Original author: Luke
Original source: MarsBit
In the spring of 2025, a revolution is quietly brewing in the global financial market. Bitcoin, a cryptocurrency once ridiculed as a geek fantasy, is now at the strategic core of corporate boardrooms. From financial giants on Wall Street to technology pioneers in Silicon Valley, from rising investment stars in Tokyo to football clubs in the UK, listed companies and institutions are adding Bitcoin to their balance sheets at an alarming rate. This is not a speculative frenzy, but a well-thought-out bet on value storage, brand reshaping, and future finance.
1. United States: Bitcoin’s “Wall Street Moment”
As a beacon of global finance and technology, the United States is a pioneer in corporate Bitcoin investment. From April to May 2025, listed companies embraced Bitcoin at an astonishing scale and speed, with both vigilance against inflation and a desire for brand innovation.
1. MicroStrategy: The Flag Bearer of Digital Gold
MicroStrategy, a business intelligence software company founded in 1989, is no longer a traditional technology company. Driven by its founder Michael Saylor, it has transformed into the worlds largest Bitcoin investment company. In April 2025, MicroStrategys move was epic: the company purchased 25,370 bitcoins in three batches, spending a total of approximately $2.2616 billion (April 7-13: 3,459, $285.8 million; April 14-20: 6,556, $555.8 million; April 21-27: 15,355, $1.42 billion). As of the end of April, its holdings reached 553,555, costing approximately $37.9 billion. What is even more shocking is that the company added 301,335 bitcoins through a record $21 billion common stock ATM (At-The-Market) issuance, which is equivalent to reshaping the companys asset map.
Saylors logic is simple and radical: the dollar has been depreciating for a long time, cash reserves are melting like ice and snow, and the fixed supply of Bitcoin (21 million) makes it cyber gold. He not only bet the fate of the company on this, but also became a Bitcoin evangelist through social media, attracting global attention. But what is less known is that MicroStrategys success is due to an invisible promoter: In 2023, the US Financial Accounting Standards Board allowed companies to measure Bitcoin at fair value, greatly reducing accounting complexity. This policy dividend is like opening Pandoras box, allowing more companies to dare to follow.
2. Twenty One Capital: The Super Alliance of Finance and Cryptocurrency
Twenty One Capital (“21 Capital” for short) is the “superstar” of Bitcoin investment in 2025. The new company plans to go public through a SPAC merger with Cantor Equity Partners and is jointly created by four giants:
Cantor Fitzgerald, a Wall Street investment bank founded in 1945 with annual revenue exceeding $2 billion, has partnered with Tether to manage its Treasury assets.
SoftBank, a Japanese technology investment giant, manages over $200 billion in assets and has a portfolio that includes Alibaba and Uber.
Tether, the issuer of the world’s largest stablecoin USDT, will have a profit of approximately $13 billion in 2024.
Bitfinex, a leading crypto exchange with a daily trading volume of over $1 billion.
On April 23, 2025, 21 Capital announced that it raised $360 million through a SPAC merger, initially holding 42,000 bitcoins (about $3.9 billion). Funding sources include $1.5 billion from Tether (later revised to $160 million), $900 million from SoftBank, $600 million from Bitfinex, and $585 million in debt and equity financing. The project is led by Cantor Fitzgerald Chairman Brandon Lutnick, and Strike founder Jack Mallers serves as CEO. 21 Capital launched the Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR) indicators, with the goal of maximizing shareholders Bitcoin exposure.
The birth of 21 Capital is a historic handshake between traditional finance and the crypto industry. Cantor Fitzgeralds endorsement has brought Bitcoin into the core of Wall Street; SoftBanks participation marks Masayoshi Sons strong comeback from his failed Bitcoin investment in 2017 to 2025; Tether and Bitfinexs financial strength injects rocket fuel into the project. This is not only an investment, but also a declaration about the future of finance. However, Tethers regulatory controversy (the 2021 US settlement case) may cast a shadow on the project, and the complexity of its SPAC listing also adds uncertainty.
3. Semler Scientific: A hidden pioneer in the medical industry
Semler Scientific, a California medical technology company focused on chronic disease management equipment, has a market value of only $300 million, seemingly far from the cyber world of Bitcoin. However, in April 2025, this small giant showed great courage. On April 15, the company planned to issue $500 million in securities, making it clear that the funds would be used mainly to purchase Bitcoin. Then, from April 25 to 29, it increased its holdings by 165 bitcoins, spending about $15.7 million, and its total holdings reached 3,467, worth about $326 million.
Why is Semler betting on Bitcoin? Chief Financial Officer Doug Murphy-Chitolan once revealed at the shareholders meeting that Bitcoins decentralized and inflation-resistant properties coincide with the companys pursuit of long-term value. The deeper drive comes from shareholders: some of Semlers investors are hedge funds in the cryptocurrency field, and they hope to increase returns through Bitcoin. Semlers low-key execution - neither publicity nor stock price shocks - shows an emerging pattern: small and medium-sized listed companies are quietly integrating Bitcoin into their strategies, rather than just chasing market crazes.
