Summary
- A new research report reveals business Bitcoin adoption is up by 30% in 1 year.
- Estimations show an optimistic trajectory for businesses’ BTC holdings by 2026.
A new research report by River reveals a highly underreported trend happening in the Bitcoin market.
Their new report shows Bitcoin business adoption has grown significantly in the past year while revealing optimistic projections for BTC companies’ holdings for the next years.
Bitcoin Ownership Distribution as of August 2024
River, a company for securely purchasing Bitcoin estimates that businesses will keep buying at least hundreds of BTC on a daily basis over the next years.
The report highlights that everyone’s looking at Michael Saylor and MicroStrategy without realizing that thousands of businesses are now buying Bitcoin on a daily basis.
According to their official data, Bitcoin ownership distribution as of August 2024 is as follows:
- Governments hold around 517,000 BTC (2.5% of 21 million BTC)
- Funds and ETFs hold 1.09 million BTC (5.2%)
- Businesses hold around 683,000 BTC (3.3%)
- Around 81-130 million individuals hold 11.97 million BTC (57%)
- Satoshi holds 968,000 BTC (4.6%)
- The estimated lost BTC is around 3.7 million coins (17.6%)
- 1.25 million BTC still have to be mined (6%)
Business Bitcoin Adoption up by 30% in 1 Year
According to the same notes, businesses now hold over 3.3% of Bitcoin’s supply.
683,332 as of August 18, 2024, representing an increase of 587% since 2020, and a surge of 30% in the past 12 months.
According to River, companies buy Bitcoin directly, not ETFs, in order to avoid being classified as investment companies.
Bitcoin Percentage of Treasury Holdings
River asked their business clients about their Bitcoin holdings. The data revealed is the following:
- The percentage of their treasury varies
- Over 70% have never sold any Bitcoin
- Over 95% are planning to buy more in 2025
36.5% of respondents have over 50% Bitcoin allocation, while 28.8% have less than 10%.
Bitcoin Accumulation Forecast by 2026
According to their report, the current level of Bitcoin business holdings in 2024 is around 683,000 coins.
Regarding the 2026 estimations, River notes the following data:
- The upper bound of business BTC holdings will be around 943,000 coins at a buying rate of 519 BTC per day
- The middle bound of business BTC holdings will be around 861,000 coins with a buying rate of 356 coins per day
- The lower bound of business BTC holdings will sit around 786,000 coins with a buying rate of 204 BTC per day
River’s official report also reveals important insights regarding Bitcoin’s role as a treasury asset, how businesses are using BTC for payments, and more.
Business Bitcoin adoption has been expanding rapidly, as also revealed via an interesting piece about how Bitcoin fixes corporate balance sheets written by Lyn Alden – “A New Look at Corporate Treasury Strategy.”
