River: Bitcoin Adoption Reaches New Heights Despite Price Decline
According to River, Bitcoin experienced explosive adoption growth throughout 2025, solidifying its position as a mature investment vehicle, despite the cryptocurrency's price dropping 50% from its October high.
Throughout 2025, Bitcoin witnessed explosive growth in adoption across institutions, financial institutions, retailers, publicly traded corporations, and sovereign nations, notwithstanding the recent decline in market value, according to financial services firm River.
In a Tuesday report, River declared "There is no bear market in Bitcoin adoption," highlighting that although Bitcoin (BTC) has declined 50% from its all-time high, "adoption is compounding in ways that aren't affecting the price, yet."
The company stated that "Trust in Bitcoin has grown faster than that of any asset in history," adding that "What began as an experiment is now a globally recognized store-of-value, with adoption patterns that rival the internet."
Growth in institutional, banking, and corporate adoption
According to River's findings, institutional players amassed 829,000 BTC throughout 2025, encompassing acquisitions by corporations, governmental entities, investment funds, and exchange-traded funds.
River noted that registered investment advisors have maintained net purchases of BTC for eight consecutive quarters and have allocated approximately $1.5 billion to Bitcoin ETFs each quarter during the past two years.
The firm emphasized that these institutional investors represent "millions of underlying individuals" who are obtaining Bitcoin exposure for the first time via brokerage accounts, pension plans, sovereign wealth funds, and corporate treasury holdings.
Furthermore, 60% of America's largest banks are developing Bitcoin-related products. River stated that "With a favorable regulatory environment in the US, banks can now custody Bitcoin and offer Bitcoin products to their customers."
Corporate entities emerged as the dominant BTC purchasers in 2025, with the majority of these acquisitions stemming from crypto treasury companies, as adoption among such organizations expanded by 2.5 times during the previous year.
Payment adoption and merchant acceptance gain momentum
Merchant acceptance experienced significant expansion, with American businesses accepting Bitcoin for payments increasing threefold, while worldwide adoption expanded by 74% throughout 2025, according to the report.
Lightning Network Bitcoin payments expanded by 300% in 2025, and based on River's calculations, the network is currently facilitating more than $1.1 billion in transaction volume each month.
During 2025, five nation-states joined the ranks of Bitcoin holders, including acquisitions from two sovereign wealth funds located in Luxembourg and Saudi Arabia, and one central bank in the Czech Republic. Brazil and Taiwan comprised the remaining two.
River's estimates indicate that a total of 23 nation-states possess Bitcoin through government-sponsored mining operations, asset seizures, or central bank holdings.
Volatility in Bitcoin continues to decrease
According to River, Bitcoin's price volatility continues its downward trajectory, approaching levels comparable to gold and the S&P 500, demonstrating that the asset is "increasingly viewed as a mature asset class."
The firm explained that "As volatility falls, the hurdle for more risk-averse investors declines," adding that "Over time, that opens the door to larger pools of capital."
River further emphasized that Bitcoin's foundation rests on trust, asserting it functions as the planet's "only scarce and incorruptible form of digital money."
"We expect that in the coming years, Bitcoin adoption will not only continue its current trend, but meaningfully accelerate."