Corporations and businesses are the largest net buyers of bitcoin so far this year, surpassing ETFs and retail investors, according to new research from bitcoin investment firm River. Companies like Strategy Michaela Saylora have purchased more bitcoin this year than any other category of investors, with a total increase in corporate holdings of 157,000 bitcoins, worth approximately $16 billion at current prices. Strategy accounts for 77% of the group’s growth, River reported on X on May 12, adding that it is not just about large companies.
The next largest category after corporations was ETFs, which increased their net bitcoin by 49,000 bitcoins, or worth $5 billion, River reported. Following are governments with an increase of about 19,000 bitcoins, while retail investors or individuals recorded a decrease of 247,000 in bitcoin holdings this year, according to the report.
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Overall, there has been a 154% increase in corporate ownership since 2024, the company stated, breaking things down by business categories for its clients.
The report revealed that financial and investment firms are the largest buyers of the asset, accounting for 35.7% of the total amount, followed by technology companies at 16.8%, professional and consulting firms at 16.5%, and the remainder being real estate, non-profit firms, consumer and industrial, healthcare, energy, agricultural, and transportation companies.
Recently, several large corporate purchases took place, with Strategy accumulating a significant 13,390 bitcoins for $1.34 billion, and Metaplanet adding an additional 1,241 bitcoins to its treasury, surpassing that of El Salvador on May 12.
New entrants to the bitcoin market in 2025 include the video streaming platform Rumble, which made its first purchase in March, the Hong Kong construction company Ming Shing, and the Hong Kong investment firm HK Asia Holdings Limited.
At least twelve public companies purchased bitcoin for the first time in the first quarter of 2025, Bitwise reported in April. The firm added that the amount of bitcoin on the books of publicly traded companies increased by 16% during that period, with over 95,000 bitcoins added to corporate portfolios during that time.
Is bitcoin becoming deflationary?
These large corporate asset purchases will put pressure on supply and demand as the supply is limited, and miners can produce only 450 pieces daily, analysts say.
CEO of CryptoQuanta and market analyst Ki Young Ju stated that Strategy is accumulating bitcoin at a faster rate than the total production of miners, giving the asset a –2.3% annual deflation rate.
Meanwhile, author Adam Livingston recently stated that Strategy is synthetically halving bitcoin by outpacing the supply of miners through high demand.
