According to Cryptoslate, in the first half of this year, listed companies purchased 245510 BTC, more than double the 118424 BTC of ETFs during the same period. The number so far this year has increased by 375% compared to the 51653 BTC purchased by enterprises in the first half of 2024. In contrast, the amount of BTC purchased by ETFs decreased by 56% compared to the same period last year. This may indicate that companies are no longer viewing Bitcoin as a speculative investment, but rather as a working capital reserve or long-term financial asset. The board of directors cited inflation hedging, cross-border liquidity, and the fit between brand and digital finance as reasons for purchasing Bitcoin.