It’s only May, and public corporations have already bought 3.3 times more Bitcoin than has been supplied in 2025, according to a new graphic from asset manager Bitwise. To put that into perspective, the new supply for the year is around 60,000 BTC, and companies have already surpassed 196,000 BTC in purchases.
A year ago, there were only a few companies, notably Strategy and Metaplanet, holding Bitcoin on their balance sheets. Now there are over 70 companies with a public Bitcoin treasury strategy, and according to Strategy CEO Phong Le, “Next year we could be at 700 companies.”
That kind of growth isn’t random—it’s a clear signal that corporate strategy is evolving fast. Companies aren’t just testing the waters anymore; they’re diving in. This isn’t some short-term trend—this is a major shift in how businesses are thinking about money, reserves, and long-term value protection.
Just yesterday, Founder and CEO of Nakamoto David Bailey announced a merger with KindlyMD to establish a Bitcoin treasury. In an interview with CNBC, David said, “We are MicroStrategy squared, but what we’re trying to build is a global portfolio of Bitcoin treasury companies and capital market access and we want to have one vehicle that investors can buy in every major capital market.”
During last week’s Bitcoin For Corporations event at Strategy World 2025 in Orlando, Florida, Michael Saylor, Executive Chairman of Strategy, said Bitcoin treasury companies are becoming “exponentially more powerful,” and he’s not just hyping it. He predicts 30–60% growth annually for the next decade, with a long-term forecast of 29–30% ARR. That’s not normal corporate growth—that’s exponential compounding with conviction.
Saylor pointed out how even political pushback is helping Bitcoin. “Every single time a politician blocks something or reacts negatively, they are driving it forward,” Saylor said. “You can’t pay for the marketing we just got in Arizona. That is going to catalyze millions and millions of people to say, ‘What is this thing? Was that the right decision? Should we reevaluate this?’ Everything is good for Bitcoin.”
And he’s not wrong. Whether it’s state-level bans or media panic, all it does is make people curious. That curiosity leads to research, which leads to understanding—and for a lot of companies and investors, that ends with buying Bitcoin.
Le Phong also highlighted how recent U.S. government actions are actually bullish:
“What is happening in the U.S. Government—the embracement of the Strategic Bitcoin Reserve, digital asset framework, stablecoin bills—we have an administration that is very supportive of Bitcoin and makes everybody wake up and say ‘what is this Bitcoin thing?’”
