Corporate adoption of crypto in treasury administration is rising quickly. In the primary half of 2025, the tally of public corporations holding BTC almost doubled, in response to a report from K33 Research.
K33 revealed that between December 2024 and June 2025, the variety of listed companies with Bitcoin (BTC) on their stability sheets climbed from 70 to 134, amassing a complete of 244,991 BTC.
The pattern is drawing comparisons to earlier waves of company gold adoption. “There are clear parallels, significantly round offering a way for traders to entry an underlying asset which they might have beforehand struggled to entry,” Mike Foy, chief monetary officer at AMINA Bank, advised Cointelegraph.
Foy mentioned the motion’s sustainability hinges on market specifics and regulatory environments. “Time will inform if this turns into a sustainable pattern, however it’s clear that technique has a primary mover benefit,” he famous, including that corporations in jurisdictions with restricted entry to institutional crypto merchandise stand to learn probably the most.
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Crypto treasuries: lifeline or final resort?
Notably, the crypto treasury pattern can also be fueling skepticism that struggling companies could also be utilizing digital property as a reputational lifeline. Foy acknowledged that the temptation exists for companies below strain.
Last month, biotech agency Windtree Therapeutics disclosed a $60 million buy settlement with Build and Build Corp. to start its BNB treasury plan, adopted by a $500 million fairness line of credit score and a $20 million stock-purchase pact to increase its holdings.
The firm briefly loved a lift in mid-July when it introduced the BNB treasury technique, however shares have since fallen greater than 90% from their peak.
On Tuesday, Nasdaq introduced the biotech agency can be delisted for failing to take care of the $1.00 minimal bid worth required below Listing Rule 5550(a)(2).
Foy steered inspecting their habits to identify companies utilizing crypto treasury for short-term optics. He suggested checking administration’s danger experience, leverage ranges, deal with core enterprise and insider share gross sales.
“If any of those appear unusual or out of the bizarre, then that is presumably an indication that this isn’t a long run plan however moderately a brief time period share worth play,” he mentioned.
Related: Altcoin treasury race: VERB TON acquisition firm publicizes $780M in property
Firms take a look at Ether, altcoins in treasuries
While Bitcoin stays the dominant selection for treasuries, companies are starting to experiment with Ether (ETH) and chosen altcoins. The distinction, in response to Foy, lies within the potential for staking rewards and new collaboration alternatives with blockchain foundations.
Last month, Ray Youssef, CEO of NoOnes, mentioned Ethereum’s hybrid enchantment is drawing treasury managers. “Ethereum begins to seem like a hybrid between tech fairness and digital forex. This appeals to treasury strategists wanting past passive storage,” he mentioned.
Youssef mentioned ETH’s staking yield, programmability and compliance-friendly roadmap have made the cryptocurrency interesting to “forward-looking corporations, particularly these already concerned within the digital financial system.”
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