A new analysis from the research and brokerage firm Bernstein indicates that corporations may collectively invest up to $330 billion into Bitcoin by the year 2029.
The research, detailed in a note by Matthew Sigel, who heads Digital Assets Research at VanEck, outlines that this anticipated investment boom will largely stem from public companies adopting a Bitcoin treasury strategy similar to that of MicroStrategy.
Bernstein stated, “We expect ~$330Bn corporate treasury led inflows to Bitcoin by 2029E.
Over the next 5 years (CY25E-29E), we expect listed corporates to allocate ~$205Bn capital for Bitcoin acquisition, led by small-low growth companies trying to emulate MSTR’s Bitcoin treasury…” pic.twitter.com/RPgXkLG1Gt
— matthew sigel, recovering CFA (@matthew_sigel) May 5, 2025
According to the analysts, smaller-cap, low-growth companies with substantial cash reserves are on the lookout for alternative avenues to grow, particularly as their traditional business models face stagnation.
Bernstein projects that approximately $205 billion of the potential influx will come from publicly traded corporations over the next five years, spanning from 2025 to 2029.
In a particularly optimistic scenario, Bernstein envisions that an additional $124 billion could be funneled into Bitcoin from MicroStrategy itself. The company recently announced it has intensified its capital raise plans, increasing the target from $42 billion to $84 billion through 2027, with about 32% of that already achieved.
With many firms sitting on substantial cash but lacking appealing reinvestment options, Bitcoin is emerging as a strategic diversification asset and a potential engine for value generation.
“There is no visible road ahead for them for value creation,” Bernstein’s analysts highlighted. “The success of the MSTR model offers them a rare growth path.”
The report further underscored that companies with cash holdings exceeding $100 million could collectively account for a projected $190 billion inflow into Bitcoin.
Even more conservatively, high-growth small firms might contribute around $11 billion to Bitcoin by 2026, while major corporations could add at least $5 billion by 2027.
Nonetheless, Bernstein did offer a note of caution, emphasizing that replicating the success of the MicroStrategy model may not be feasible for all companies. The viability of this strategy is closely linked to Bitcoin’s market performance, and many enterprises may lack the risk tolerance or capital access to invest at a similar scale.
MicroStrategy and the VanEck Effect: Corporate Accumulation Accelerates
MicroStrategy, led by Michael Saylor, has become the most prominent case of corporate Bitcoin accumulation.
On May 5, the company acquired an additional 1,895 BTC for over $180 million, raising its total Bitcoin holdings to approximately 555,450 BTC.
@Strategy continues its aggressive bitcoin acquisition strategy with the latest purchase of 1,895 BTC for approx $180.3 million. #MSTR #Bitcoinhttps://t.co/hInTpnDniN
— Finance Newso.com (@Finance Newso) May 5, 2025
This Bitcoin trove is valued at around $52.5 billion at current market rates, with an average acquisition cost of $68,569 per BTC.
Data from the Saylor Tracker reveals that MicroStrategy’s investment in Bitcoin has generated nearly $14 billion in unrealized profits, marking a 38% increase.
The company’s outstanding performance has captured the attention of investors, with its share price boosting nearly 97% since the beginning of the year, surpassing Bitcoin’s performance, which has remained relatively stable.
@Strategy (MSTR) jumps 32% in April, fueled by $1.9B Bitcoin buys and BTC optimism ahead of Q1 earnings report.#Bitcoin #MSTRhttps://t.co/QWMe6IMoOF
— Finance Newso.com (@Finance Newso) May 1, 2025
According to BitBo data, public companies now cumulatively hold over 723,000 BTC, which equates to more than $68 billion.
Other notable holders include mining companies like Marathon Digital, Riot Platforms, and CleanSpark.
Additionally, a new venture named 21 Capital, established by Softbank, Tether, and Cantor Fitzgerald, plans to acquire $3 billion worth of Bitcoin.
Cantor Fitzgerald is reportedly eyeing a multibillion-dollar Bitcoin acquisition vehicle with SoftBank, Tether, and Bitfinex as institutional interest heats up under Trump.#TradFi #Cantor https://t.co/r9bNZYTJa7
— Finance Newso.com (@Finance Newso) April 23, 2025
Further insights from VanEck’s April 2025 Digital Assets Monthly report reveal that Bitcoin briefly outshone equities during a turbulent market period marked by geopolitical tensions and tariff announcements from former President Donald Trump.
While traditional investments like the S&P 500 and gold experienced downturns, Bitcoin’s value surged from $81,500 to over $84,500, suggesting a shift in how investors perceive it as a macroeconomic hedge.
Although Bitcoin’s correlation with equities increased again by the end of April, rising from under 0.25 to 0.55, VanEck identified structural factors that may enhance Bitcoin’s future independence from stock market movements.
Interest from sovereign and institutional investors in Bitcoin as a distinct, value-retaining asset is on the rise. Notable instances include countries like Venezuela and Russia utilizing Bitcoin for international transactions as early indicators of this trend.
However, the wider cryptocurrency market remains unstable. Although Bitcoin appreciated by 13% in April, altcoins such as Ethereum and various meme-based coins struggled. The MarketVector Meme Coin Index has decreased by over 50% year-to-date, while Layer-1 platforms like Ethereum experienced significant drops in fee revenue.
Source: MarketVector
Despite lively activity on networks like Sui and Solana, speculative enthusiasm has waned, with Bitcoin emerging as a notable contender for institutional interest and resilience.
State-Level Ambitions Falter Amid Federal Uncertainty
Even as institutional interest in Bitcoin continues to swell, state-level adoption is facing major challenges.
Florida has recently become the latest state to withdraw its plans to integrate Bitcoin into its treasury strategy.
Florida has become the latest US state to abandon efforts to establish a strategic Bitcoin reserve, dealing another setback.#Bitcoin #Reservehttps://t.co/kRZo2V0BzE
— Finance Newso.com (@Finance Newso) May 6, 2025
Proposed legislation, including House Bill 487 and Senate Bill 550, was retracted from the legislative agenda on May 3, despite an extended session until June 6 for budget discussions.
Had they been approved, the bills would have allowed Florida’s chief financial officer and the State Board of Administration to invest up to 10% of certain state funds into Bitcoin.
The withdrawal of these bills reflects a trend seen in several other states, including Wyoming, North Dakota, South Dakota, Pennsylvania, Montana, and Oklahoma, which have similarly mired crypto investment initiatives.
While corporations and hedge funds are increasingly embracing Bitcoin as a treasury reserve and macroeconomic hedge, lawmakers remain cautious due to concerns about volatility and financial responsibility.
If Bitcoin sustains its current momentum, Bernstein’s optimistic $330 billion projection could potentially materialize as a reality.
The post Corporations Could Pour $330B Into Bitcoin Treasuries by 2030, Says Bernstein appeared first on Finance Newso.
