor’s desk for assent.
However, it is uncertain whether Governor Katie Hobbs, a Democrat, will assent, as she has a history of vetoing bills from the legislature.
Bitcoin treasuries could send BTC to new highs
Meanwhile, the massive demand for BTC from institutions has played a great role in pushing its price up 7.40% in the past week. The flagship asset has now maintained its value around $95,000, with market analysts noting that it could soon return to $100,000.
However, BlockStream CEO Adam Back believes that Bitcoin treasuries could drive BTC to reach a market cap of between $100 trillion and $200 trillion. He noted that these treasury companies, such as Strategy, are arbitraging the difference between BTC’s future price and its current value. Bitcoin current market cap is below $2 trillion
Back said:
“$MSTR and other treasury companies are an arbitrage of the dislocation between the bitcoin future and today’s fiat world. A sustainable and scalable $100-$200 trillion trade front-running hyperbitcoinization.”
Back, one of the earliest Bitcoin adopters, added that the Bitcoin treasury strategy is logical and sustainable arbitrage as long as Bitcoin continues to outperform inflation.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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