Bitwise CEO Hunter Horsley has forecasted that 2025 could be the year when corporate adoption of Bitcoin takes off. According to Horsley, "It seems likely that 2025 will mark a significant shift with more companies embracing the Bitcoin Standard." This prediction follows Bitwise's recent filing for an ETF designed to track firms holding Bitcoin on their balance sheets. The proposed ETF will focus on companies that own at least 1,000 BTC, with its weightings determined by the amount of Bitcoin held, rather than market capitalization. The ETF will select eligible companies based on their quarterly financial disclosures, with a minimum market cap requirement of $100 million and an average daily trading volume of at least $1 million.
Corporate interest in Bitcoin has largely remained limited, with MicroStrategy (MSTR) leading the way, accompanied by a handful of Bitcoin mining firms. Despite high-profile moments, such as Tesla's significant Bitcoin purchase in 2021, widespread corporate adoption has not materialized as expected. In fact, only 22 companies are currently holding over 1,000 BTC. Tesla’s acquisition was widely anticipated to spark a broader trend, but that shift has yet to take shape.
Furthermore, recent shareholder votes, such as Microsoft's rejection of a proposal to evaluate Bitcoin as an investment, indicate the challenges ahead. With a notable portion of corporate financial leaders still hesitant to consider Bitcoin as a viable store of value, it is clear that widespread Bitcoin adoption in the corporate world will face significant hurdles. While 2025 might be a pivotal year for Bitcoin's corporate embrace, it’s unlikely to be without significant resistance.
Overall, while Horsley’s prediction suggests a potential breakthrough, the path to large-scale corporate Bitcoin adoption remains uncertain and fraught with obstacles. Given the current landscape, 2025 could be a defining year for Bitcoin, but it will likely require more than just a few high-profile investments to shift the broader corporate mindset.