A Fidelity analyst argues that Bitcoin is still in the middle of its adoption curve, despite recent price increases . Jurrien Timmer, Director of Global Macro at Fidelity Investments, compared Bitcoin's growth trajectory to the internet's adoption curve from past decades .
According to Timmer, “Bitcoin continues to follow both the Power Law curve of its wallets as well as my demand model based on the internet adoption curve. We are right in the middle,” . The analysis suggests that the current price action, marked by steady stair-step patterns of new highs followed by consolidation phases, still reflects a maturing, not saturated, asset class .
Furthermore, the number of public companies holding BTC has risen to 125 . These firms collectively hold 847,000 BTC, valued at approximately $91 billion . Crypto digital asset investment products recently recorded their second-largest weekly inflow, with $3.7 billion . This pushed total assets under management (AUM) across crypto products to an all-time high of $211 billion, with Bitcoin-backed products accounting for $179.5 billion .
Electric powersports company Volcon has become the latest public firm to adopt a Bitcoin treasury strategy . On July 17, the company announced a $500 million private placement, with 95% of proceeds earmarked to acquire Bitcoin .
Beyond corporate treasuries, Bitcoin's surge to new all-time highs above $123,000 has also attracted fresh investors . First-time BTC buyers accumulated over 140,000 BTC in just the past two weeks, boosting their total holdings by 2.86%, from 4.77 million to 4.91 million BTC .
Fidelity Digital Assets predicted that more sovereign states will adopt a Bitcoin strategic treasury in 2025 . Fidelity Digital Assets research analyst Matt Hogan said that not making any Bitcoin allocation could become more of a risk to nations than making one .