Corporate Bitcoin Treasuries: Why Fortune 500s Are Hoarding Digital Gold
Once a fringe experiment, corporate Bitcoin treasuries have gone mainstream—with everyone from Tesla to MicroStrategy betting big on crypto as a reserve asset. Here’s the playbook.
The New Corporate Piggy Bank
Forget bonds and T-bills. Forward-thinking CFOs now stash Bitcoin alongside cash reserves—hedging against inflation while dangling a volatility thrill for shareholders. (Cue the earnings call theatrics.)
Why It Works—Until It Doesn’t
Tax advantages? Check. Balance sheet buzz? Double-check. But when BTC tanks 30% in a week, those boardroom PowerPoints suddenly look like casino receipts. Ask the 2022 cohort.
The Cynic’s Take
Nothing spices up stagnant growth like a speculative asset class that turns accountants into degen traders. Just don’t mention the ‘M’ word (manipulation) during audit season.
What are corporate treasuries, anyway?
A corporate treasury refers to a company’s financial assets, including cash, stocks, and investments. To preserve capital and maintain liquidity, a company traditionally places surplus cash in instruments such as government bonds or money market accounts, which are seen as low-risk. However, an increasing number of companies are now turning to bitcoin as an alternative asset.
“Any assets held are usually held to be counter-cyclical to the rest of the economy,” James Davis, co-founder of crypto futures market platform Crypto Valley Exchange, previously told Decrypt. “Strategic reserves are meant to counteract economic cycles,” he said. “What matters isn’t just price appreciation, but how the asset performs during downturns.”
This article will examine how companies are shifting focus to Bitcoin and integrating it into their treasury strategies to hedge against inflation, preserve value, and enhance financial resilience.
Why hold Bitcoin as a corporate treasury asset?
The number of companies holding Bitcoin continues to grow. Strategy (formerly MicroStrategy) gained a first-mover advantage by aggressively accumulating BTC under the direction of its chairman, Bitcoin bull Michael Saylor, starting in 2020. The trend gained momentum when Saylor offered to share his Bitcoin playbook with Tesla later that year, with the EV manufacturer subsequently purchasing $1.5 billion worth of BTC in February 2021.
Companies such as streaming platform Rumble and video game retailer GameStop had joined the trend. As of May 2025, both have added—or are in the process of adding—Bitcoin to their corporate treasuries, marking another step in the cryptocurrency’s mainstream adoption.
Game theory could explain this momentum, suggesting that as more companies adopt Bitcoin, others may feel pressure to follow suit—not necessarily out of conviction, but to stay competitive in public perception.
Companies that create Bitcoin treasuries often cite the cryptocurrency’s decentralized nature and fixed supply as a hedge against inflation, currency debasement, and the declining yield of traditional cash holdings.
“For most companies getting into Bitcoin, it’s hard to see these moves as more than a brand play,” Dr. Matthew Stephenson, Head of Research at venture capital firm Pantera Capital, previously told Decrypt. “The most strategic move, beyond just wanting Bitcoin people to think they’re cool, is addressing investors who keep asking, ‘What are you doing with new tech? What are you doing with crypto?’ Holding Bitcoin satisfies them.”
BREAKING: 🚨 70+ public companies collectivelly hold 591,726 #Bitcoin ($56.2B+) as treasury reserves 🤯
The corporate #BTC tsunami is here.. and it’s just getting started... 📈 pic.twitter.com/72YHByLOrc
— Swan (@Swan) December 27, 2024
Which firms hold Bitcoin as a treasury asset?
The trend is gaining traction. As of May 2025, publicly traded companies holding Bitcoin in their treasuries include:
How do companies hold Bitcoin in their treasuries?
Holding Bitcoin is more complex than simply transferring BTC to a crypto wallet. Companies typically use custodial services—specialized firms that store and secure digital assets. Coinbase Custody, BitGo, and Fidelity Digital Assets offer institutional-grade security, including cold storage, multi-signature wallets, and insurance.
However, holding Bitcoin does not guarantee safety from market uncertainty and risk.
“Crypto’s volatility makes it highly unpredictable compared to traditional assets,” Crypto Valley Exchange’s James Davis said. “It is also pro-cyclical, meaning its value tends to drop when the market requires liquidity the most, making it a risky reserve asset.”
The future of corporate Bitcoin treasuries
With inflation concerns lingering and digital assets gaining credibility, more companies are turning to Bitcoin as a strategic part of their treasury management.
Biotech firm Atai Life Sciences announced plans to adopt a Bitcoin treasury in March 2025. Just two months later, Strive Asset Management—co-founded by Vivek Ramaswamy—announced plans to accumulate Bitcoin.
Firms including Japanese investment company Metaplanet and medical device manufacturer Semler Scientific continue to add to their holdings, while in May 2025, the Financial Times reported plans by TRUMP Media to raise $3 billion to purchase Bitcoin and other digital assets.
While Strategy’s push to accumulate Bitcoin as a long-term store of value has influenced other firms, many—including crypto companies—remain hesitant due to the asset’s volatility. In May 2025, Coinbase CEO Brian Armstrong revealed that the company once considered allocating 80% of its balance sheet to Bitcoin but ultimately backed off, fearing the MOVE could “kill the company.”
Despite some companies’ risk aversion, Bernstein analysts argued in a May 2025 research note that corporate treasuries will add $330 billion in Bitcoin by 2029.
