2025 marked a period of explosive growth in the adoption of the first cryptocurrency by institutional banks, public companies, and governments, according to analysts at River.
— River (@River) February 24, 2026
They noted that there is "no bear phase" in the Bitcoin adoption market. Despite a nearly 50% drop from its all-time high, the pace of adoption continues to rise. However, this has yet to impact prices.
“Trust in Bitcoin is growing faster than any other asset in history. The experiment has transformed into a globally recognized store of value, and its adoption dynamics are comparable to that of the internet,” the experts emphasized.
Major Buyers
According to River, institutional investors accumulated 829,000 BTC last year. This group includes businesses, governments, funds, and ETFs.
Registered investment advisors have been purchasing Bitcoin for two years, investing about $1.5 billion quarterly into cryptocurrency-based spot structures. This has provided millions of retail clients access to the asset through brokerage accounts and retirement plans.
Approximately 60% of leading U.S. banks have also joined in developing products focused on digital gold.
“Thanks to a favorable regulatory environment in the United States, banks can now hold cryptocurrency and offer Bitcoin products to their clients,” River stated.
Corporations emerged as the primary buyers of the flagship cryptocurrency in 2025, with demand driven mainly by data and analytics companies, whose numbers grew 2.5 times over the year.
Payments
The number of American firms accepting Bitcoin as payment tripled, while global usage surged by 74%. Companies like Steak ‘n Shake have confirmed that cryptocurrency payments reduce transaction costs and positively impact financial performance.
The number of transactions via Lightning Network skyrocketed by 300% over the year. River estimates that the network now processes over $1.1 billion monthly.
Governments
In 2025, five more countries became Bitcoin holders, including:
- two sovereign funds from Luxembourg and Saudi Arabia;
- the central bank of the Czech Republic;
- Brazil;
- Taiwan.
“These countries are accumulating Bitcoin through various means: state mining, Bitcoin purchases and ETFs, donations, confiscations, and even hacker breaches,” River explained.
Decreased Volatility
Analysts report that Bitcoin's volatility has approached levels seen in gold and the S&P 500, signaling the asset's maturation and a lower entry threshold for conservative investors.
“The last bull market is the best confirmation: in three years, the first cryptocurrency attracted more investment than in its entire previous history,” they emphasized.
Last year, the asset exhibited weak price dynamics, but the trend in adoption suggests otherwise. This is not about price spikes of “10 times overnight” — the current wave of adoption is much deeper and more significant, River noted.
“With each passing year, trust in Bitcoin from individuals, businesses, institutional investors, and governments only strengthens. […] In the coming years, we expect not just continuation, but a real acceleration of this trend,” the specialists concluded.
As a reminder, in January 2025, BlackRock stated that since Bitcoin's launch in 2009, its adoption rate has outpaced that of the internet and mobile phones.