Blockware Intelligence predicts that by the top of 2025, not less than 36 extra public corporations may have added Bitcoin to their steadiness sheets.
“That is only the start. Within the subsequent 6 months, we anticipate not less than three dozen extra public corporations so as to add Bitcoin to their treasury,” Blockware mentioned in its Q3 2025 market replace report. This may signify round a 25% enhance from the present whole of 141 public corporations holding Bitcoin (BTC), in accordance with the agency’s knowledge.
Public firm Bitcoin adoption surges 120% in 2025
The intelligence unit, which is the analysis arm of Bitcoin mining firm Blockware Options, reported that in 2025 alone, the variety of publicly traded corporations holding Bitcoin on their steadiness sheets surged 120%. “Bitcoin Treasury Corporations are the aforementioned ‘bridge’ connecting fairness and debt markets to Bitcoin,” the agency added.
In keeping with BitcoinTreasuries.internet knowledge, Michael Saylor’s Technique leads the pack with 597,325 BTC, holding roughly 12 occasions greater than the second-largest holder, Bitcoin mining agency MARA Holdings, which has 50,000 BTC.
Nevertheless, Blockware mentioned that the growing variety of corporations becoming a member of the ranks is both newly established or dealing with operational challenges.
“The company Bitcoin adoption race is generally being spearheaded by model new corporations or dying corporations you’ve by no means heard of.”
Blockware mentioned this isn’t essentially a destructive. “Corporations with struggling core companies (low development, dying markets) have a a lot simpler time recognizing the simplicity of investing retained earnings into BTC and incomes 40 to 60% CAGR with out the operational dangers of working a enterprise,” Blockware mentioned.
Analyst warns corporations contemplating Bitcoin
“The market is sending a robust sign: securitized Bitcoin publicity is right here to remain,” the agency added.
Bitwise Asset Administration not too long ago reported that company curiosity in Bitcoin reached new highs within the second quarter of 2025, with corporations including a file 159,107 BTC to their steadiness sheets.
Nevertheless, not everyone seems to be optimistic in regards to the important variety of corporations adopting Bitcoin.
Glassnode lead analyst James Verify not too long ago warned that the simple upside might already be behind new corporations getting into the area.
Associated: Bitcoin value prone to hit $130K earlier than critical revenue taking kicks in
“My intuition is the Bitcoin treasury technique has a far shorter lifespan than most anticipate,” Verify mentioned on July 4.
On June 29, enterprise capital agency Breed argued in a report that just a few Bitcoin treasury corporations will stand the check of time and keep away from the vicious “demise spiral” that can impression BTC holding corporations that commerce near internet asset worth (NAV).
In the meantime, crypto dealer Saint Pump mentioned in a publish on X that “I’m additionally fairly assured they’ll play a key position within the subsequent bear market.”
“The music stops when the NAV premium begins to slowly fall (and even flip destructive with ATMs), and raises develop into smaller or fail altogether,” the dealer added.
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