4. GameStop: From meme stock to Bitcoin pioneer
The story of GameStop is a Hollywood script. The game retailer, founded in 1984, became famous for the 2021 meme stock craze (driven by the retail community). On March 27, 2025, GameStop announced the issuance of $1.3 billion in zero-interest convertible bonds (expiring in 2030), with an option of $200 million for additional issuance, raising a total of approximately $1.48 billion, with funds directed to the purchase of Bitcoin. This move shocked the market, and the retail community regarded it as the beginning of GameStop 2.0.
Led by CEO Ryan Cohen, GameStop is breaking out of its retail predicament. Bitcoin is not only an asset hedging tool, but also a brand reshaping tool aimed at attracting young, tech-friendly consumers. The company also plans to launch crypto-related services such as an NFT market or a Bitcoin payment system. However, the huge investment of $1.5 billion has also sparked controversy: Bitcoins volatility may make financial statements a roller coaster. Supporters see this as a victory for meme culture, while critics worry that the company will repeat the mistakes of aggressive expansion. In any case, GameStops transformation is destined to be the focus of 2025.
5. Tesla: The silent giant holding money
Tesla, the worlds electric car leader with a market value of over $1 trillion, is led by Elon Musk. Every step it takes in the field of cryptocurrency affects the market. In April 2025, Tesla disclosed that it held 11,509 bitcoins, valued at approximately $951 million, the same as the previous quarter. Since purchasing bitcoin in 2021, Tesla briefly accepted bitcoin payments (later suspended due to environmental disputes), but never sold its holdings.
Teslas low profile is intriguing. As an opinion leader of cryptocurrency, Musk has repeatedly expressed his support for Bitcoin, calling it a decentralized financial experiment. But as a new energy giant, Tesla must balance environmental pressure with the returns of crypto investments. The energy controversy surrounding Bitcoin mining has made the company act cautiously, but its persistence shows confidence in long-term value. Teslas silence, like the calm before the storm, suggests that a larger strategy may be brewing.
6. SBC Medical Group: A small but beautiful experimental field
SBC Medical Group, a small medical company focusing on beauty and health services, will not be listed on the Nasdaq until 2024, with a market value of less than $100 million. On April 14, 2025, it purchased 5 bitcoins for $400,000, calling the move a strategy of diversifying assets and maintaining value. Despite its small size, this move reflects the spread of Bitcoin investment: even marginal players are beginning to test the waters of digital gold.
SBCs motivation may come from the executives crypto beliefs or shareholders push. Although its attempt is inconspicuous, it is like a seed, indicating that Bitcoin may take root in more small and medium-sized enterprises. This trickle-down effect may have more long-term significance than the gambles of the giants.
2. Japan: Asia’s Bitcoin Experimental Field
With its open encryption policy and technological genes, Japan has become a fertile ground for Bitcoin investment in Asia. In April 2025, the actions of two companies ignited market enthusiasm.
1. Metaplanet: Japan’s “cyber warrior”
Metaplanet, a Tokyo-listed company founded in 2004, has businesses covering hotels, real estate, and technology investments. In 2024, it announced a Bitcoin First strategy and was hailed as Asias MicroStrategy. In April 2025, Metaplanet increased its holdings of Bitcoin to 4,525 (about $384 million), a more than 10-fold increase from 400 in September 2024. The company aims to hold 10,000 Bitcoins by the end of 2025 and rename its hotels Bitcoin Hotels in an attempt to attract the global crypto community.
Metaplanet CEO Simon Geraci calls Bitcoin a nuclear weapon to counter the depreciation of the yen (which fell to a 34-year low in 2024) and global economic uncertainty. Japans 2024 tax reform (exempting companies from taxes on unrealized gains on crypto assets) paves the way for this strategy. Even more striking is Metaplanets attempt to combine Bitcoin with the real economy - the Bitcoin Hotel is not just a marketing gimmick, but also plans to accept Bitcoin payments. This brand innovation may inspire more Asian companies to follow suit.
2. SoftBank (via 21 Capital): A global Bitcoin bet
SoftBank, a giant in Japanese technology investment, invested $900 million in the 21 Capital project, accounting for 25% of the total investment. Founder Masayoshi Son is known for his bold investments, from Alibaba to WeWork, his vision is always aimed at the future. In 2017, he lost $130 million in his personal investment in Bitcoin, which became a joke. But SoftBank in 2025 is more sophisticated, and has joined forces with Cantor Fitzgerald and Tether to diversify risks. SoftBank not only provides funds, but also promotes the institutional adoption of Bitcoin through its global investment network. Its participation shows that Asian technology giants are considering Bitcoin as a new language of global capital through cross-border cooperation.
