Bitwise CIO Matt Hougan has some pretty bold predictions about Bitcoin’s role in corporate treasuries. During a June 10 interview on CNBC, he referred to the movement of public companies adding Bitcoin (BTC) to their treasury reserves as a “megatrend.” And, according to Hougan, this megatrend is just in its early stages. As of March 31, 79 public companies already hold about $57 billion worth of Bitcoin. I believe that number is only going to keep growing, as more companies jump on the bandwagon.
Historically, corporations have typically stored their surplus cash in low-risk, low-yield investments like short-term Treasuries or bank deposits. But Hougan argues that with the massive deficits and endless money printing happening today, finance chiefs are now searching for an alternative way to store value. And that alternative? Bitcoin. As Hougan points out, companies are seeking a new method of protecting their wealth from the degradation of traditional assets. And, according to him, Bitcoin is “the best horse in that race.”
Equity markets are rewarding companies that disclose their Bitcoin purchases, making Bitcoin even more appealing as a potential balance-sheet asset. For companies holding Bitcoin, there’s also the added benefit of gaining recognition and positive market reactions when they announce new BTC allocations.
The Road to 1M BTC - Corporate FOMO and the Future
Bitcoin’s growing appeal in the corporate world is undeniable. As Bitcoin continues to prove itself as “digital gold,” the number of public companies investing in BTC is skyrocketing. Binance Research’s June “Monthly Market Insights” report confirmed that by May 31, 116 public companies controlled a total of approximately 809,100 BTC. That’s a massive increase from just 312,200 BTC a year ago. And this trend is accelerating, with more than 25 companies revealing new Bitcoin allocations since early April.
Currently, the average monthly Bitcoin purchases by these companies have exceeded 40,000 BTC, boosted by recent entrants like Trump Media, Nakamoto, GameStop, and PSG. Despite some fluctuations, the strategy remains the largest holder, making up nearly 72% of the total Bitcoin held by corporations.
With Bitcoin’s price hitting a fresh all-time high near $112,000, Hougan points out that this has triggered “corporate FOMO” (fear of missing out), further fueling demand for Bitcoin. Companies are not just seeking upside potential but also aiming to protect themselves from inflation and currency devaluation.
Moreover, the report highlighted the growing regulatory clarity in the U.S. and the upcoming 2025 accounting changes, which will allow Bitcoin holdings to be treated at fair value. This will remove the impairment charges that have previously discouraged some treasurers from holding Bitcoin, paving the way for even more corporate adoption.
Hougan projects that if companies continue buying Bitcoin at the current rate, corporate treasuries could exceed 1 million BTC by 2026. Binance Research agrees with this target, framing it as attainable under stable macro conditions and continued regulatory progress.
Bitwise’s CIO also predicts that, as concerns over dollar debasement grow, more cash-rich multinationals will diversify their holdings into Bitcoin this year. If this trend continues, Bitcoin could eventually move from being a niche practice to a mainstream treasury management strategy.
Kristian Koch
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