The trend of public companies adopting bitcoin treasury strategies is gaining momentum, influenced by President Trump's efforts to reshape U.S. cryptocurrency policy, including a March 2025 executive order to establish a strategic bitcoin reserve.

In just two months, several companies have collectively increased their bitcoin holdings to nearly 100,000, with Trump Media & Technology Group raising $2.5 billion specifically for bitcoin investments.

However, experts warn of significant risks associated with these crypto holdings, noting that the volatility of the market could lead to liquidity crises if bitcoin prices drop significantly.

Meanwhile, Metaplanet, the largest Asian bitcoin holder, acquired 1,112 bitcoin for $117.2 million, bringing its total to 10,000 and surpassing Coinbase as the ninth-largest corporate holder.

Standard Chartered indicated that a fall in bitcoin prices below $90,000 could render half of these companies' bitcoin treasuries unprofitable.

Market analysts predict that the current mania in the cryptocurrency space could lead to both substantial winners and losers.

According to Standard Chartered, 61 publicly-listed companies not primarily focused on digital assets have allocated funds toward bitcoin, following the lead of MicroStrategy, which has seen its stock increase over 3,000% since 2020 due to its significant bitcoin holdings.

Public companies have the advantage of leveraging convertible debt markets for bitcoin purchases, allowing them to trade at a premium compared to individual investors who typically buy bitcoin directly.

SolarBank, a Toronto-based solar energy company, has announced plans to implement a bitcoin treasury strategy to attract tech-savvy investors, although it has not disclosed specific bitcoin purchase amounts.

In addition, film studio Angel has recently bought 300 bitcoin, adding to its existing reserve, which it has maintained since 2021.

Some companies may also be seeking political attention through their bitcoin investments, given Trump's public interest in the cryptocurrency sector.

As the market remains characterized by volatility, companies must navigate the potential for substantial rewards alongside significant risks.