Corporate Treasury Bitcoin Buying Could Hit $330 Billion by 2029, Bernstein Predicts

Wall Street’s latest love affair with Bitcoin just got a price target—and it’s a doozy. Bernstein analysts project corporate treasuries could pour $330 billion into BTC within five years, as institutions finally wake up to crypto’s ’digital gold’ narrative (only a decade late).

Why the sudden corporate FOMO? Shrinking dollar purchasing power and yield-chasing in a low-rate world are pushing CFOs to hedge with hard-capped assets. Even risk-averse treasury teams now view 1-3% BTC allocations as ’prudent’—a hilarious pivot from 2022’s ’crypto winter’ panic.

The kicker? This forecast assumes just 5% of global corporate cash shifts to Bitcoin. If the SEC greenlights spot ETFs for treasuries (looking at you, BlackRock), that number could moon. Of course, banks will take their cut—Bernstein’s own crypto division stands ready to ’guide clients through volatility.’ How convenient.

One thing’s certain: when C-suites start betting shareholder money on Satoshi’s creation, the ’magic internet money’ jokes stop. Now if only they’d figured this out before the last halving.

• Strategy plans to acquire $124B in Bitcoin by 2029, leading corporate BTC adoption.
• Bernstein sees $205B from smaller firms adopting Bitcoin as a treasury reserve asset.
• Public companies now hold about 2.4% of the total BTC supply, roughly 720,000 BTC.

According to a new Bernstein report, corporate treasury purchases of Bitcoin could reach $330 billion by the end of 2029. The Wall Street investment firm highlighted Strategy (formerly MicroStrategy) as the leading buyer. Analysts estimate that Strategy alone will allocate around $124 billion toward Bitcoin acquisitions over the next five years.

Between April 28 and May 4, Strategy purchased 1,895 additional BTC, which amounted to $180.3 million. The firm currently owns 555,450 BTC worth over $52 billion. The firm revealed its plan to increase its BTC treasury roadmap to $84 billion, doubling its original $42 billion target.

The significant increase demonstrates the organization’s long-term objectives, which Executive Chairman Michael Saylor pursued by using equity, debt, and corporate cash flows for BTC acquisitions starting in 2020.

Bernstein analysts said Strategy’s model may be complex to replicate but inspires other businesses. The analysts also note that firms with over $100 million in cash and limited growth prospects will likely follow suit. These companies could collectively invest $190 billion in BTC while smaller firms may contribute another $11 billion by 2026.

Regulatory Shifts Accelerate Corporate Bitcoin Adoption

The U.S. government’s shifting regulatory approaches create essential conditions for increasing corporate bitcoin ownership. Bernstein highlighted how the SEC changed its Staff Accounting Bulletin 121 this year, enabling banks to keep crypto assets in their possession. The new regulatory position will likely drive more institutions to participate in the market.

Further support comes from political developments. President Donald Trump has proposed a national Strategic Bitcoin Reserve using BTC from criminal seizures. Lawmakers have also suggested that the U.S. government boost its bitcoin ownership to reach 5% of the total supply. These activities demonstrate to corporate entities that Bitcoin is achieving formal backing from federal government institutions.

Other governments, like the UK, are also stepping into crypto regulation. The British Treasury recently released draft digital asset rules and indicated interest in aligning with U.S. policy to support crypto industry development. This trend may contribute to global corporate confidence in Bitcoin.

BTC trades at approximately $94,000 at press time, having declined more than 1% in the last 24 hours. However, its price has increased by 50% over the past year.

Smaller Firms Begin to Emulate Bitcoin Standard Strategy

Several companies have already started copying Strategy’s approach. Recent purchases include Semler Scientific, which invested $16.2 million in acquiring 167 BTC, and Japan-based Metaplanet, which shifted focus to bitcoin accumulation.

The increasing number of organizations seeking BTC for their balance sheets reflects growing interest from firms with substantial cash reserves and limited growth paths.

Bernstein analysts have pointed out significant returns for Strategy after its shares increased from $15 in 2020 to $378, yet not all companies will achieve the same impressive outcomes. The firm maintains an exclusive financial structure and experience managing fixed-income portfolios linked to BTC, which challenges replication.

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