River: Businesses Reinvesting 22% of Profits Into Bitcoin in 2025

Bitcoin financial services firm River reports that private businesses have accumulated roughly 84,000 BTC in 2025, boosted by clearer regulations and a strong bull market.

According to River, its clients are reinvesting an average of 22% of profits into Bitcoin, reflecting growing grassroots adoption across industries. Real estate firms led the way, with nearly 15% of profits allocated to BTC, while companies in hospitality, finance, and software each dedicated between 8% and 10%, research analyst Sam Baker noted in a report published Wednesday.

Related reporting: India and US lead Chainalysis’ 2025 crypto adoption index

Adoption is also spreading beyond traditional sectors, with fitness studios, roofing and painting contractors, and even religious nonprofits joining the wave of businesses allocating profits into Bitcoin.

Key Bitcoin adoption metrics in the private sector. Source: River

Businesses across various sectors have quietly accumulated 84,000 Bitcoin in 2025, equivalent to nearly a quarter of the holdings built up by institutional funds and corporate treasuries, according to River research analyst Sam Baker.

“While Bitcoin treasury companies have captured most of the media spotlight, what is often overlooked is adoption by conventional businesses that are using Bitcoin to complement their existing models,” Baker said.

He added that the combination of clearer regulations, stronger accounting standards, growing institutional acceptance, and a bullish market environment has created the “ideal conditions for the widespread adoption we are witnessing today.”

Largest Bitcoin buyers in 2025. Source: River

Business and institutional adoption has emerged as a key driver of Bitcoin’s surge to $124,450 in the latest bull cycle.

At times, spot Bitcoin ETF issuers have purchased nearly 10 times more BTC than miners produced, creating strong upward pressure on prices.

This stands in stark contrast to the 2020–2021 bull run, when Bitcoin peaked at $69,000 largely on the back of retail-driven hype, while most businesses remained on the sidelines.

River Analyst: Small Businesses Lead Bitcoin Adoption, While Large Firms Lag.

According to River’s Sam Baker, around 75% of the businesses the firm serves have 50 employees or fewer, a size that makes it easier for them to adopt Bitcoin due to fewer bureaucratic hurdles.

By contrast, larger corporations with committee-driven decision-making processes tend to be more conservative, often sticking to established norms and steering clear of potential controversy. Baker pointed to this dynamic as a key reason why so few S&P 500 companies currently hold Bitcoin.

“Even if a CEO or CFO personally believes in Bitcoin’s long-term potential, they’re unlikely to push for adoption until peer companies have already taken the lead,” Baker explained.

River: Many Businesses Still Overlook Bitcoin Despite Rising Adoption

River’s research shows that more than 40% of businesses allocate between 1% and 10% of profits to Bitcoin, while just 10% commit over half of their net income to the cryptocurrency. For smaller firms, purchases are often modest: last week, Rhode Island-based Western Main Self Storage bought 0.088 BTC (about $9,830), bringing its total holdings to 0.43 BTC.

Source: BitcoinTreasuries.NET

Despite signs of adoption, River analyst Sam Baker said most companies are still not seriously considering Bitcoin, citing “widespread misunderstandings and limited awareness.” He noted a Cornell University survey where only 6% of Americans knew Bitcoin’s supply is capped at 21 million, and another poll in which 60% admitted they don’t know much about crypto.

“Bitcoin is often dismissed not because it’s been evaluated and rejected, but because most decision-makers don’t have the understanding to evaluate it in the first place,” Baker explained.