While Bitcoin’s price has tumbled to nearly half of its historic peak, adoption rates show a striking upward trend. According to a new report by financial services firm River, 2025 is standing out as a pivotal year for Bitcoin, marked by a broad embrace from both institutional players and governments worldwide.
Institutions and Banks Rally Behind Bitcoin
River estimates that corporations and public entities collectively acquired 829,000 Bitcoins throughout the year. Leading this charge were company treasuries, exchange-traded funds, sovereign wealth funds, and governmental institutions. In the United States, registered investment advisors have been adding Bitcoin to portfolios for eight consecutive quarters, channeling an average of $1.5 billion each quarter into Bitcoin ETFs over the past two years.
The report points out that many of these investors are accessing crypto assets indirectly—often via brokerage services or retirement plans. River highlights a major shift within traditional finance as well, noting that 60% of America’s largest banks are now developing Bitcoin-focused products. Thanks to a more favorable regulatory landscape, banks have greater opportunities to offer Bitcoin custody solutions and introduce innovative crypto services to their clients.
Retail Uptake Surges and Lightning Network Gains Traction
The findings reveal that companies with crypto treasuries have more than doubled their Bitcoin purchases in 2025—expanding 2.5 times compared to previous years. The number of U.S. businesses accepting Bitcoin payments has tripled, and globally, the use of Bitcoin in payments has soared by 74%, signaling strong grassroots and retail adoption.
On the technology front, Bitcoin’s Lightning Network has seen remarkable growth. Payment volume conducted via Lightning has leapt 300%, surpassing $1.1 billion monthly. River attributes this surge to expanded infrastructure, alongside rising adoption from both companies and individual users integrating the network into their financial operations.
Governments Shift Their Stance on Bitcoin
The year has also seen notable moves among nations and government-affiliated entities in relation to Bitcoin. The report records that public funds from Luxembourg and Saudi Arabia have made direct Bitcoin acquisitions, while the Czech National Bank has joined their ranks. Brazil and Taiwan have also begun including Bitcoin in their official reserves. Altogether, 23 countries now maintain Bitcoin holdings through channels such as mining, asset seizures, or strategic reserve allocations.
Despite shifting market sentiment, River connects Bitcoin’s momentum to the early growth trajectory of the internet—pointing to enduring confidence in the digital asset across both high and low price cycles.
“There is no bear market in Bitcoin adoption,” the River report underscores.
Ultimately, the research emphasizes that, in spite of price swings and temporary declines, the underlying infrastructure and user trust in Bitcoin continue to advance. River underscores that Bitcoin is now cemented as a global store of value with growing adoption momentum at every level of the financial ecosystem.
