A new report from ‘MicroStrategist|BitcoinPower.Law’ uncovers an accelerating global trend: corporations are aggressively accumulating Bitcoin for their treasuries. While MicroStrategy holds a significant lead, smaller, agile firms are rapidly increasing their Bitcoin holdings, signaling a dynamic shift in the corporate crypto landscape.
MicroStrategy remains the undisputed leader in corporate Bitcoin holdings, boasting a massive 582,000 BTC tokens. This translates to an impressive 2.771% of Bitcoin’s total supply, dwarfing the second-largest holder, Marathon Digital Holdings, which possesses 49,179 BTC (0.234% of total supply).
However, MicroStrategy’s substantial lead comes with heightened expectations. The report suggests that the company’s ability to further expand its Bitcoin reserves hinges on continued access to bond funding.
Bitcoin is currently trading above its long-term power law trendline, indicating strong upward momentum. Based on the power law model, projected median Bitcoin prices are:
In the past year, Bitcoin’s price has surged by over 61.3%, and in the last 30 days, it has climbed 3.4% to reach $107,036. Despite a pause in the global M2 money supply, the report highlights that Bitcoin typically lags liquidity by 12 weeks, suggesting potential for further growth in the coming months.
The report emphasizes that smaller companies are exhibiting the fastest Bitcoin accumulation per share, often seeing their share prices rise in tandem with their increasing “stacking speed.”
Here’s a look at some notable smaller players:
The analysis warns that companies with high market Net Asset Value (mNAV) and high days to close (DTC) may be overhyped. A slowdown in Bitcoin stacking by these firms could lead to sharp declines in their share prices.
The report advises investors to look for companies that balance rapid Bitcoin accumulation with sustainable growth. Key tools for guiding investment decisions include mNAV, DTC, and fair value charts. Crucially, investors are cautioned to avoid companies at their price peaks during hype cycles.
MicroStrategy is the leading corporate holder, possessing a massive 582,000 BTC, which is 2.771% of Bitcoin’s total supply.
Regulatory clarity can boost confidence and attract more institutional investment, potentially increasing corporate Bitcoin accumulation. Conversely, strict or uncertain regulations can create hurdles, increase compliance costs, and slow down adoption.
Public companies are adding Bitcoin to treasuries for various reasons, including hedging against inflation and currency debasement, diversifying reserves, seeking higher returns than traditional assets, and attracting tech-savvy investors.
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