Bitcoin’s Corporate Bid Is Strong But Still Depends on MicroStrategy

Bitcoin Treasuries Report, October 2025

Bitcoin’s bull market has been powered by two steady sources of demand: institutional money flowing into the newly launched Bitcoin ETFs, and public companies adding Bitcoin to their balance sheets.

These two channels of capital are critical. If either one falters, Bitcoin would lose a major tailwind that has supported prices throughout this cycle.

In today’s issue, we’ll look at why these two sources of demand are strategic, whether public companies are maintaining their accumulation pace, and where the key risk currently lies.

Let’s dig into the data.

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Bitcoin’s Corporate Bid Is Strong But Still Depends on MicroStrategy

The Takeaway

Corporate Bitcoin accumulation has become a powerful structural force alongside ETF inflows, providing a steady tailwind for the market.