Bitcoin (BTC) has become an institutional favorite asset, with several companies announcing strategic moves to integrate the cryptocurrency into their financial frameworks.
This trend highlights a broader shift in corporate finance. Firms across diverse sectors are recognizing Bitcoin’s potential as a reserve asset and a hedge against economic uncertainties.
Bitcoin Gains Traction as a Treasury Asset
BeInCrypto reported earlier that several firms across the US, the Middle East, and Latin America have adopted Bitcoin as a treasury asset, aiming to replicate Strategy’s (formerly MicroStrategy) success. Now, more companies are joining this trend.
On May 28, GameStop acquired 4,710 Bitcoin, overtaking Semler Scientific as the 13th largest public holder of Bitcoin. This move follows a March 2025 board decision to adopt Bitcoin as a reserve asset.
On the same day, US-based PublicSquare, a marketplace and payments ecosystem, announced plans to explore a digital asset treasury strategy. According to the announcement, the firm intends to invest in Bitcoin, stablecoins, and other digital assets to diversify its reserves while enhancing capital efficiency.
PublicSquare’s Chairman and CEO, Michael Seifert, highlighted the company’s commitment to liberty as a driving force behind its support for decentralized finance (DeFi). He also envisions non-traditional payment methods and digital assets gaining significant market share in the coming years.
Therefore, Seifert emphasized that PublicSquare is positioning itself to capitalize on this growth.
“By exploring a digital asset treasury strategy, we intentionally position our Company and our Fintech segment for that future. We are actively exploring the integration of stablecoins into our Payments & Marketplace ecosystem, which we view as the most effective cryptocurrency strategy to transform payment systems, enhance customer engagement in our network, protect privacy and security, and boost our fintech product offerings,” Seifert said.
Previously, on May 12, healthcare provider KindlyMD entered into a merger agreement with Nakamoto Holdings to establish a Bitcoin Treasury. This merger positions the combined entity as a leading public company focused on accumulating Bitcoin and growing Bitcoin holdings on a per-share basis.
On May 27, KindlyMD made its inaugural purchase of 21 Bitcoin worth $2.3 million. The average purchase price was $109,027.
“KindlyMD chose 21 BTC, which is one millionth of the total supply of bitcoin, as a symbolic first step on our journey to be the leading Bitcoin treasury strategy,” David Bailey, Founder and CEO of Nakamoto, stated.
Meanwhile, some firms are betting more on the largest cryptocurrency. BeInCrypto highlighted that Trump Media and Technology Group plans to pour about $2.5 billion into building a large-scale Bitcoin treasury.
Strive Asset Management has also secured $750 million through a private investment in public equity (PIPE) deal. If warrants are exercised, this amount could potentially increase to $1.5 billion. The firm plans to use the funds to buy Bitcoin.
“Most Bitcoin treasury companies are valued based on multiples to their Bitcoin holdings, which makes sense because their strategies are tied to leveraged beta to Bitcoin. By contrast, our alpha-generating Bitcoin accumulation strategies are designed to drive sustained outperformance relative to Bitcoin itself, which requires a new valuation framework,” Matt Cole, CEO of Strive, remarked.
Across the border, Canadian-listed Captor Capital Corp. has acquired $500,000 worth of Bitcoin as a treasury asset. The acquisition, announced on May 27, was paired with the issuance of $450,000 in unsecured convertible loan notes to a European institutional investor.
“The proceeds from the Notes will bolster Captor’s general working capital and fuel its dynamic investment strategies, enabling the Company to drive sustainable growth across its diversified portfolio,” the press release read.
While the number of new adopters continues to grow, early supporters are not falling behind. Today, Japan-based Metaplanet announced the issuance of $50 million in zero-interest ordinary bonds to finance additional Bitcoin purchases. Strategy also added 4,020 Bitcoin, worth $427 million, to its stack last week.
Notably, Bitwise projects that the inflow of institutional funds into Bitcoin will keep growing. Their latest estimates suggest that institutions can invest nearly $120 billion by the end of 2025.
This can further increase to about $300 billion in 2026. Public companies alone are expected to contribute over $100 billion by 2026.
“Publicly traded companies adopting Bitcoin as a treasury asset have emerged as a long-term source of buying pressure for Bitcoin, boosting its performance relative to other digital assets. We expect that over 1,000,000 BTC will be accumulated under this new accumulation paradigm by the end of 2026,” Bitwise predicted.
This highlights Bitcoin’s resilience as a trusted hedge. It also reflects a meaningful shift in how companies adapt their financial strategies to the realities of the digital age.
