Public companies are expected to allocate over $300 billion into Bitcoin by 2029, according to a recent report from analysts at asset management firm Bernstein. The report reflects a significant shift toward the cryptocurrency as more firms follow the example set by MicroStrategy (now known as Strategy) and its aggressive Bitcoin accumulation strategy. This projection highlights the growing confidence of public corporations in Bitcoin as a reliable store of value and an attractive asset class.

Bernstein’s report outlines that between 2025 and 2030, public companies could direct nearly $205 billion into Bitcoin. Additionally, about $124 billion is anticipated from companies that follow the capital deployment strategy of Strategy. This would further cement Bitcoin’s place as a mainstream asset for corporations seeking to diversify their treasury reserves.

Currently, Strategy holds over 555,450 BTC, which it acquired for approximately $38.08 billion, based on an average price of $68,550 per Bitcoin. Most recently, Strategy added 1,895 BTC to its holdings, worth about $180 million. This aggressive strategy has been instrumental in raising awareness of Bitcoin’s potential as a corporate asset and has spurred other companies to consider similar investments.

Bernstein’s projections assume that more public companies, particularly those with large cash reserves but limited growth prospects, will embrace Bitcoin as a hedge against inflation and a store of value. The firm believes that these companies are likely to replicate Strategy’s approach, which involves allocating a portion of their treasury reserves into Bitcoin. Bernstein further suggests that if just 20% of eligible firms were to commit 25% of their reserves to Bitcoin, it could generate as much as $190 billion in Bitcoin inflows.

The increase in Bitcoin holdings among public companies is also reflective of broader changes in regulatory and accounting standards that have made it easier for firms to invest in cryptocurrencies. At the end of 2023, public companies owned 1.3% of the total Bitcoin supply, but by Q1 2025, that figure had risen to 3.4%. This growth mirrors the increasing acceptance of Bitcoin in the corporate world, with public companies now holding a total of 720,898 BTC, worth around $67.8 billion. Private companies, on the other hand, hold 398,323 BTC, valued at $37.44 billion.

Bernstein analysts also note that the role of Strategy in creating institutional-grade financial products for Bitcoin has been pivotal in enabling corporate access to the cryptocurrency. The company’s structured financial instruments, such as its Bitcoin-backed debt offerings, have allowed other firms to mirror its approach. However, analysts caution that while Strategy’s strategy has been successful, other firms may not experience the same results by attempting to replicate its model.

Despite these risks, Bernstein’s report suggests that growing access to capital markets and a tightening supply of Bitcoin may drive further corporate adoption in the coming years. Michael Saylor, Chairman of Strategy, recently reiterated his commitment to buying more Bitcoin, even if the price reaches $1 million per coin. He has also expressed readiness to make daily purchases of up to $1 billion, signaling his belief in Bitcoin’s long-term value proposition.

In conclusion, Bernstein’s report underscores the accelerating trend of public companies adopting Bitcoin as part of their treasury management strategies. With an expected $330 billion in Bitcoin investments by 2029, Bitcoin’s status as a corporate asset will continue to grow, contributing to its larger role in the global financial system. This corporate shift could have far-reaching implications for both the cryptocurrency and traditional financial markets.