 | While a lot of people focus on MicroStrategy, there are thousands of businesses putting Bitcoin on the balance sheet. We know because at River we have over 1000 businesses on the platform now, over 70% of which have never sold any. To showcase this wave of adoption, we created a new report, including some of our client's aggregated data and other interesting trends on Bitcoin adoption. Some key insights below: The distribution of how much Bitcoin businesses hold is pretty even. Businesses represent a large and growing segment of Bitcoin users, accounting for 3.3% of Bitcoin’s total supply, or 683,332 BTC as of August 18, 2024. This number has grown by 587% since June 30th, 2020, and by 30% in the past twelve months. We estimate that business bitcoin holdings will grow at a rate of between 204 and 519 BTC per day until the year 2026, equivalent to a range of $12.2 million and $31.1 million per day at a $60,000 bitcoin price. If you're curious about the full methodology for this estimate, check out the full report. Some of the other things we cover in the report are: Hopefully this is interesting to you all, the full report took a lot of work from our team and is freely available to anyone, like our previous research on the Lightning Network, mining, and more. [link] [comments] |
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