The Number of Companies Adding Bitcoin (BTC) to Their Balance Sheets Is Likely to Grow in 2025

Jake Ostrovskis, an OTC trader at market-making firm Wintermute, said there's increasing interest from corporations and institutions in gaining exposure to Bitcoin

OTCC market maker Wintermute’s trader Jake Ostrovskis has stated that more companies are likely to add Bitcoin (BTC) to their balance sheets in 2025. Ostrovskis highlighted increasing interest from corporations and institutions in gaining exposure to Bitcoin, with even small and medium-sized enterprises (SMES) expected to join the trend.

MicroStrategy, a prominent example of corporate bitcoin adoption, has purchased $10B (AU$16B) worth of Bitcoin and plans to acquire another $42B (AU$67.5B) using equity financing.

On the other hand, Bitcoin mining companies like Marathon Digital (MARA) and Riot Platforms (RIOT) have followed suit, issuing convertible notes to fund additional Bitcoin purchases. These strategies, which are often referred to as the “MicroStrategy playbook”, aim to strengthen company balance sheets and increase stock value by leveraging bitcoin investments.

Ostrovskis also noted that this trend complements the growing impact of Bitcoin exchange-traded funds (ETFs), which are enabling pension and sovereign wealth funds to enter the market. However, he stated that corporates, with their more flexible capital, may act more quickly than institutional investors that are tied to traditional funds.

Traditional hedge funds, which were previously awaiting ETFs for crypto access, are also entering the market. These firms are now applying equity trading strategies to cryptocurrencies, reflecting a shift in their investment approaches. Ostrovskis predicts that similar strategies could soon extend to ETH.

However, not everyone is convinced that Bitcoin is the only way to strengthen a company's balance sheet. Microsoft recently rejected Saylor's pitch in which he attempted to convince the firm's board to allocate a portion of the treasury into BTC.

According to CNA, MicroStrategy and Japan-based Metaplanet have added to their Bitcoin holdings in their latest purchases, further cementing their strategies of long-term BTC acquisition.

MicroStrategy, led by Michael Saylor, disclosed the purchase of 5,262 BTC at a cost of $561M (AU$902M), averaging $106,662 (AU$171,555) per coin. This brings the company's total holdings to 444,262 BTC, acquired at an average price of $62,257 (AU$100,134) per coin, for a total of $27.7B (AU$43B).

Meanwhile, Metaplanet, which is often called the “MicroStrategy of the East”, purchased an additional 619.7 BTC for approximately ¥9.5B (AU$96M). This acquisition brings its total holdings to 1,761.98 BTC for ¥20B (AU$20M), averaging ¥11,846,002 (AU$120,637) per coin.