Blockware Intelligence predicts that by the tip of 2025, a minimum of 36 extra public corporations could have added Bitcoin to their steadiness sheets.
“That is just the start. Within the subsequent 6 months, we count on a minimum of three dozen extra public corporations so as to add Bitcoin to their treasury,” Blockware stated in its Q3 2025 market replace report. This may signify round a 25% improve from the present whole of 141 public corporations holding Bitcoin (BTC), based on 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 accordance with BitcoinTreasuries.web knowledge, Michael Saylor’s Technique leads the pack with 597,325 BTC, holding roughly 12 instances greater than the second-largest holder, Bitcoin mining agency MARA Holdings, which has 50,000 BTC.
Nevertheless, Blockware stated that the rising variety of corporations becoming a member of the ranks is both newly established or going through operational challenges.
“The company Bitcoin adoption race is usually being spearheaded by model new corporations or dying corporations you’ve by no means heard of.”
Blockware stated this isn’t essentially a adverse. “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 stated.
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 just lately reported that company curiosity in Bitcoin reached new highs within the second quarter of 2025, with corporations including a report 159,107 BTC to their steadiness sheets.
Nevertheless, not everyone seems to be optimistic concerning the vital variety of corporations adopting Bitcoin.
Glassnode lead analyst James Verify just lately warned that the simple upside could already be behind new corporations getting into the area.
Associated: Bitcoin worth prone to hit $130K earlier than severe revenue taking kicks in
“My intuition is the Bitcoin treasury technique has a far shorter lifespan than most count on,” Verify stated on July 4.
On June 29, enterprise capital agency Breed argued in a report that only some Bitcoin treasury corporations will stand the take a look at of time and keep away from the vicious “dying spiral” that may influence BTC holding corporations that commerce near web asset worth (NAV).
In the meantime, crypto dealer Saint Pump stated 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 adverse with ATMs), and raises change into smaller or fail altogether,” the dealer added.
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