Bitcoin's institutional and nation-state adoption has significantly increased in 2025, despite recent price declines, according to Cointelegraph. River, a financial services company, reported that Bitcoin (BTC) adoption is thriving, even as its price remains 50% below its all-time high. The report highlights that Bitcoin's trust has grown faster than any other asset in history, evolving from an experimental phase to a globally recognized store-of-value, with adoption patterns comparable to the internet.
River's findings indicate that institutions accumulated 829,000 BTC in 2025, with purchases made by businesses, governments, funds, and exchange-traded funds. Registered investment advisors have consistently bought BTC for eight consecutive quarters, investing approximately $1.5 billion in Bitcoin ETFs each quarter over the past two years. These institutions represent millions of individuals gaining exposure to Bitcoin through brokerage accounts, retirement plans, sovereign funds, and corporate balance sheets.
Moreover, 60% of the top U.S. banks are developing Bitcoin products, benefiting from a favorable regulatory environment that allows them to custody Bitcoin and offer related products to customers. Businesses emerged as the largest buyers of BTC in 2025, with crypto treasury companies driving the majority of purchases, experiencing a 2.5-fold increase in adoption last year. Merchant adoption also surged, with the number of U.S. businesses accepting Bitcoin for payments tripling, while global usage grew by 74% in 2025.
The Lightning Network's Bitcoin payments increased by 300% in 2025, with River estimating that the network now processes over $1.1 billion in monthly transaction volume. Five nation-states, including Luxembourg, Saudi Arabia, the Czech Republic, Brazil, and Taiwan, became new Bitcoin owners in 2025, with purchases from sovereign wealth funds and central banks. River estimates that 23 nation-states hold Bitcoin through state-backed mining, seizures, or central bank exposure.
Bitcoin's volatility is reportedly declining, nearing levels similar to gold and the S&P 500, suggesting it is increasingly viewed as a mature asset class. As volatility decreases, the barrier for risk-averse investors lowers, potentially opening the door to larger capital pools. River emphasizes Bitcoin's foundation on trust, describing it as the world's "only scarce and incorruptible form of digital money." The company anticipates that Bitcoin adoption will not only continue its current trajectory but will also accelerate significantly in the coming years.
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