Coinbase Institutional has released an optimistic projection for the cryptocurrency market in the latter half of 2025, suggesting that Bitcoin may reach new all-time highs. However, the report also raises concerns regarding potential systemic risks stemming from the rapid increase in corporate adoption of the digital currency.
The exchange’s recent monthly overview indicates a notable transformation in the corporate sector. Data from BitcoinTreasuries reveals that 130 publicly traded companies now hold a combined total of 820,542 BTC, valued at approximately $88 billion, a significant rise from just 89 companies in April.
Source: BitcoinTreasuriesNet
This surge in corporate Bitcoin holdings has largely been driven by new accounting regulations that will take effect in December 2024. Coinbase refers to this phenomenon as an “attack of the clones,” wherein numerous companies are replicating MicroStrategy’s earlier Bitcoin treasury approach through the use of leveraged funding strategies.
Corporate Bitcoin Treasury Accelerates Despite Risk Warnings
The anticipated regulatory changes for 2024-2025 have paved the way for increased corporate engagement in Bitcoin, with research firm Bernstein estimating that businesses could channel as much as $330 billion into the cryptocurrency by 2029.
Despite this bullish outlook, David Duong, the Global Head of Research at Coinbase, cautions that the introduction of publicly traded crypto vehicles (PTCVs) designed exclusively for Bitcoin accumulation could pose significant risks to the overall cryptocurrency ecosystem.
Duong elaborates that these risks may manifest as forced selling due to convertible bond maturities, along with discretionary selling pressures that could instigate broader market liquidations.
Leading this trend is Michael Saylor’s company, now rebranded from MicroStrategy, which has amassed 580,955 BTC worth approximately $61.4 billion and has been on an aggressive buying spree for nine consecutive weeks.
@Strategy snaps up $110M in Bitcoin, pushing its holdings to a record 582,000 BTC worth over $40B as prices near all-time highs.#Bitcoin #MSTR https://t.co/sIgdh1C8yP
— Finance Newso.com (@Finance Newso) June 9, 2025
Saylor’s success has catalyzed an international trend, as evidenced by Japan’s Metaplanet, which aims to raise $5.4 billion to accumulate 210,000 BTC by 2027, targeting about 1% of Bitcoin’s maximum supply.
Following this, the firm rapidly ascended to become the tenth-largest corporate Bitcoin holder, with 8,888 BTC.
UK-listed tech company @smarterwebuk has purchased an additional 45 $BTC for $4.7M, boosting their Bitcoin holdings by 55% as part of their 10-year digital asset strategy.#Bitcoin #UK https://t.co/JhMyJErzcd
— Finance Newso.com (@Finance Newso) June 10, 2025
This momentum is observable across various regions, including the UK, where firms are increasingly adopting Bitcoin strategies. The Smarter Web Company has recently increased its holdings by 55% to 168.08 BTC with an additional purchase of 45.32 BTC.
Other British enterprises, such as Abraxas Capital and Bluebird Mining Ventures, are also unveiling significant strategies involving Bitcoin.
Moreover, Nasdaq-listed Mercurity Fintech Holding has announced plans to raise $800 million to bolster its Bitcoin treasury reserves, positioning itself as potentially the 11th-largest corporate holder.
Regulatory Clarity and Market Dynamics Shape Optimistic Second-Half Outlook
Despite concerns regarding systemic risks, Coinbase retains a positive outlook for the cryptocurrency market in the latter half of 2025.
The organization’s analysis suggests that fears of a recession have largely receded following disruptions in early 2025 trade, with stronger-than-expected economic data indicating either continued growth or a mild slowdown instead of a severe downturn.
Source: Coinbase
This favorable macroeconomic climate, alongside rising global liquidity rates and declining tariff effects, establishes an advantageous environment for Bitcoin appreciation, potentially benefiting store-of-value assets over altcoins if long-term yields rise owing to deficit issues.
The evolving regulatory landscape marks a significant development, as the U.S. shifts away from a strategy of “regulation by enforcement” towards a more comprehensive legislative framework for development.
The U.S. Senate Set for Historic Stablecoin Showdown as GENIUS Act nears final vote.#Stablecoins #GeniusAct https://t.co/ZJ59XzuQcn
— Finance Newso.com (@Finance Newso) June 11, 2025
A bipartisan push for stablecoin legislation appears to be gaining momentum, with the Senate poised to pass the GENIUS Act possibly as early as next week. This would be followed by a House review of complementary bills that would establish reserve requirements, compliance guidelines, and consumer protections.
Administration officials express optimism that unified legislation could be presented to President Trump before the August recess, potentially setting the stage for broader crypto market structural reforms, such as the CLARITY Act.
The SEC is also managing around 80 pending crypto ETF applications, adding to the market’s potential volatility. Decisions on multi-asset funds are expected by July 2, with in-kind creation mechanisms anticipated by October, and single-name altcoin ETFs throughout the fall.
While Coinbase notes that its correlation with equities remains high, structural tailwinds such as sovereign adoption in countries like Venezuela and Russia for international trade enhance Bitcoin’s growing status as an uncorrelated store-of-value asset.
This further supports the firm’s forecast of new all-time highs in the second half of 2025.
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