3. Other regions: Bitcoin’s global ripples
Although the United States and Japan are the main battlefields, actions in other regions are equally eye-catching.
Real Bedford FC (UK): Sports’ Bitcoin Experiment
Real Bedford FC, a non-professional football club in the UK, announced on April 30, 2025 that it would use Bitcoin as its main reserve asset, with an estimated holding of 50-100 coins (about $4.7-9.4 million). Club chairman Peter McCormack, a well-known crypto podcast host, promoted this strategy. He believes that Bitcoin can break the geographical limitations of sports and attract fans around the world. The club explores the Bitcoin + brand model through innovations such as Bitcoin sponsorship and ticket payments. Despite its small scale, this experiment may provide a template for small and medium-sized enterprises.
4. Decoding motivations: Why are big companies betting on Bitcoin?
The motivations of large companies to buy Bitcoin are intertwined with rationality and foresight:
1. Inflation hedging: The depreciation of fiat currencies such as the US dollar and the Japanese yen (the US CPI will reach 3.5% in 2024, and the Japanese yen will fall to 160:1) makes the fixed supply of Bitcoin a safe-haven asset.
2. Asset diversification: The low interest rate environment (the US 10-year Treasury bond yield is 2.5% in 2024) makes cash reserves unattractive, and Bitcoin provides a high-risk, high-return option.
3. Brand innovation: GameStop and Metaplanet use Bitcoin to attract young consumers and reshape their brands.
4. Policy dividends: The new US FASB regulations, Japan’s tax reforms, and Trump’s pro-crypto policies have lowered investment barriers.
5. Shareholder pressure: The influence of crypto hedge funds and high net worth investors pushes companies like Semler and SBC to take action.
5. Potential buying: a carnival for digital gold?
1. Disclosed Buying
Total size of planned Bitcoin purchases from April to May 2025:
MicroStrategy: $2.2616 billion (25,370 coins) + $21 billion (301,335 coins) = $23.2616 billion (326,705 coins).
GameStop: $1.48 billion (approximately 15,745 units).
Semler Scientific: $500 million (planned) + $15.7 million (165 pieces) = $515.7 million (approximately 5,485 pieces).
SBC Medical: $400,000 (5 coins). 21 Capital: $3.6 billion (42,000 coins).
Metaplanet: approximately 5,475 new tokens (approximately $515 million).
Total: approximately $29,372.3 million (approximately 395,435 coins, accounting for 1.88% of the total supply).
2. Potential buying prediction
Undisclosed public companies: MicroStrategys success could inspire 100-200 public companies (market cap of over $1 billion) to invest $100-500 million each, for a total of $10-50 billion (approximately 106,380-531,900 tokens).
Institutional ETFs: BlackRock iShares Bitcoin Trust (IBIT) attracts institutional funds. If more foundations join, the additional buying volume will be US$5-10 billion (approximately 53,190-106,380 coins).
National reserves: If the United States converts 1% of its foreign exchange reserves (about $60 billion) into Bitcoin, it would be equivalent to 638,300 Bitcoins. Potential policies in China, Russia, and other countries could contribute $20-30 billion.
· Crypto industry: Companies such as Tether may increase their holdings by $2-3 billion (approximately 21,280-31,920 coins).
Short-term forecast (Q2-Q3 2025): Disclosed buying ($29.3723 billion) + undisclosed companies ($5 billion) + ETF inflows ($2 billion) = approximately $36.3723 billion (approximately 387,025 coins, accounting for 1.84% of the total supply).
Medium-term forecast (Q4 2025-Q1 2026): If the national reserve policy is implemented, the purchase volume may reach 80-120 billion US dollars (about 850,000-1,275,000 pieces, accounting for 4.05%-6.07% of the total supply).
Price impact: The circulating supply of Bitcoin is approximately 19.7 million. An increase of 1% in demand could push up the price by 15%-30%, and the price could reach $115,000-130,000 by the end of 2025.
6. Epilogue: Revolution or fanaticism?
In 2025, Bitcoin has moved from cyber utopia to corporate reality. MicroStrategys gamble, GameStops transformation, Semlers low-key attempt, 21 Capitals multinational alliance, and Metaplanets brand innovation have jointly drawn a digital gold revolution. This is a fight against inflation and legal currency, and a strategic bet on the future. However, undercurrents are surging in the storm: the roller coaster of prices, the shadow of regulation, and the frenzy of the market may cause this revolution to deviate from its course.
For us, this is a window into the future. Will Bitcoin become a cyber safe for enterprises, or another tulip mania? The answer may be hidden in the next financial report, the next board meeting, or the next market wave. Regardless of the outcome, this revolution has rewritten the rules of finance.
