Corporates are rushing to stock up on bitcoin

Bitcoin’s 50% surge to a record $111,965 last week, from a low of nearly $75,000 in April, has triggered a wave of companies raising billions to build their corporate crypto treasuries.

GameStop announced on Wednesday that it has purchased 4,710 bitcoins worth over $500 million.

Firms like Trump-linked American Bitcoin and politician Vivek Ramaswamy’s Strive have also begun planning their strategies to fund purchases of the cryptocurrency.

Truth Social owner Trump Media & Technology Group recently revealed it plans to raise $2.5 billion to buy bitcoin. Ramaswamy’s Strive aims to secure $1.5 billion in funding for the crypto.

A large number of businesses are buying bitcoin
According to BitcoinTreasuries.net, the number of publicly listed companies holding bitcoin jumped to 113 from 89 in April. These firms hold a combined 800,000 bitcoin worth around $88 billion.

These corporations are basing their model on Strategy (previously MicroStrategy), which currently holds 580,000 bitcoins, worth approximately $62 billion, and is the largest corporate holder of the token.

Co-founded by billionaire Michael Saylor, the company’s bitcoin reserve skyrocketed its valuation to over $101 billion. However, analysts warn that the hype may not be sustainable due to the volatility of the crypto market. Concurrently, Strategy trades at a little over 1.5 times the value of its token holdings.

However, the Trump administration’s pro-crypto stance has investors excited. Speaking to the crowd at the Bitcoin Conference 2025 in Las Vegas yesterday, Vice President JD Vance stated their intention to limit crypto regulation and pass laws enabling stablecoin trading.