Bitcoin Holdings By Public Firms Cross 1 Million BTC As Asset Gains Traction

According to the latest data from BitcoinTreasuries, the total amount of Bitcoin (BTC) held by public firms recently surpassed the one million mark, underscoring the rapid pace of adoption of the digital asset ￰0￱ Adoption Shows No Signs Of Slowing While corporate adoption of Bitcoin is not a novel practice, the trend gained significant momentum following US President Donald Trump’s victory in the November 2024 ￰1￱ then, several firms have unveiled BTC corporate treasury ￰2￱ Saylor-led Strategy – formerly MicroStrategy – continues to be the undisputed leader of the trend, having some 636,000 BTC on its balance sheet at the time of writing. However, other companies like Metaplanet, Semler Scientific, and MARA Holdings have been busy increasing their BTC exposure over the past ten ￰3￱ on the development, BitcoinTreasuries President Pete Rizzo said that despite the total amount of BTC crossing one million, multiple indicators still show that institutional adoption of the digital asset is still in its ￰4￱ referred to the fact that most companies have only recently started to accumulate BTC for the long ￰5￱ a result, a major chunk of the capital raised by such firms remains yet to be deployed for BTC ￰6￱ Duke, Head of Europe at Bitwise, commented on the milestone saying that the total value of BTC locked in corporate treasuries is now worth more than $111 ￰7￱ added: The structural imbalance between BTC supply and demand is real and getting more ￰8￱ from BitcoinTreasuries shows that currently, more than 100 companies hold BTC on their balance sheets.

However, if recent developments are to go by, the corporate adoption of digital assets does not seem to be limited to BTC. Recently, a number of companies have announced plans to adopt Ethereum (ETH) as part of their corporate treasury ￰9￱ ETH does not have a hard supply cap of 21 million like BTC, it does offer multiple use-cases and the Proof-of-Stake (PoS) consensus mechanism which helps in reducing the active circulating supply of ￰10￱ Companies Pivot To ETH? At present, BTC commands a total market cap of over $2 trillion, compared to Ethereum’s $518 billion market ￰11￱ there’s still a difference of almost $1.5 trillion, ETH is quickly closing in the ￰12￱ instance, asset manager VanEck CEO, Jan van Eck, recently called ETH the “Wall Street token,” saying that Ethereum’s role in facilitating stablecoin transactions will likely help it give strong competition to ￰13￱ exchange-traded funds (ETF) data also supports the quiet institutional rotation from BTC to ETH, as ETH ETFs saw almost $4 billion in inflows during August ￰14￱ press time, BTC trades at $109,403, down 2.2% in the past 24 hours.