Bitcoin captured by the company: Going towards crypto oligopolisia?

According to the latest research data, since 2025, companies have purchased a total of 157,000 Bitcoins. This figure far exceeds the 49,000 ETFs and 19,000 governments, while individual investors sell net 247,000 bitcoins.

Data shows that in 2025, companies are gradually becoming the main buyers of Bitcoin, and their purchasing power has surpassed individuals and ETFs. This trend has prompted private companies to hoard Bitcoin on a large scale, causing decentralized cryptocurrencies to fall into the hands of centralized participants. However, in the face of increasing centralization, can cryptocurrencies maintain their status as a popular alternative?

The following is a chart of Bitcoin purchase distribution in 2025

According to Arcane Research statistics, since the beginning of 2025, companies have purchased a total of 157,000 bitcoins, compared with ETFs, 49,000 pieces, the government has purchased 19,000 pieces, while individual investors have sold net 247,000 pieces. The gradual centralization of Bitcoin is causing structural imbalances.

Although the Bitcoin protocol adds about 450 new bitcoins per day, the large-scale purchase of enterprises has exacerbated the scarcity of available bitcoins in the market. As these "business whales" continue to lock in more Bitcoins, the market may lose its original resilience and openness.

Strategic Transformation: Corporate Vault Transformation to Speculative

In 2025 alone, the proportion of companies purchasing Bitcoin reached 77%, which is a typical case of a transformation in corporate strategies. By converting corporate vaults into Bitcoin holdings, companies bet on the long-term appreciation of cryptocurrencies rather than the liquidity stability of traditional fiat currencies.

This approach is being followed by other companies, such as Rumble or River Financial, which justify their purchasing behavior with three main goals:

River Financial's trends show a firm commitment to Bitcoin.

Individual withdrawal, corporate takeover: the turning point of Bitcoin?

As companies consolidate their positions, individual investors are gradually exiting the market. This phenomenon highlights the growing differences between the two ways to invest in Bitcoin.

Increased volatility, rebound after price correction and macroeconomic uncertainty have led many small holders to profit and exit the cryptocurrency sector.

At the same time, companies are still accumulating Bitcoin at an industrial-grade rate. This retreat on the retail side raises a fundamental question: Can we still call it a popular, accessible and censor-resistant asset when the main holders change?

The transformation of Bitcoin: It runs contrary to Satoshi Nakamoto's vision

In the original white paper, Satoshi Nakamoto designed Bitcoin as a peer-to-peer currency system without intermediaries, allowing everyone to become their own bank. The design aims to directly respond to systemic abuses by large institutions and promote the decentralization of funds.

However, the fact that businesses hold large amounts of Bitcoin:

This runs contrary to the decentralized, equal and free network ideals envisioned by Satoshi Nakamoto. Although Bitcoin remains decentralized at the technical level, it is becoming increasingly concentrated at the economic level.

Bitcoin is reshaping its image: from a personal-led liberal asset to a strategic reserve for businesses such as Metaplanet, which has surpassed El Salvador, which holds the most Bitcoin and plans to occupy 1% of the cryptocurrency market. This centralization is changing the market structure. Faced with the increase in corporate influence, can Bitcoin continue to maintain its role as a tool of personal sovereignty? The discussion continues.

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