In 2025, Bitcoin once again reached a record high, breaking through the $110,000 mark. Some people say that this wave of market is due to the slowdown in inflation and the rekindled expectation of interest rate cuts; others believe that the continued inflow of ETFs is the core driving force of the market. Jason, an analyst at StarEx Exchange, believes that a "crypto-treasury revolution" led by companies is quietly setting off a deeper structural change, and listed companies are incorporating Bitcoin and even other crypto assets into their balance sheets at an unprecedented rate. Grayscale's research report released in early June pointed out that spot Bitcoin ETP is the "most important new source of demand" since the birth of Bitcoin, and the core of the next wave of buying may come from these "crypto-treasury companies."
According to Grayscale data, in May 2025, spot Bitcoin ETPs achieved a net inflow of $5.2 billion. Looking ahead to the next few months, this figure may be surpassed by "crypto treasury companies." Publicly listed companies include Bitcoin or other crypto assets in their balance sheets as strategic reserve assets. This trend is spreading around the world at an "exponential" rate. From MicroStrategy to MARA, from Galaxy Digital to Tesla, from Coinbase to Japan's Metaplanet, from Bitcoin to Ethereum, Solana, BNB and even TRX, more and more companies are starting to "buy and hoard coins."
Jason, an analyst at StarEx Exchange, believes that Bitcoin reserves are no longer just a game for technology pioneers, but have become one of the core of the new round of asset allocation logic in the capital market. In the past, Bitcoin was the first choice for companies to hold encrypted assets. But now, multiple assets such as Ethereum, Solana, BNB, Sui, and TAO are gradually entering the company's treasury. This is not only a "diversified digital currency reserve" for companies, but also a bridgehead for Web3 and the new financial market.
Jason, an analyst at StarEx Exchange, believes that the reasons why companies are collectively entering the crypto asset market are as follows:
1. Hedge against inflation and currency depreciation
As global central banks continue to maintain high debt and high deficits, it has become a consensus that the purchasing power of legal tender will weaken over the long term. Bitcoin has the natural advantages of constant supply, decentralization, and anti-inflation. In particular, after the Bitcoin "halving" in 2024, the annual inflation rate will drop to 0.85%, which is much lower than the inflation rate of legal tender in various countries, making it a natural "store of value" asset.
2. Regulations are gradually becoming clearer, and risk boundaries are becoming clearer
The US CFTC considers Bitcoin as a commodity, and the SEC classifies it as an intangible asset. Many countries around the world have also established legal and compliance frameworks (such as MiCA, Japan, Australia, and New Zealand regulations) to open policy green lights for companies to hold cryptocurrencies. Companies can manage Bitcoin as a long-term reserve asset under accounting standards and enjoy capital gains from asset appreciation.
3. Win-win situation in terms of financial and market value benefits
Corporate holdings of Bitcoin are not only a "hedging tool", but also a plus for market value and brand. Take Tesla as an example. After it purchased $1.5 billion worth of Bitcoin in 2021, its stock price soared by more than 10% in a short period of time, attracting great market attention. Similarly, companies such as MicroStrategy have also obtained a significant premium on their stock prices by virtue of their Bitcoin assets. Coinbase CEO recently pointed out that they are providing encryption integration services to more than 200 banks and financial technology companies, which means that the traditional financial system is gradually being "linked".
4. Seize the dividends of emerging finance and Web3
From Solana staking income, to participating in verification nodes, to AI and DeFi ecosystem construction, companies holding crypto assets also represent their participation in the layout of the future financial order. This is not only a financial operation, but also a "positioning battle" in technology, strategy and industry.
Jason, an analyst at StarEx Exchange, believes that another driving force for Bitcoin comes from changes in monetary policy. Although Powell has not yet explicitly turned dovish, the market has fully anticipated a rate cut in the second half of 2025. President Trump has put pressure on at least 17 times, calling for an immediate rate cut to stimulate the economy and reduce government debt costs. Interest rate futures show that the probability of the Federal Reserve cutting interest rates in September and December has increased significantly. Once the interest rate cut cycle begins, the attractiveness of fiat currency returns will decline, and institutions will accelerate their search for a safe haven for "non-traditional assets", and Bitcoin is undoubtedly one of the best choices.
At the same time, the Fed’s interest rate cut may also trigger a new round of revaluation of risky assets, and cryptocurrencies, as highly elastic targets, will be the first to benefit.
From spot ETFs to corporate encrypted vaults, the Bitcoin bull market in 2025 is far more than a product of "asset rotation", but also a structural change under the resonance of monetary system, technological belief and strategic reserve. Although interest rate cuts have not yet arrived, the market is already pricing it; although Bitcoin is already at a high level, companies are still accelerating their entry.
Jason, an analyst at StarEx Exchange, believes that this is the starting point of a new order. In the future, we may see more companies not only owning Bitcoin, but also building their own blockchain nodes, participating in governance, establishing DAOs, and becoming the protagonists in the digital asset economy.
The bull market of Bitcoin is still extending, but the real revolution has just begun.
