Bitcoin is buying billions of dollars - these companies are flocking to it

In the spring of 2025, the global financial market is quietly brewing a revolution. Bitcoin, once ridiculed as a "geek fantasy", now proudly takes center stage in corporate board strategies. From Wall Street financial giants to Silicon Valley tech pioneers, from Tokyo's investment stars to British football clubs, listed companies and institutions are incorporating Bitcoin into their balance sheets at an astonishing speed. This is not a speculative frenzy, but a carefully considered bet on value storage, brand reinvention, and future finance.

United States: Bitcoin's "Wall Street Moment"

The United States, as the beacon of global finance and technology, is the pioneer of corporate Bitcoin investment. From April to May 2025, listed companies are embracing Bitcoin on a scale and speed that is eye-opening, driven by both wariness of inflation and a desire for brand innovation.

MicroStrategy: Standard-Bearer of Digital Gold

MicroStrategy, a business intelligence software company founded in 1989, is no longer a traditional tech enterprise. Under the leadership of founder Michael Saylor, it has transformed into the world's largest "Bitcoin investment company". In April 2025, MicroStrategy's move was nothing short of epic: the company purchased 25,370 Bit in three batches, totaling approximately $2.261 billion (April 7-13: 3,459 Bit, $285.8 million; April 14-20: 6,556 Bit, $555.8 million; April 21-27: 15,355 Bit, $1.42 billion). By the end of April, its holdings reached 553,555 Bit, with a cost of about $37.9 billion. Even more stunning was the record $21 billion ordinary share At-The-Market (ATM) issuance, adding 301,335 Bit, effectively reshaping the company's asset landscape.

Saylor's logic is simple yet radical: long-term US dollar depreciation makes cash reserves melt like snow, while Bitcoin's fixed supply (21 million Bit) makes it "cyber gold". He not only bet the company's fate on this but also became a Bitcoin evangelist on social media, attracting global attention. What's less known is that MicroStrategy's success benefited from a hidden catalyst: in 2023, the US Financial Accounting Standards Board allowed companies to measure Bitcoin at fair value, greatly reducing accounting complexity. This policy dividend was like opening Pandora's box, encouraging more companies to follow.

Twenty One Capital: Super Alliance of Finance and Crypto

Twenty One Capital (21 Capital) is the "super newcomer" of Bitcoin investment in 2025. This new company plans to go public through a SPAC merger with Cantor Equity Partners, forged by four giants:

• Cantor Fitzgerald, a Wall Street investment bank founded in 1945 with annual revenue over $2 billion, collaborating with Tether to manage its Treasury assets.
• SoftBank, a Japanese tech investment giant managing over $200 billion in assets, with an investment portfolio including Alibaba and Uber.
• Tether, the issuer of the world's largest stablecoin USDT, with approximately $13 billion in profits in 2024.
• Bitfinex, a leading crypto exchange with daily trading volumes exceeding $1 billion.

On April 23, 2025, 21 Capital announced raising $360 million through a SPAC merger, initially holding 42,000 Bit (about $3.9 billion). Funding sources included $150 million from Tether (later revised to $160 million), $900 million from SoftBank, $600 million from Bitfinex, and $585 million in debt and equity financing. The project was led by Cantor Fitzgerald Chairman Brandon Luttig, with Strike founder Jack Mallers as CEO. 21 Capital introduced "Bit per Share" (BPS) and "Bit Return Rate" (BRR) indicators, aiming to maximize shareholders' Bit exposure.

21 Capital's birth is a historic handshake between traditional finance and the crypto industry. Cantor Fitzgerald's endorsement brings Bitcoin into Wall Street's core; SoftBank's involvement marks Masayoshi Son's strong comeback from the 2017 Bitcoin investment failure; Tether and Bitfinex's financial strength inject rocket fuel into the project. This is more than an investment; it's a declaration about the future of finance. However, Tether's regulatory controversies (2021 US settlement) may cast a shadow, and the complexity of its SPAC listing adds uncertainty.

Semler Scientific: Hidden Pioneer of the Medical Industry

Semler Scientific, a California medical technology company focusing on chronic disease management devices, with a market value of only $300 million, seemingly unrelated to the cyber world of Bit. However, in April 2025, this small giant showed great boldness. On April 15, the company planned to issue $500 million in securities, explicitly stating that funds would primarily be used to purchase Bit. Subsequently, from April 25-29, it added 165 Bit, spending about $15.7 million, with total holdings reaching 3,467 Bit, valued at approximately $326 million.

Why is Semler betting on Bit? CFO Doug Murphy-Chutorian previously revealed at a shareholders' meeting that Bit's decentralized nature and anti-inflationary attributes align with the company's pursuit of long-term value. A deeper driver comes from shareholders: some of Semler's investors are crypto hedge funds hoping to enhance returns through Bit. Semler's low-key execution—neither overly promotional nor causing stock price volatility—demonstrates an emerging model: small and medium-sized listed companies are quietly integrating Bit into their strategies, rather than merely chasing market trends.

GameStop: From Meme Stock to Bit Pioneer

GameStop's story is like a Hollywood script. This game retailer founded in 1984 gained fame during the 2021 "meme stock" frenzy (driven by retail investor communities). On March 27, 2025, GameStop announced issuing $1.3 billion in zero-coupon convertible bonds (maturing in 2030), with a $200 million additional issuance option, totaling approximately $1.48 billion, directly aimed at Bit purchases. This move stunned the market, with retail investor communities viewing it as the beginning of "GameStop 2.0".

Under CEO Ryan Cohen's leadership, GameStop is breaking out of retail difficulties. Bit is not just an asset hedging tool but a brand reinvention weapon aimed at attracting young, tech-friendly consumers. The company also plans to launch crypto-related services like NFT markets or Bit payment systems. However, the $1.5 billion massive investment also sparks controversy: Bit's volatility could make financial statements a roller coaster. Supporters see it as a meme culture victory, while critics worry about repeating aggressive expansion mistakes. Regardless, GameStop's transformation is destined to be a 2025 focal point.

Tesla: Silent Bit Holding Behemoth

Tesla, global electric vehicle leader with a market value exceeding $1 trillion, led by Elon Musk, whose every move in the crypto realm moves market nerves. In April 2025, Tesla disclosed holding 11,509 Bit, valued at approximately $951 million, unchanged from the previous quarter. Since purchasing Bit in 2021, Tesla briefly accepted Bit payments (later suspended due to environmental controversies) but never sold its holdings.

Tesla's low-key approach is intriguing. Musk, as a crypto "opinion leader", has repeatedly expressed support for Bit, calling it a "decentralized financial experiment". As a new energy giant, Tesla must balance environmental pressures with crypto investment returns. Bit mining's energy controversy makes the company cautious, but its persistent holding shows confidence in long-term value. Tesla's silence, like calm before a storm, hints at potentially larger strategies brewing.

SBC Medical Group: A Small and Beautiful Experimental Field

SBC Medical Group, a small medical company focusing on beauty and health services, listed on NASDAQ in 2024 with a market value of less than $100 million. On April 14, 2025, it purchased 5 Bit coins for $400,000, stating this move was a strategy to "diversify assets and preserve value". Despite its small scale, this action reflects the spread of Bit coin investment: even marginal players are beginning to test the waters of digital gold.

SBC's motivation might come from executives' crypto beliefs or shareholder pressure. Its attempt, though inconspicuous, is like a seed, suggesting that Bit coin might take root in more small and medium-sized enterprises. This trickle effect may have more long-term significance than the bold bets of giants.