A bold new forecast from the brokerage firm Bernstein claims that public companies could put into Bitcoin as much as $330 billion by the end of this decade-an outright game-changer for treasury management and the crypto market at large.
The thesis? Corporate America is waking up to the idea that Bitcoin might be the new gold for balance sheets — a store of value in an inflation-prone, low-yield world. And at the center of this emerging trend sits the company now known simply as Strategy (formerly MicroStrategy), helmed by none other than Bitcoin’s loudest corporate bull, Michael Saylor.
The Strategy Playbook Goes Mainstream
Bernstein’s analysts believe that small-cap public companies with stagnant growth and big cash piles are the most likely to follow Strategy’s lead. They forecast that by 2029, public firms could pour in $205 billion, with an additional $124 billion potentially stemming from Strategy itself.
If that prediction proves accurate, it would elevate Bitcoin from a speculative asset to a mainstream treasury tool — an unorthodox but logical next step for CFOs seeking yield where none exists.
“There is no visible road ahead for them for value creation,” Bernstein noted. “The success of the MSTR model offers them a rare growth path.”
The report points out that companies with over $100 million in cash reserves could contribute $190 billion to this wave of adoption, signaling a significant shift in how firms view treasury diversification.
Even more modest projections suggest that by 2026, high-growth small-cap companies may inject $11 billion, and at least $5 billion could come from just ten major corporations by 2027.
A Reality Check: The Strategy Model Isn’t for Everyone
Not every firm can—or should—go full Saylor. Bernstein cautions that the strategy’s success hinges on Bitcoin’s long-term price performance and requires both capital access and a very high risk tolerance. For most, it’s a bold move — not a blanket recommendation.
Still, the math behind Strategy’s approach is tough to ignore.
Just this week, the company bought another 1,895 BTC for $180 million, bringing its total stash to 555,450 BTC. That hoard, acquired at an average price of $68,569 per coin, is now worth about $52.5 billion — a 38% unrealized profit.
And the market’s taken notice. Strategy’s stock price is up 97% year-to-date, outperforming even Bitcoin, which has hovered flat in recent weeks.
Institutional Bitcoin Is Already a Thing
According to BitBo data, public companies now collectively hold over 723,000 BTC, worth more than $68 billion. Notable names include Marathon Digital, Riot Platforms, and CleanSpark, all continuing to stockpile digital gold.
Meanwhile, SoftBank, Tether, and Cantor Fitzgerald recently launched a joint venture dubbed 21 Capital, aiming to purchase $3 billion worth of Bitcoin — another sign of growing institutional appetite.
VanEck’s April 2025 Digital Assets Monthly noted a temporary decoupling of Bitcoin from traditional equities during Trump’s latest tariff announcements. As the S&P 500 wobbled, Bitcoin surged from $81,500 to over $84,500, highlighting its growing reputation as a macro hedge.
Long-Term Tailwinds, Short-Term Volatility
VanEck also pointed to sovereign-level adoption — like Venezuela and Russia using BTC for international trade — as early signs of Bitcoin’s institutional migration from Wall Street to global statecraft.
Still, not all is bullish across the board. While Bitcoin posted a 13% gain in April, altcoins faltered. Ethereum continues to lag in fee revenue, and the MarketVector Meme Coin Index is down more than 50% year-to-date.
So while Bitcoin may be entering a new phase of legitimacy, much of the crypto market still feels speculative and volatile.
If Bernstein’s estimates are even half right, the next five years could mark a historic shift in how companies manage their balance sheets. Bitcoin may no longer be just a bet — it could become a balance-sheet standard.
In that case, corporate adoption won’t just support Bitcoin’s price — it could redefine treasury strategy as we know it.
