According to data provided by Bitwise, corporations now own a whopping 688,000 Bitcoins.
This represents a 16.11% quarter-over-quarter increase compared to Q4.
The total holdings of corporations now represent 3.28% of Bitcoin's total supply, which is capped at 21 million coins.
The value of their Bitcoin holdings stood at $57 billion at the end of the first quarter.
It is worth noting that 12 additional public companies purchased Bitcoin in the first quarter of the year.
Strategy, of course, remains the top holder by a large margin, outstripping other major companies by a significant margin. As reported by U.Today, the Virginia-based business intelligence firm announced another massive purchase of $285 million in BTC on Monday. The most recent Bitcoin buy brings the company's total Bitcoin holdings to more than 531,000 BTC.
Tomiwabold OlajideAs reported by U.Today, Bitwise CEO Hunter earlier predicted that 2025 might end up being the year of corporate Bitcoin adoption.
American gaming retailer GameStop adopted Bitcoin as its treasury reserve asset in late March. The company has also adopted Strategy's debt-for-Bitcoin playbook in order to fund its first Bitcoin purchase that it is expected to be close to $1.3 billion.
In the first quarter of this year, Japanese pubic company Metaplanet also announced an ambitious plan to purchase 10,000 BTC by the end of the year.
The adoption of the FASB rule, which makes it possible for companies to hold the cryptocurrency at fair value, will likely be a boon for corporate Bitcoin adoption.
"People want to own Bitcoin. Corporations do too. 95,000 BTC purchased in Q1," Horsley said on social media.
Vladislav Sopov
Dan Burgin