🏢 Corporate Bitcoin Treasuries Double in 2025 — Sustainable Trend or Short-Term Hype?

[tradelikepro]

Corporate adoption of crypto is accelerating fast. According to K33 Research, the number of public companies holding Bitcoin nearly doubled in just six months.

The Numbers

December 2024: 70 listed firms held BTC.

June 2025: 134 firms.

Total holdings: 244,991 BTC (~$27.3B at today’s prices).

This wave is being compared to corporate adoption of gold in earlier decades — a way to let investors indirectly access an asset they otherwise might not.

First-Mover Advantage (and Risks)

Mike Foy, CFO at Amina Bank, notes:

“Time will tell if this becomes a sustainable trend, but it is clear that strategy has a first mover advantage.”

Key point: Firms in jurisdictions with limited access to institutional crypto products stand to benefit most.

Lifeline or Last Resort?

Not everyone is convinced this is all strategy — some companies may be using crypto treasuries as a reputational boost.

Example:

Windtree Therapeutics (biotech firm) announced a $60M BNB treasury plan in July 2025.

Stock pumped briefly, then collapsed 90%+ from peak.

By August, Nasdaq moved to delist the company for failing to meet the $1 minimum bid price.

Foy’s red flags for “optics plays”:

Weak management risk expertise.

High leverage.

Lack of focus on core business.

Insider share dumps.

If you see those, the treasury move might be short-term optics, not long-term conviction.

Beyond Bitcoin: ETH & Altcoins Enter the Game

Ethereum (ETH) is attracting treasury strategists thanks to:

Staking rewards (yield).

Programmability (partnerships + integrations).

Compliance-friendly roadmap.

Ray Youssef (NoOnes CEO):

“Ethereum looks like a hybrid between tech equity and digital currency. That appeals to treasury strategists looking beyond passive storage.”

Some firms are experimenting with select altcoins, often tied to partnerships with blockchain foundations.

The Big Picture

Bitcoin remains the king of corporate treasuries, but ETH is gaining ground.

The challenge: telling apart genuine long-term treasury strategies vs. short-term “share price rescue” plays.

If this trend holds, corporate crypto treasuries could become the new normal, just like gold once did.

What’s your take?

Is this corporate Bitcoin wave the start of a sustainable treasury revolution?

Or will we see more “Windtree-style” collapses from firms using crypto as a quick PR bandage?