According to a new forecast from Bernstein, Bitcoin could see a surge of $330 billion in corporate treasury inflows by 2029 as businesses increasingly adopt the cryptocurrency for strategic asset allocation.

The investment firm’s report highlights that major corporations are expected to follow in the footsteps of early adopters like MicroStrategy, which has led the charge in accumulating Bitcoin as part of its corporate treasury strategy. Bernstein anticipates that MicroStrategy alone will contribute a significant portion of the predicted inflows, potentially adding billions to its holdings in the coming years.

With growing concerns over inflation and currency devaluation, Bitcoin has become a popular choice for companies seeking to diversify their treasury assets. Bernstein credits favorable regulatory developments in the U.S., which have made it easier for firms to purchase and hold Bitcoin, as a major driver behind this trend.

The report suggests that by 2029, corporate purchases of Bitcoin will total approximately $330 billion, with other firms expected to collectively contribute around $205 billion. This influx of capital could further cement Bitcoin’s role as a global digital asset class, with more institutional investors and public companies using it as a hedge against economic volatility.

Currently, public companies hold a combined 720,000 BTC, or about 2.4% of Bitcoin’s total circulating supply. Bernstein’s projections indicate that this figure will rise significantly as more corporations follow the lead of MicroStrategy and other industry pioneers.

Despite the inherent risks associated with cryptocurrency, Bitcoin’s growing mainstream acceptance and the backing of corporate treasuries could continue to drive demand and increase its market value over the next several years.