68% of SMBs Holding Bitcoin Can't See Their Full Position — Here's What That's Costing Them
Most businesses that hold Bitcoin think they have a treasury strategy — what they actually have is a collection of wallets. This benchmark report reveals how leading SMBs are structuring, reporting, and governing their Bitcoin positions in 2026, and where the dangerous gaps are hiding. With the regulatory landscape having shifted decisively in 2025, the businesses that close those gaps now will be the ones that compound the advantage — the ones that wait are already behind.
Most companies buying Bitcoin skip the hardest part: governance, reporting, and repeatability. The first allocation is easy. Making it systematic is where most teams stall.
Buying BTC isn’t the hard part. The hard part is governance, reporting, auditability, and making it repeatable across your organization. This benchmark explains how operators are building that operational layer.
What's inside
- Identify exactly which of the 6 benchmark tiers your current Bitcoin position falls into — and what separates you from the tier above
- Uncover the visibility gap that affects 68% of SMB holders and silently distorts every treasury decision you make
- See how best-in-class operators are structuring multi-wallet positions so they can report, govern, and move BTC without operational chaos
- Understand the three regulatory shifts from 2025 that changed what 'compliant Bitcoin treasury' actually means for your business
- Pinpoint the moment most SMB treasury operations stall — and the single structural fix that prevents it
Who this is for
Treasury operators
Already buying BTC via River, brokers, or internal processes
Founder-operators
Building treasury as part of company infrastructure
Get the full breakdown
Free benchmark. Includes the frameworks, data, and implementation steps.
Want to implement this at your company?
We're working with a small cohort of 20 businesses building Bitcoin treasury operations, from first allocation to automated workflows. Phase 2 is filling now.
If you're an operator ready to move past ad-hoc buying, we should talk.
Apply for the design partner cohort