While headlines often spotlight hedge funds and major ETFs as the driving forces behind Bitcoin’s meteoric rise past $124,000 in 2025, there’s another, quieter group making waves: small and mid-size businesses.
Crypto financial services firm River points out that a steady stream of purchases from these companies is creating a meaningful layer of demand that often flies under the radar.
How Smaller Companies Are Jumping In
Data from River reveals that businesses purchased roughly 84,000 BTC this year — roughly a quarter of what large institutional funds and corporate treasuries hold.
Real estate firms lead the pack, with nearly 15% of them allocating profits into Bitcoin.
Other sectors, including hospitality, finance, and software, follow closely behind at 8%–10%.
Even more surprising, smaller players like fitness studios, painters, roofers, and religious nonprofits are experimenting with crypto.
Modest Investments, Big Cumulative Impact
Most companies are keeping their Bitcoin allocations modest.
Over 40% of businesses surveyed set aside just 1%–10% of profits for crypto, and only 10% invest more than half of their net income.
Many purchases are small but frequent. For instance, Western Main Self Storage in Rhode Island recently bought 0.088 BTC (about $9,830), bringing its total to 0.43 BTC. Multiply this across dozens of sectors, and the impact is significant.
“Our new report shows that in 2025, businesses are adopting Bitcoin faster than ever,” River tweeted, highlighting the growing momentum.
Knowledge Gaps Slowing Widespread Adoption
Awareness remains a major hurdle. A recent survey found that only 6% of Americans know Bitcoin’s supply is capped at 21 million.
Another poll indicated 60% of people “don’t know much” about the asset.
Sam Baker from River explains that many businesses never reach a careful evaluation stage — it’s not rejection, it’s simply unfamiliarity.
Why Smaller Firms Can Move Faster
Interestingly, 75% of River’s clients have fewer than 50 employees.
Without layers of committees or drawn-out board approvals, these owners can make quick decisions and test new strategies, including Bitcoin purchases.
This flexibility contrasts with larger, committee-driven public companies, where reputational caution and peer pressure often keep them on the sidelines.
Market Dynamics and Regulatory Clarity Boost Adoption
Baker notes that recent clarity around accounting rules, firmer regulatory guidance, and growing institutional acceptance have eased barriers for corporate Bitcoin adoption.
Spot Bitcoin ETFs, at times buying supply at up to ten times miners’ production, have further pushed prices upward.
These combined dynamics — steady corporate buys and strong ETF activity — have helped fuel Bitcoin’s 2025 surge.
A Cautious but Impactful Trend
Business adoption remains measured and deliberate.
Companies are making controlled, incremental investments rather than bold, sweeping bets. Yet the cumulative effect of thousands of small purchases is shaping demand in ways that past bull runs didn’t see, quietly reinforcing Bitcoin’s upward trajectory.