River Financial, a Bitcoin-focused financial institution, has predicted that 10% of US companies will convert a total of $10.35 billion into the largest cryptocurrency over the next 18 months.
“We estimate that business bitcoin holdings will grow at a rate of between 204 and 519 BTC per day until the year 2026, equivalent to a range of $12.2 million and $31.1 million per day at a $60,000 bitcoin price,” the company wrote in a recent report.
All businesses combined now hold a total of 700,000 BTC with a growth rate of 150,000 BTC per year.
Businesses now account for 3.3% of Bitcoin’s total circulating supply.
Notably, American companies account for almost half of total holdings.
According to data provided by CoinGlass, Virginia-based business intelligence firm MicroStrategy is in first place by total holdings with $12.82 billion.
Bitcoin mining giant Marathon Digital comes in a very distant second place with $1.41 billion worth of Bitcoin.
Tesla is also in the top 3 with $550 million. However, the company’s holdings have shrunk significantly since its original Bitcoin fortune which was acquired back in early 2021.
As reported by U.Today, MicroStrategy CEO Michael Saylor previously predicted that 2024 would be the year of institutional Bitcoin adoption.
As noted by River, Bitcoin’s adoption as a treasury asset is yet to become mainstream. Still, it experienced significant growth in 2024 due to major firms offering Bitcoin products.
Earlier this year, the market experienced renewed optimism due to the introduction of Bitcoin ETFs. Despite their stunning success, businesses overwhelmingly choose to hold real Bitcoin.