Between July and September 2025, 48 public companies added Bitcoin to their balance sheets, lifting the total to 172, signaling renewed momentum in corporate crypto adoption, according to Bitwise.
Key Takeaways:
- The count of public companies with Bitcoin treasuries jumped 38% in Q3 2025, adding 48 new entrants.
- Cointelegraph reports total corporate Bitcoin holdings now exceed 1 million BTC, valued at approximately $117 billion, a ~28% increase quarter-on-quarter.
- Strategy (Michael Saylor’s firm) remains the top holder with ~640,250 BTC; next is MARA with ~53,250 BTC.
According to Bitwise’s latest Corporate Bitcoin Adoption report, the number of publicly traded firms holding Bitcoin on their balance sheets surged by 38% during the third quarter of 2025. From July through September, 48 new companies joined the list, bringing the total count to 172.
This wave of adoption pushed total corporate holdings past 1 million BTC, accounting for nearly 4.9% of the total supply. At current market prices, that represents approximately $117 billion in value, resulting to a rise up to 28% from the previous quarter.
Corporate Bitcoin treasuries surged in Q3 2025, with public companies now holding over 1 million BTC. Source: Bitwise
Meanwhile, Strategy (formerly MicroStrategy), chaired by Michael Saylor, is still leading the pack, with roughly 640,250 BTC. The next largest holder, MARA Holdings, owns around 53,250 BTC, according to Bitwise and BitcoinTreasuries.NET.
The momentum of Bitcoin accumulation is described by Hunter Horsley, CEO of Bitwise, as “absolutely remarkable,” emphasizing that institutional demand continues to accelerate despite volatility in crypto markets.
People want to own Bitcoin. Companies do too, Horsley said in a recent post.
Analyst Reactions Signal Growing Institutional Confidence
Market analysts view the data as a strong indication that companies are increasingly treating Bitcoin as a long-term strategic asset rather than a speculative play.
Rachael Lucas, an analyst at BTC Markets, told CoinTelegraph that “larger players are doubling down, not backing away,” adding that the rise of publicly listed crypto holders marks a turning point for corporate participation.
This trend mirrors earlier adoption cycles but stands out for its speed and scale. Analysts suggest that the spread of crypto-friendly accounting standards, coupled with the performance of Bitcoin ETFs, has lowered barriers for corporations to enter the market.
BTC Trades Steady Amid Institutional Inflows
As of this writing (9:15AM UTC), TradingView’s real-time market data shows Bitcoin (BTC) is trading at approximately $112,790, up 1.0% over the past 24 hours. The token peaked intraday highs near $113,537, and lows around $110,256, according to CoinGecko.
Although the increase in corporate accumulation has yet to trigger a major price rally, analysts believe consistent buying from public firms could add a stabilizing effect to Bitcoin’s market structure. Historically, such long-term holders tend to reduce circulating supply and dampen volatility.
What’s Next
The rise of 48 new Bitcoin treasuries in just three months underscores the ongoing institutionalization of crypto. With over a million BTC now held by public companies, corporate demand continues to shape the narrative around Bitcoin’s role as a modern reserve asset. As the market heads into 2026, continued transparency and regulatory support could determine whether this momentum transforms into a long-term cornerstone of global finance.
Summary
Public-company Bitcoin treasuries jumped 38% in Q3—48 new firms added BTC, bringing the total to 172 and pushing corporate holdings above 1M BTC (~$117B). Strategy leads with ~640,250 BTC; steady buy-side demand may stabilize price even without an immediate rally.
