Companies are more interested in Bitcoin than ever, driven by Bitcoin’s soaring price and its potential to serve as a hedge against macroeconomic uncertainty. André Dragosch, new Head of Research for Bitwise in Europe, believes that corporate treasury adoption of Bitcoin will accelerate massively this year. He thinks this trend is likely to carry over into 2026, too. Bitcoin provides thrilling prospects for incredible returns. Despite its promise, given its volatility and potential risks to financial stability, it is fraught with concern.

Geopolitical tensions, high inflation rates and fiscal deficits in the U.S. and globally render Bitcoin more attractive by the day. These factors combine to produce an atmosphere in which Bitcoin thrives as a more appealing solution. Historically, Bitcoin has demonstrated exceptionally high returns compared to traditional asset classes like stocks and gold, making it an attractive option for companies seeking to diversify their portfolios and enhance their financial performance. Yet the fundamental volatility of Bitcoin makes one wonder whether Bitcoin belongs in corporate treasuries at all.

This post looks at why companies have a growing interest in adopting Bitcoin, including the benefits they see and risks they’ve yet to understand. It focuses largely on industry experts’ perspectives. This analysis aims to illustrate what’s behind this trend and provide some clarity on how companies can apply strategies to bring Bitcoin into their financial strategy successfully.

Bitcoin's Rising Prominence in Corporate Finance

The ascendance of Bitcoin as a corporate treasury asset is a remarkable tale, particularly as firms like MicroStrategy have led the way. MicroStrategy is widely known for their massive accumulation of Bitcoin with 600,000 Bitcoins under their belt equating to roughly 3% of the total supply. This $170 million investment speaks volumes about their level of confidence in the long-term growth, value and potential of Bitcoin.

MicroStrategy, as many people know, is famous for its Bitcoin adoption. In the meantime, other companies are doing more than just kicking tires — they’re adopting Bitcoin into their treasury strategies. The idea of Bitcoin as a store of value is the second key driver in this increasing trend. Some argue bitcoin is quickly becoming a hedge against inflation and economic instability. Increasingly, companies large and small are beginning to put a small percentage of their assets into Bitcoin. This trend will further increase Bitcoin’s growing place in the corporate treasury ecosystem.

It’s notable that the preponderance of Bitcoin is in the hands of a few large entities, which provides a strong argument in favor of systemic risk. Juan Pellicer, Vice President of Research at Sentora, notes the potential dangers associated with this concentration:

More than 10% of all Bitcoin is now held in ETF custodial wallets and corporate treasuries; a sizable share of the total supply. This concentration introduces a systemic risk: if any of these centrally managed wallets are compromised or mishandled, the fallout could ripple through the entire market. - Juan Pellicer, Vice President of Research at Sentora

Navigating Bitcoin's Volatility and Risk

Bitcoin’s volatility is perhaps its most well-known features, and deserves serious scrutiny. Bitcoin is no different — it offers enormous upside. Its rapid price swings are extreme, volatile, and speculative, making it unsuitable for a corporate treasury whose paramount concern is risk avoidance and capital preservation.

Ryan Rasmussen, Head of Research at Bitwise, points out that Bitcoin's volatility is not unique in the current market:

One particularly interesting data point is the volatility of Bitcoin compared to leading tech stocks, such as Tesla and Nvidia. Many investors say, 'I would never invest in something as volatile as Bitcoin'. At the same time, most investors own Tesla and Nvidia (either directly or through index funds like the S&P 500 and Nasdaq-100). In recent months, Tesla and Nvidia have both been more volatile than Bitcoin. - Ryan Rasmussen, Head of Research at Bitwise

Bitcoin’s volatility is a real concern. Dragosch argues that, properly managed, Bitcoin is not a risk to financial stability. He cautions against the risks of overleverage—something every company should consider, particularly smaller companies that are newly jumping into Bitcoin investments. Only with proper risk management and strategic allocation can we begin to mitigate some of the potential downsides.

They key element that often breaks any type of business strategy is overleverage… potential risks rather lie with other corporations that are copying MSTR’s Bitcoin acquisition strategy and start with a higher cost basis. - André Dragosch, Head of Research for Bitwise in Europe

The Future of Bitcoin in Corporate Treasuries

The more the cryptocurrency market develops, Bitcoin’s role in corporate treasuries will eventually evolve as well. Better, clearer regulatory frameworks will help support this evolution. Rasmussen sees two main categories of Bitcoin treasury companies, indicating a longer-term trend of accumulation of Bitcoin by companies and entities. Third, he expects that Bitcoin will come to overshadow traditional safe havens such as US Treasury bills and gold.

As Dragosch sees it, increasing risk of sovereign debt around the world will make Bitcoin even more relevant. He sees Bitcoin as one of the most important tools we have in combating those economic crises. This provides a highly attractive alternative to traditional assets.

The Wilshire 5000 equity index literally includes 5000 publicly listed companies in the US alone. It is quite likely that we are going to see a significant acceleration in the corporate treasury adoption of Bitcoins this year and in 2026 as well. - André Dragosch, Head of Research for Bitwise in Europe

Rasmussen cautions against unsustainable financial practices, particularly regarding Bitcoin financing companies:

Bitcoin financing companies only exist because public markets are willing to pay more than $1 for $1 of Bitcoin exposure. This is unsustainable long-term unless these companies can increase their Bitcoin per share. Issuing equity to buy Bitcoin does not increase Bitcoin per share. The only way to increase Bitcoin per share is to issue convertible debt or preferred stock. - Ryan Rasmussen, Head of Research at Bitwise