Bitcoin Adoption Sees Surprising Surge Amid Price Slump

A new report from River has shed light on the growing adoption of Bitcoin, revealing that despite its current price slump, the leading cryptocurrency is experiencing a surge in demand from institutions, corporations, and governments.

According to the firm, institutional accumulation of Bitcoin accelerated sharply over the past year, with approximately 829,000 BTC acquired by institutions alone. Investment advisors have also emerged as steady buyers, with registered investment advisors (RIAs) investing around $1.5 billion per quarter into Bitcoin ETFs without a single quarter of net selling.

Corporate adoption has also accelerated, with public company ownership of Bitcoin increasing by 2.5 times in 2025, and businesses collectively ranking as the largest net buyers during the year. Merchant usage has grown rapidly, with the number of businesses accepting BTC payments tripling in the US and global merchant adoption rising by 74%.

Nation-state involvement has also increased, with five additional countries becoming Bitcoin holders in 2025. Governments have accumulated Bitcoin through various channels, including state-backed mining operations, direct purchases, ETF exposure, asset seizures, donations, and even hacking-related recoveries.