Blockware Intelligence predicts that by the top of 2025, at the very least 36 extra public corporations can have added Bitcoin to their stability sheets.

“That is just the start. Within the subsequent 6 months, we count on at the very least three dozen extra public corporations so as to add Bitcoin to their treasury,” Blockware mentioned in its Q3 2025 market replace report. This may symbolize round a 25% improve from the present whole of 141 public corporations holding Bitcoin (BTC), based on the agency’s information.

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 stability sheets surged 120%. “Bitcoin Treasury Firms are the aforementioned ‘bridge’ connecting fairness and debt markets to Bitcoin,” the agency added.

In response to BitcoinTreasuries.web information, 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.

Over the previous 30 days there was a 2.43% uptick in Bitcoin treasury holdings. Supply: Bitcointreasuries.web

Nevertheless, Blockware mentioned 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 mentioned this isn’t essentially a unfavourable. “Firms with struggling core companies (low progress, 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 operating a enterprise,” Blockware mentioned.

Analyst warns corporations contemplating Bitcoin

“The market is sending a powerful sign: securitized Bitcoin publicity is right here to remain,” the agency added.

Bitwise Asset Administration 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 stability sheets.

Nevertheless, not everyone seems to be optimistic concerning the vital variety of corporations adopting Bitcoin.

Glassnode lead analyst James Test lately warned that the straightforward upside could already be behind new corporations coming into the area.

Associated: Bitcoin value 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,” Test mentioned on July 4.

On June 29, enterprise capital agency Breed argued in a report that only some Bitcoin treasury corporations will stand the check of time and keep away from the vicious “demise spiral” that may impression BTC holding corporations that commerce near web 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 unfavourable with ATMs), and raises develop into smaller or fail altogether,” the dealer added.

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