BTC’s Explosive Growth in Corporate Reserves

Happy Monday Bitcoiners, it's Bam here with another Bitcoin update!

Each week, our team at Bitcoin News saves you time by curating the most impactful events into a concise, easy-to-read update.

Notable events this week include:

• Morgan Stanley adds Bitcoin ETFs as a 10 top holding in certain funds.

• Carrefour in France now accepts Bitcoin.

• All businesses combined now hold nearly 700,000 BTC.

Let’s dive in! ⚡

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LATEST NEWS 📰

🙌 ADOPTION

• BTCTurk, Turkey’s oldest Bitcoin exchange, integrates the Lightning Network into their platform.

• Carrefour, the seventh-largest retailer in the world, now accepts bitcoin in Rouen, France.

• Mastercard introduces a Euro-denominated, non-custodial Bitcoin debit card.

⚖️ LEGAL

• Japan to lower the maximum tax rate on Bitcoin and crypto from 55% to 20%, aligning it with the rate for other financial assets.

• Qatar launches the QFC Digital Assets Framework, a comprehensive regulatory framework for digital asset creation and tokenization.

• FTC urges caution as Bitcoin ATM fraud cases skyrocket.

📈 MARKETS

• Zurich Cantonal Bank ($290 billion AUM) launches Bitcoin and crypto offerings.

• Morgan Stanley discloses Bitcoin ETF as one of the top 10 holdings within its Institutional Fund/Counterpoint Global Portfolio.

• The number of public companies holding Bitcoin has surged by 40% in the past year, with 52 now including BTC on their balance sheets.

⛏️ MINING

• Riot Platforms mines 322 BTC in August and now holds over 10,000 Bitcoin.

• The United Arab Emirates announces the opening of its first multi-unit nuclear power plant, a year after signing a major Bitcoin mining deal with MARA.

• Bitcoin hashrate records a new all-time high, surpassing 740 EH/s.

🗳️ POLITICS

• Bank of Canada cuts policy rate by 25 basis points for the second time in a row.

• Opposition leader María Corina Machado in Venezuela has proposed adopting Bitcoin as the country’s national reserve asset.

• Bank of Japan governor Kazuo Ueda reiterates his intention to raise interest rates, widely expected later this year.

BAMS 2 SATS 🧢

River published its Corporate Bitcoin Adoption Report this week, highlighting the growing trend of businesses using Bitcoin as a treasury reserve and as a payment method.

The first thing that comes to mind when reading the report is the famous quote:

Although I’m not a fan of Mr. Gates, there’s a lot of truth in his words. Bitcoin has existed for just under 16 years. What was once dismissed by many as speculative and risky "magic internet money" has now evolved into hard money, and for Wall Street, it has become an institutional-grade asset.

It took nearly a decade for Bitcoin to start appearing on company balance sheets. The trend began with Bitcoin mining companies holding onto the asset they were producing, but it gained momentum when MicroStrategy, a company outside the Bitcoin or crypto space, fully adopted the Bitcoin Standard. MicroStrategy not only embraced Bitcoin but also became a corporate advocate, sharing its strategy with other companies.

Over the past four years, the number of companies holding Bitcoin has tripled. Even more impressively, the total amount of Bitcoin held by these companies has surged by 587%, reaching 683,332 BTC.

We've already witnessed a significant transfer of Bitcoin from individuals to businesses and ETFs, which now collectively hold nearly 1.7 million BTC.

If businesses and ETFs continue accumulating Bitcoin at this pace, they could add up to 500,000 BTC annually.

This shows that, despite Bitcoin’s short-term price volatility, its adoption is accelerating rapidly. It may go unnoticed by many of us, especially if we can’t use it at local grocery stores or if those around us remain unaware of it. But as some say, it might happen gradually—and then suddenly.

Keep on stacking!
Bam

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You won’t believe the answers—especially from the 95-year-old!