Why are companies All in on Bitcoin? Who is playing people for suckers?

When the floating profit of the world's largest bitcoin "whale" strategy exceeded $21 billion, and when Japanese fashion brands and British listed companies dyed their balance sheets "bitcoin color", this corporate currency buying frenzy that swept the world is subverting traditional financial cognition. What is the strategy of holding 582,000 bitcoins? Behind the rush of enterprises to enter the market, is it technology belief or capital arbitrage? This article will deconstruct this crazy battle for "digital gold" in depth.

Who is betting big on Bitcoin?

1. Whale unrealized gains myth refreshed again

MicroStrategy (now renamed Strategy) has once again shaken the market with its latest move: investing $110 million to buy 1,045 Bitcoins, bringing its total holdings to 582,000 coins, which accounts for 2.8% of the total Bitcoin supply. At current prices, its unrealized gains reach as high as $21 billion, equivalent to a daily "earnings" of $11.5 million (calculated over 3 years). This "Bitcoin Treasury Experiment" that began in 2020 has transformed the software company into the world's largest crypto asset trader.

2. Cross-industry players flock to get on board

• Japanese streetwear brand ANAP

The subsidiary has launched a "Bitcoin business", incorporating digital assets into its financial strategy core;

• UK-listed company Anemoi

Decisively convert 30% of cash reserves into Bitcoin, performing a "cross-border counterattack" in the traditional industry.

• Belgravia Capital Canada

Complete your first Bitcoin investment and join the enterprise-level "coin hoarding" camp.

According to CoinGecko data, in 2025, only Chinese mainland enterprises will purchase three times the new supply**, and the total number of bitcoin holdings of global listed companies will exceed 1.5 million, and a "corporate coin holding race" has become white-hot.

Why Do Companies Go "All in" on Bitcoin?

1. Financial Self-Rescue: From "Predicament" to "Gambling"

At a time when traditional industries are struggling with growth, Bitcoin has become the "nuclear button" for companies to break through. Take the clothing giant DDC as an example, its $500 million Bitcoin plan directly stimulated a 25% surge in stock prices, achieving immediate results in market value management. This flywheel effect of "buying coins → stock price increase → financing → buying coins again" has made countless companies willing to take risks for a chance at success.

2. Hedging Strategies Under the Crisis of Dollar Hegemony

The advancement of the U.S. "Digital Fort Knox" plan and Brazil's Sovereign Bitcoin Reserve Bill confirms the global trust crisis in the dollar system. Companies are using Bitcoin to hedge against geopolitical risks and inflation pressures, as Microsoft founder Bill Gates stated: "Bitcoin will redefine the future of currency."

3. The Underlying Currents of the Stablecoin Payment Revolution

Coinbase's latest report reveals another trend: Fortune 500 companies are 3-fold more willing to use stablecoins. 7% of the giants have secretly laid out, trying to subvert traditional financial channels with instant settlement and low-cost cross-border payment. This two-line battle of "Bitcoin investment + stablecoin application" is reconstructing the logic of corporate asset allocation.

Who is harvesting? Who is swimming naked?

1. The "Liquidity Trap" Controlled by Whales

When institutions like Strategy control over 5% of Bitcoin circulation , the market has entered the "Whale Dominance" era. The massive volume of 582,000 Bitcoins means that any sell-off action could trigger a cascading drop. However, MicroStrategy CEO Michael Saylor's "never sell" declaration seems more like a capital conspiracy to hold the market hostage.

2. Regulatory Sword Hanging High

The policies such as Mainland China not recognizing the legality of Bitcoin and South Korea prohibiting companies from holding coins cast a shadow over corporate investments. The $1.5 billion theft incident at Bybit in 2025 serves as a wake-up call - hacker attacks and technical vulnerabilities could cause corporate wealth to vanish at any time.

3. Stock Price Bubble and Value Divergence

The stock price frenzy of cross-border players like ANAP and Anemoi is essentially a short-term speculation on the "Bitcoin concept." Once market sentiment reverses, these companies, lacking substantial business support, will be the first to suffer. As short-selling master Jim Chanos warns: "This is nothing but a speculative frenzy dressed in technological clothing."

Will Bitcoin Devour the World?

1. National Sovereignty Get on Board Catalyst

The 200,000 Bitcoin strategic reserves of the United States and Brazil's $18.3 billion sovereign coin purchase plan mark the official entry of national power. If more governments join, Bitcoin may upgrade to a new Bretton Woods system of the digital age.

2. The technological revolution gives rise to a new ecosystem

The maturity of the Lightning Network and smart contracts has evolved Bitcoin from "digital gold" to payment infrastructure. Corporate coin purchases are not just investments, but also pave the way for participation in decentralized finance (DeFi).

3. Life and Death Game: Institutions VS Retail Investors

When the amount of coins held by enterprises breaks the threshold, Bitcoin may completely become an "institutional playground." Ordinary investors either catch a ride on the coattails or are swallowed by the turbulent waves stirred up by the Whales.

From the $21 billion unrealized gains myth of Strategy to the cross-industry gamble of ANAP and Anemoi, the corporate coin-buying frenzy is pushing Bitcoin to the crossroads of the "institutional era." In this feast, some see the dawn of a technological revolution, some smell the blood of capital manipulation, while more are still searching for answers in the fog. The only certainty is that when the traditional world collides fiercely with the crypto civilization, Bitcoin is no longer a geek's toy, but a nuclear-powered engine reshaping the global financial landscape.