A growing wave of traditional companies are now embracing digital assets like Bitcoin (BTC), XRP, and Solana (SOL) as part of their corporate treasury strategies, signaling a significant shift in the perception of crypto within the business world. This trend reflects a move beyond considering cryptocurrencies as purely speculative investments, with businesses now exploring their potential for hedging against inflation, diversifying assets, and aligning with the evolving digital economy.
Bitcoin as a Treasury Reserve
Bitcoin, in particular, has gained traction as a corporate treasury asset. Inspired by the early moves of companies like MicroStrategy (now known as Strategy) and Tesla, an increasing number of firms are allocating portions of their balance sheets to BTC reserves. As of July 4, 2025, 250 companies held Bitcoin, with 26 companies beginning to hold Bitcoin in June 2025. This trend is driven by Bitcoin's fixed supply, digital scarcity, and 24/7 liquidity, making it an appealing option for firms looking to protect against fiat devaluation and macroeconomic shocks.
Several companies have quietly amassed significant Bitcoin holdings, including Metaplanet, Riot Platforms, and Galaxy Digital Holdings. Strategy, led by Michael Saylor, remains a prominent player, having acquired over 200,000 BTC since 2020. Trump Media has also announced a $2 billion Bitcoin purchase as part of its crypto treasury strategy. Other companies holding BTC on their balance sheets include Bit Digital, Cipher Mining, KULR Technology Group, Aker ASA, and Jasmine International PCL.
Altcoin Adoption: XRP and SOL
While Bitcoin dominates corporate crypto treasuries, altcoins like XRP and SOL are also gaining traction. Nature's Miracle, an agricultural technology company, recently announced plans to allocate up to $20 million to an XRP corporate treasury. The company intends to use XRP for staking and to leverage Ripple's enterprise blockchain for its business operations, aiming to reduce cross-border costs. Everything Blockchain Inc. has also purchased XRP as a core addition to its treasury.
Solana has also seen increased interest from companies looking to diversify their crypto holdings. Consumer products firm Upexi recently disclosed the acquisition of 83,000 SOL, valued at $16.7 million, for its corporate treasury. DeFi Development Corp. has expanded its SOL holdings to 999,999 tokens, with plans to reach 1 million. This increase in SOL buying by treasury companies has contributed to Solana's rising valuation.
Motivations and Risks
Companies are incorporating crypto into their treasuries for various reasons, including hedging against inflation, preserving the value of their capital, and diversifying their balance sheets. Some companies also see it as a way to embrace open, decentralized technologies and attract investors interested in the crypto space.
However, analysts caution about the potential market and investment risks associated with crypto treasury companies. The volatility of crypto assets can impact a company's balance sheet, and a downturn in crypto prices could lead to significant losses. Additionally, legal and regulatory uncertainties surrounding crypto assets pose risks for companies holding them.
Despite the risks, the trend of traditional companies entering the crypto treasury game appears to be gaining momentum. As the regulatory landscape becomes clearer and institutional adoption increases, more companies may consider allocating a portion of their assets to cryptocurrencies like BTC, XRP, and SOL.
