Global companies have raised nearly $86 billion so far in 2025, purchased cryptocurrency, surpassing the capital raised through their initial public offering this year.
This surge shows a turning point in how a company views its digital assets.
About 100 companies have raised $43 billion to buy crypto since June
Nearly 100 companies have announced plans to raise more than $43 billion since June, according to data reported by the Wall Street Journal. The funds are directed towards assets such as Bitcoin, Ethereum and XRP.
Many of these efforts have already been implemented, reflecting the growing institutional interest in cryptography amid the favorable sentiment of the US market.
One of the most offensive players in this space is Strategy Inc. (formerly MicroStrategy), which pioneered the trend towards purchasing companies in Bitcoin in 2020. So far, the company has raised over $10 billion to increase its BTC holdings.
Its aggressive approach has made the strategy one of the best performing stocks in the digital assets space, pushing its valuation to a new high.
Other companies are following. Japan’s Metaplanet and US-based Minor Marathon Digital have also secured large amounts of funds to increase exposure to top cryptos.
The data compiled by HODL15CAPITAL also suggests that more than 35 companies are preparing to raise billions to pursue similar strategies.
Beyond Bitcoin, Ethereum has been attracting attention among financial buyers. Bitmine Immersion Technologies is seeking up to $5 billion to book ETH, while Sharplink is handled by Joseph Lubin, co-founder of Ethereum, targeting hundreds of millions of people for its ETH strategy.
Additionally, as part of the diverse Treasury allocation, several agencies have committed millions of people to other digital assets such as XRP, Ethena and BNB.
Analysts warn of the risks of approach
But despite the boom, some analysts have raised red flags about these companies’ approaches.
Last month, Matthew Sigel, head of digital asset research at Vaneck, warned that widespread use of market (ATM) offerings could pose risk to shareholders.
These programs allow companies to issue new shares as long as the stock price exceeds the net asset value (NAV). However, lower prices can lead to significant dilutions.
Sigel recommends pausing the ATM program if you lower your DIP for 10 consecutive days at less than 95% of NAV. He also advocates prioritizing stock buybacks when cryptocurrency prices rise, but the stock valuation does not continue.
To better match corporate leadership with shareholder outcomes, Sigel proposes linking executive compensation to NAV-Per-Share’s growth, rather than total crypto holdings.
Disclaimer
In compliance with Trust Project guidelines, Beincrypto is committed to reporting without bias and transparent. This news article is intended to provide accurate and timely information. However, we recommend that readers independently verify the facts and consult with experts before making decisions based on this content. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
