From Speculation to Everyday Money: Navigating Bitcoin Spending in 2025

Bitcoin has evolved from a niche experiment to a widely accepted means of payment. In 2025, businesses and payment platforms globally recognize and accept Bitcoin as a form of payment. Daily spending is seamless through direct merchant adoption, lightning payments, and crypto debit cards. Online platforms, retail outlets, and travel services are integrating Bitcoin as a payment option, and peer-to-peer transfers and remittances remain strong use cases due to speed and lower fees. However, users should weigh fees, volatility, and tax considerations when spending Bitcoin.

Bitcoin has transitioned from a speculative curiosity to a strategic corporate treasury asset, as validated by MicroStrategy's legal victories and regulatory clarity. In 2025, Bitcoin's role as an inflation hedge and inclusion in ETFs like BlackRock's IBIT has diversified institutional exposure, reducing liquidity risks. Over 161 public companies now hold Bitcoin as treasury assets, driven by fiat devaluation and low-interest-rate environments.

MicroStrategy's 2025 legal victory marked a pivotal moment, dismissing a class-action lawsuit challenging its use of FASB's ASU 2023-08 accounting standard. This ruling underscored the importance of regulatory frameworks like the CLARITY Act, which seeks to classify digital assets and standardize reporting [1]. The SEC's Project Crypto further reinforces this trend by prioritizing transparency in crypto disclosures, aligning with institutional demands for accountability [1].

MicroStrategy's 2025 IPO of Variable Rate Series A Perpetual Preferred Stock (STRC) raised $2.521 billion, immediately used to acquire 21,021 BTC, swelling its holdings to 628,791 BTC ($71.2 billion) by July 2025 [2]. This liquidity-driven strategy leverages a capital stack of perpetual preferred stocks, convertible debt, and ATM programs to fund indefinite Bitcoin accumulation. The company's Bitcoin-per-Share (BPS) metric rose 25% year-to-date, while its net asset value (NAV) premium hit 112%, reflecting investor confidence in its model [3].

Critics highlight risks such as equity dilution and forced Bitcoin sales during downturns to cover annual perpetual dividend obligations [3]. However, the company's mNAV-based issuance discipline mitigates these risks by ensuring equity is only issued when justified by Bitcoin's net asset value [1]. Additionally, Bitcoin's role as an inflation hedge and its inclusion in spot ETFs like BlackRock's IBIT ($132.5 billion AUM) have diversified institutional exposure, reducing liquidity constraints [1]. For long-term investors, the potential for Bitcoin to reach $150,000 by 2026 justifies the current risk profile [2].

MicroStrategy's strategy has catalyzed a broader trend: over 161 publicly traded companies now hold Bitcoin as a treasury asset [1]. This shift is underpinned by macroeconomic factors, including the devaluation of fiat currencies and the search for yield in a low-interest-rate environment. The company's rebranding to "Strategy" and its dual focus on Bitcoin and AI innovation further position it as a blueprint for future corporate capital allocation [3].

For investors, the strategic case for Bitcoin in corporate treasuries is clear. MicroStrategy's legal victories and IPO-driven liquidity demonstrate a scalable model for institutional adoption, while its disciplined accumulation strategy balances growth with risk management. Exposure to MSTR or BTC itself offers a unique opportunity to capitalize on Bitcoin's evolving role in global finance. As regulatory clarity and macroeconomic tailwinds converge, the risk-adjusted returns of Bitcoin as a corporate asset are no longer speculative—they are a proven reality.

References:
[1] https://www.ainvest.com/news/strategic-case-bitcoin-corporate-treasury-asset-2025-2509/
[2] https://www.strategy.com/press/strategy-announces-closing-of-2-point-521-billion-STRC-stock-initial-public-offering_07-29-2025
[3] https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-deconstructing-strategy-mstr-premium-leverage-and-capital-structure/