A new report by business-facing Bitcoin firm, River, has shown that businesses are allocating 22% of their profits to BTC. The report created by Sam Baker and Vincent Lee attributes this to Bitcoin’s resilience compared to other assets.
According to the report, businesses have turned to Bitcoin because they see it as a way to retain the value of their earnings despite inflation. The data is based on a July 2025 survey of businesses using River’s services, with the firm noting that the median allocation is 10%.
It noted that businesses currently face challenges in allocating their income because traditional approaches of giving dividends or reinvesting in growth are risky due to the current economic environment and could further weaken the balance sheet.
In order to address this issue, businesses have focused on strengthening their financial position, and Bitcoin allows them to do that.
The report stated:
“The most effective way to build financial resilience is by holding assets that preserve long-term value. In this context, bitcoin has emerged as a preferred way to retain earnings.”
Interestingly, the appreciation of Bitcoin over time has meant that most of these businesses now have Bitcoin as the majority of their treasury assets. Most of these businesses will likely allocate more to BTC, with 63.69% of respondents seeing BTC as a long-term investment with no plans to sell in the foreseeable future.
Businesses have bought over $43 billion worth of BTC in 2025
Meanwhile, the report noted that businesses have been the major driving force behind the current Bitcoin bull run. The value of BTC entering companies’ balance sheets within the first eight months of 2025 has reached $43.5 billion.
This exceeded 2024 when businesses recorded a total inflow of $31 billion worth of Bitcoin by $12.5 billion. The 2024 inflow was a record high, beating the amount from the earlier three years combined. Yet, businesses are on track to finish the year with $66.98 billion.
With businesses increasing their allocation, they now control 6.2% of the Bitcoin supply with 1.3 million BTC. This is still lower than the 65.9% held by individuals but already exceeds the amount left to be mined, which is 1.09 million BTC.
Treasury companies dominate BTC adoption
The surge of businesses’ adoption of BTC owes a lot to Bitcoin treasury companies. According to the research, they are responsible for 76% of all BTC purchases since January 2024 and 60% of publicly reported Bitcoin holdings by businesses.
Unsurprisingly, they are the second largest purchaser of BTC in 2025 with over 330,000 BTC added this year, translating into an average of 1,400 BTC per day. Only funds and ETFs are buying more with 338,000 BTC. Factors such as the complexity of direct BTC exposure, restrictions on buying BTC directly, and investors’ appetite for leveraged BTC exposure have allowed treasury companies to thrive.
However, it is not just Bitcoin treasury companies that are driving the adoption of BTC among businesses. The report noted that conventional businesses are also incorporating BTC into their existing business models. River stated that BTC treasury companies account for just ¼ of the public companies with BTC holdings.
Interestingly, the firm claimed that Bitcoin treasury companies of meaningful size, i.e., those holding more than 10 BTC, are fewer than 100, while adding that it serves more than 3,000 business clients in the US. These conventional businesses have also added 84,000 BTC in 2025.
Most conventional businesses buying BTC have certain attributes in common, with the majority of them being small businesses that have less than 50 employees. They also have other traits in common, including concentrated ownership that makes decision-making faster, and most of them are focused on BTC’s long-term potential.
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