karloproducer

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karloproducer
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MD / music producer some interests: cardiology/electrophysiology, AI, blockchain technology, music/art, economy/finance, science/tech... soundcloud.com/karloproducer
This is Rivers 2025 Business Bitcoin Adoption report (📄.pdf): 2025 YTD (Jan–Aug): businesses put $43.5B of bitcoin on balance sheets—$12.5B more than all of 2024; trendline suggests $66.9B for the year. River says businesses are now a primary bull-market driver. As of Aug 25, 2025, ownership split: Individuals 65.9% (13.83M BTC), ETFs/Funds 7.8% (1.63M), Businesses 6.2% (1.30M), Governments 1.5% (306k), Lost 7.6% (1.58M). Supply capped at 21M. Known business holdings jumped from 510k BTC (Jan ’24) → 1.30M BTC (Aug ’25). BTC mkt cap $815B → $2.24T; companies with BTC: Global public 39→158; S&P 500 1→4; Fortune 500 2→3. Bitcoin treasury companies drove the wave: 76% of business purchases since Jan ’24 and 60% of publicly reported business holdings; <100 of these firms (≥10 BTC) vs 3,000+ conventional business clients at River. In 2025 these treasury firms are buying ~1,400 BTC/day; investors hold >$100B of their stock. MicroStrategy (now Strategy) pioneered the model (Aug ’20) and its stash is valued >$70B; >50 similar firms now exist. Allocation behavior (River survey, Jul ’25): businesses allocate avg 22% (median 10%) of net income to BTC; 63.6% plan to hold/accumulate indefinitely; nearly 1/3 now hold >50% of treasury in BTC due to appreciation. Custody stance: 7.6% fully self-custody; 18.1% hybrid; 74.3% use third-party custodians—businesses value self-custody for counterparty-risk mitigation but most keep a mix. Why BTC (per report): fixed supply (inflation hedge), 24/7 liquidity for emergencies, self-custody (post-SVB), and in the U.S. it’s treated as a commodity, not a security. River estimates “Big Tech” lost purchasing power since 2020 holding cash-like assets; even 1% BTC would have offset. Barriers falling: 2024 GAAP update made accounting more accurate/friendly; Mar 2025 the U.S. Strategic Bitcoin Reserve launched; liquidity deepened via ETFs/futures; River says BTC volatility has declined toward (or below) gold; protocol uptime had no downtime in the past decade. Adoption pattern: skewed to small, concentrated-ownership, long-term firms; 75% of River’s business clients have <50 employees; adoption spans real estate, finance, software, healthcare, construction, nonprofits, and more. Biggest remaining blocker: perception/understanding. Cited stats: only 6% of Americans know the 21M cap; 46% of businesses cite “lack of understanding” as a barrier; 60% of Americans admit they “don’t know much” about BTC.