Bitcoin’s Institutional Rush Hits Full Throttle: Why Wall Street Can’t Get Enough in 2025
Wall Street's Bitcoin obsession just went into overdrive. Major institutions are piling into digital gold at a pace that's rewriting the playbook for traditional finance.
The Floodgates Open
Asset managers, hedge funds, and even conservative pension funds are allocating unprecedented capital to Bitcoin. They're not just dipping toes—they're diving headfirst into the crypto pool, driven by fear of missing out on the defining asset of the digital age.
Infrastructure Goes Mainstream
Custody solutions that once made institutions nervous now rival Fort Knox. Regulatory clarity—while still a moving target—has given enough comfort for trillion-dollar balance sheets to take the plunge. The plumbing's finally built for big money.
The Performance Play
With traditional assets looking increasingly shaky, Bitcoin's non-correlation and scarcity narrative hit differently. Institutions aren't just hedging—they're aggressively positioning for what many see as the greatest wealth transfer of our lifetimes.
Just don't expect them to admit they're chasing the same rocket retail investors rode years ago. Suddenly everyone's a long-term believer—especially with 20% annual returns on the line.
In brief
- The top 100 publicly traded companies now hold one million BTC, worth $108 billion.
- From convertible bonds to preferred shares, bitcoin accumulation strategies are becoming more refined as bitcoin establishes itself as an obvious choice for corporate treasurers.
Bitcoin, the Treasury of the Future
The top 100 publicly traded companies now hold 990,695 BTC, worth $108 billion. At this pace, it is hard to see why bitcoin would not reach one million dollars by 2035.
Here are the top 5 main purchases from last week:
- Strategy: 3,081 BTC (USA);
- Metaplanet: 1,009 BTC (Japan);
- Boyaa Interactive: 290 BTC (Hong Kong);
- Convano: 155 BTC (Japan);
- Smarterwebuk: 45 BTC (England);
The purchases of the top 5 alone are greater than the natural bitcoin supply of 3,150 bitcoins per week!
That’s not all. There are also non-public companies. This is the case for Tether, Block, SpaceX and dozens of others. Add nations and we reach 3.68 million bitcoins worth over $400 billion belonging to more than 310 entities.
We are witnessing a true institutional rush on bitcoin since the launch of ETFs, just over a year ago. Barely a day passes without a new company jumping in.
Moreover, strategies have evolved far beyond simple one-time allocations, as was the case with Tesla. We are seeing the emergence of clever capital structures enabling companies to increase their Bitcoin exposure.
From convertible bonds to preferred shares, methods are being refined as bitcoin establishes itself as an obvious choice for treasury managers. What initially was just a media stunt has turned into a sophisticated financial architecture game.
Strategy paved the way by creating a multitude of financial products which enabled it to accumulate over 600,000 bitcoins. Other companies are following. Firms like XXI, Metaplanet, and the French Capital B and semiconductor manufacturer Sequans are adopting the same strategy:
What is the “BTC Strategy”?
How exactly do the boldest companies finance their bitcoin acquisitions? It is going increasingly far beyond simple treasury allocation. Here is an overview of the main methods used:
- Issuance of common shares
Companies like Strategy, Empery Digital, Semler Scientific and Semantix issue new shares to raise funds quickly. For example, Strategy has raised several billions this way since 2020. This method however dilutes existing shareholders and can weigh on the stock price if poorly calibrated.
- Issuance of convertible and preferred bonds
Strategy, Riot Platforms and Iris Energy also issue convertible bonds, a hybrid between debt and equity. These loans, convertible into shares later, limit immediate dilution while supporting Bitcoin accumulation.
Strategy has extensively used this lever to structure its initial treasury. Some of its preferred shares offer a fixed 10% annual dividend, without voting rights.
BTCUSDT chart by TradingView- Use of treasury cash
Companies like Sequans or Volcon draw from their excess liquidity. Simple but limited, this choice avoids dilution and debt but misses out on a small leverage effect and faster accumulation.
Finally, recall that TRUMP Media & Technology Group raised about $2.5 billion to invest in Bitcoin by selling $1.5 billion of common shares and $1 billion of convertible bonds to about fifty institutional investors.
The funds were used to create a Bitcoin treasury. The company revealed in July that it had acquired approximately $2.5 billion of bitcoin and other securities. The exact amount allocated to bitcoin was not explicitly detailed.
This rush is probably not unrelated to Donald Trump’s promise to make the United States the “the global superpower of bitcoin”.
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