When Bitcoin's price dropped and sentiment hit the floor in February 2025, most people expected adoption to slow. River's numbers told a completely different story… their highest volume month ever. In this episode, we sit down with Ben Epling, Relationship Manager at River, to unpack what's actually driving Bitcoin adoption behind the scenes at the individual, business, and institutional level.
Ben shares exclusive internal data points from River's latest research report, revealing a striking ownership shift: individuals were net sellers while institutions, businesses, and governments quietly accumulated. We explore why 63% of businesses on River plan to hold Bitcoin indefinitely, what's truly blocking business adoption (spoiler: it's the CPA), and how River's white glove service, clean tax reporting, and proof of reserves are setting the standard for what a trusted Bitcoin financial institution should look like. We close out with a look at River's vision for the dual currency era — direct deposit, bill pay, and making a Bitcoin standard more practical than ever for everyday businesses and their advisors.
Chapters
(00:00:00) - Introduction & Ben's Bitcoin Origin Story
(00:05:42) - How Ben Got to River & His Role in Relationship Management
(00:11:21) - River's Latest Research: Institutions vs. Individual Bitcoin Ownership
(00:15:59) - Why Individuals Have Been Net Sellers This Cycle
(00:21:13) - Business Bitcoin Adoption: Who's Buying & Why
(00:24:43) - What the RIA Landscape Actually Looks Like on Bitcoin
(00:28:16) - The #1 Reason Businesses Push Back on Bitcoin (Accounting)
(00:31:20) - How River Solves Cost Basis Tracking & Tax Reporting
(00:36:39) - Why River Stays Bitcoin Only & Focused
(00:42:26) - River's Record February: Volume, Custody & Interest Data
(00:45:57) - The Coinbase Breach, Security Culture & White Glove Service
(00:52:32) - Direct Deposit, Bill Pay & the Dual Currency Era
(00:55:29) - How River Works With Financial Advisors & CPAs
Guest Links
Ben Epling, Relationship Manager at River
X: @benepling
River Website: https://river.com
Host Links
Jordan Guess:
X: / jordanguess
Discord: / discord
Wyatt O'Rourke:
X: / wyattorourke_
Website: https://www.basilic.io/
Bitcoin for Financial Services Media Links:
X: / bffs_media
Website: https://bffs.media/
YouTube: / @bffs_media
Check out our awesome show sponsors!
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Satoshi Pacioli: Run a Bitcoin business? Meet your full-service accounting and tax partner built for the Bitcoin economy. Satoshi Pacioli handles bookkeeping, financial reporting, tax compliance, and strategic planning for companies and individuals. Work with advisors who speak Bitcoin and keep you compliant while building long-term value. (Link: https://satoshipacioli.com/)
