1.
Asset Allocation Diversification: Inflation Resistance, Hedging, and Offsetting
As global inflation pressures rise and fiat currency purchasing power fluctuates, companies are seeking assets with different correlations from traditional assets (such as cash and bonds). Virtual currencies, especially BTC, are viewed as "digital gold," with potential to hedge against currency risks and geopolitical turbulence.
For example, MicroStrategy has been heavily purchasing BTC since 2020, treating it as part of the company's balance sheet, primarily due to concerns about long-term fiat currency depreciation.
2.
Brand and Innovation Image: Embracing Technology, Attracting Young Customers
For some companies, holding virtual currencies is not just an investment, but also a public relations and market strategy. It symbolizes being at the forefront of technology, willing to embrace Web3, decentralization, and innovative spirit, which is attractive to young users and tech-savvy groups.
For instance, Tesla announced holding BTC in 2021 and even briefly accepted BTC for car purchases, drawing significant market attention. Although they later reduced BTC exposure due to environmental and accounting considerations, this move still reinforced their "tech pioneer" brand image.
3.
As Operational Use or Payment Method (for Some Companies)
Some companies hold virtual currencies for actual transactions or international business needs. Especially for tech companies or freelance platforms with extensive global operations, cryptocurrencies can:
- Reduce cross-border remittance fees
- Accelerate payment speed
- Prepare for future user demands
For example, PayPal and Stripe have already opened stablecoin payment functions and are gradually testing solutions for using crypto assets for commercial purposes.
4.
Long-Term Value Bet: Optimistic About Future Digital Asset Status
Some companies are purely "betting on the future". They believe that core assets like BTC and ETH will become global value storage tools or financial infrastructure in the future, thus positioning themselves early.
Such companies like Block (formerly Square), founded by Jack Dorsey, have long-term retained BTC in their financial reports, rarely trading, only holding for the long term. Such operations are usually accompanied by the company management's high belief in digital assets.
5.
Closely Tied to Ecosystem: Web3/Non-Fungible Token/DeFi Business Needs
Some companies' businesses are closely related to virtual currencies, for example:
- Non-Fungible Token platforms (like OpenSea) need to hold ETH for platform settlement
- GameFi companies need to manage game token inventory
- DAO tool companies need to hold governance tokens (like UNI, APE)
These companies' asset structures are linked to token prices, which are not only necessary for operations but also make them "native on-chain" asset holders.
Challenges of Corporate Crypto Holdings
Despite many reasons for holding cryptocurrencies, there are currently two major challenges that deter some companies:
- Accounting Difficulties: Most countries treat virtual currencies as intangible assets, requiring accounting based on "cost and impairment" principles, where price drops must be recognized as losses, but rebounds cannot be immediately revalued as profits.
- Inconsistent Tax Rules: Multinational companies face different tax laws, resulting in high accounting and reporting costs.
Currently, FASB (Financial Accounting Standards Board) is promoting a more reasonable market value accounting method that may improve this situation.
Which Companies Actually Hold Cryptocurrencies? A Comprehensive List
According to Bitcoin Treasuries, as of 2025, the following companies hold large amounts of BTC:
| Company Name | Holdings (BTC) | Type |
| MicroStrategy | Approximately 576,230 | Software Company |
| Tesla | Approximately 11,509 | Automotive Manufacturer |
| Block (Square) | Approximately 8,584 | Financial Technology |
| Galaxy Digital | Approximately 12,830 | Crypto Investment Institution |
| Marathon Digital | Approximately 48,137 | Mining Company |
These companies are mostly from tech or financial backgrounds, with a capacity to bear risk and strategic understanding.
Criticism and Risks:
Not Every Company is Suitable for Holding Cryptocurrencies
Of course, many experts are cautious about companies holding virtual currencies, including reasons such as:
- Extreme price volatility could affect financial report stability
- Troubled by uncertain regulations (such as SEC's stance on stablecoins and trading platforms)
- High hacker risks, requiring extremely high cybersecurity levels for private key management
Therefore, some companies like Meta and Google prefer indirect layouts (investing in blockchain companies, supporting wallets, etc.) rather than holding tokens themselves.
Conclusion:
Corporate Token Holding is Not Just a Financial Operation, But a Strategic Choice
In summary, companies' motivations for holding cryptocurrencies are very diverse:
- Some value hedging and inflation resistance
- Some bet on future technology and brand image
- Some are driven by operational and business needs
But this is not suitable for all companies. Extreme price volatility, unclear regulations, and accounting challenges are still obstacles and must be considered based on the company's financial structure and risk tolerance.
This transformation has just begun. Will your company be the next entrant?
〈Why Are More and More Companies Choosing to Hold Virtual Currencies? A Comprehensive Analysis of 5 Major Motivations〉This article was first published on 《NONE LAND Wave Chain》.
