Business customers, mainly small and medium -sized businesses, account for between 10% and 15% of all assets under custody at Mercado Bitcoin, Brazil’s largest crypto exchange, according to Daniel Cunha, the company’s manager of business development.
“These companies hardly move more than 10% of their inventories at all times,” Cunha told Coindesk in an interview at Exchange’s DAC 2025 conference. “They are here to keep, not act.”
Companies are primarily using Bitcoin to protect their cash reserves from global volatility, he said, citing growing concerns about inflation, currency enhancement and geopolitical instability.
The trend grew when companies such as Strategy (MSTR) began to adopt Bitcoin as a corporate school asset. Strategy now owns 639,835 BTC, making it the world’s largest business owner of cryptocurrency. Public traded companies, as a whole, hold over 1 million BTC, but how very small and medium -sized businesses are unknown.
Cunha did not reveal the exact figures that these companies had on Mercado Bitcoin. Brazil has a history of adoption of cryptocurrency that ranks fifth in Chainalyses’ Global Crypto Adoption Index, yet it has only a publicly traded company holding BTC, Méliuz. Oranjebtc is set to list the Brazil’s B3 exchange soon to become the country’s largest listed business owner of Cryptocurrency with $ 400 million in its Treasury.
Cunha said these companies do not hunt benefits or experiment with Altcoins, but rather focuses on BTC and stablecoins like USDT and USDC to control their treasuries. These possessions serve conservative, cash control purposes rather than speculative acting.
The increase in institutional activity also has a side effect: It reduces the overall volatility of crypto markets, Cunha said. That makes Bitcoin a more appealing opportunity for treasurer, even the Asthe Enterprise segment in Brazil has still just begun to adopt crypto.
“The big guys in Faria Lima? They’re on the sidelines,” he said, referring to the Financial District in Brasil’s largest city of São Paulo often compared to Wall Street. “They haven’t moved yet. It’s all waiting to happen.”
