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Bitcoin could see a massive inflow of $10 billion from US companies within the next 18 months. River Financial's latest analysis predicts this surge will accelerate corporate adoption, with American firms leading the charge.
US Companies Expected to Add $10 Billion in Bitcoin
Ten percent of US corporations will transfer $10.35 billion to the biggest cryptocurrency in the next eighteen months, according to Bitcoin-focused financial organization River Financial.
"We estimate that business bitcoin holdings will grow at a rate of between 204 and 519 BTC per day until the year 2026, equivalent to a range of $12.2 million and $31.1 million per day at a $60,000 bitcoin price," a recent analysis from the company stated.
With an annual growth rate of 150,000 BTC, the combined holdings of all enterprises now equal 700,000 BTC.
American Companies Hold 3.3% of Bitcoin Supply
According to U.Today, 3.3% of the Bitcoin supply is presently held by enterprises. Almost half of all holdings are held by American companies.
Data supplied by CoinGlass indicates that MicroStrategy, a business analytics corporation based in Virginia, is #1 in terms of total holdings, with $12.82 billion. Second place goes to Bitcoin mining behemoth Marathon Digital, with $1.41 billion in Bitcoin.
Tesla Now Holds $550 Million in Bitcoin
Among the top three, at $550 million, is Tesla. The company's initial Bitcoin wealth was gained in early 2021, but since then, its holdings have diminished substantially.
The CEO of MicroStrategy, Michael Saylor, has previously forecasted that institutional Bitcoin adoption will occur in the year 2024.
River is right when he says that Bitcoin will not be widely used as a treasury asset just yet. However, in 2024, it saw a surge in growth as a result of large enterprises providing Bitcoin products.
Bitcoin ETFs Spark Corporate Market Confidence
The launch of Bitcoin exchange-traded funds earlier this year sparked fresh market confidence. The vast majority of companies still opt to have physical Bitcoin on hand, despite its meteoric rise to prominence.
