TLDR
- Bitwise reported that 48 new companies added Bitcoin to their treasuries in the third quarter.
- The number of public companies holding Bitcoin rose by 38 percent between July and September.
- Total corporate Bitcoin holdings crossed one million coins, representing nearly 4.87 percent of the total supply.
- The combined value of all corporate Bitcoin treasuries reached $117 billion by the end of the quarter.
- Strategy remains the largest corporate holder with 640,250 Bitcoins as of early October.
Between July and September, 48 new Bitcoin treasuries emerged, according to Bitwise’s latest Q3 Corporate Bitcoin Adoption report. The number of public companies holding Bitcoin jumped by 38%, reaching 172 firms. Total corporate Bitcoin holdings now exceed $117 billion and have crossed one million coins.
New Entrants Signal Strong Institutional Momentum
Bitwise confirmed that 48 companies joined the list of Bitcoin treasuries in Q3, highlighting continued institutional interest in the cryptocurrency. The firm cited BitcoinTreasuries.NET data, which showed an increase from 124 to 172 companies. This represents a 38% rise in just three months.
There are almost 40% more public companies holding bitcoin today than there were 3 months ago.
Companies Are Buying Bitcoin, Q3 2025 Edition: pic.twitter.com/R6m1kyaP0H
— Bitwise (@BitwiseInvest) October 14, 2025
Bitwise CEO Hunter Horsley described the growth as
“absolutely remarkable,” emphasizing that “people want to own Bitcoin. Companies do too.”
He stated that institutional investors are making deliberate moves into digital assets. Horsley added that the scale of corporate entry indicates long-term strategic positioning.
Absolutely remarkable. In Q3 alone:
1. The number of public corporations that own BTC increased 38%
2. The amount of BTC these 172 pub cos own increased 20% to over 4.8% of all Bitcoin
People want to own bitcoin. Companies do too. https://t.co/pL2vjTtBIs
— Hunter Horsley (@HHorsley) October 14, 2025
These Bitcoin treasuries now hold more than 1 million coins, representing 4.87% of the total supply. This trend shows corporate adoption is accelerating rather than slowing. Analysts interpret this behavior as a long-term commitment to the asset class.
Bitcoin Treasuries Show Strong Institutional Growth
Michael Saylor’s Strategy remains the largest among Bitcoin treasuries, now holding 640,250 BTC as of October 6. Crypto mining firm MARA Holdings follows, with 53,250 BTC after a recent increase in its reserves. These holdings continue to grow as companies accumulate coins through over-the-counter channels.
Rachael Lucas from BTC Markets explained that such purchases help avoid slippage and limit price disruptions in spot markets. She said,
“They’re not chasing short-term gains. They’re making a long-term decision on digital assets.”
That shows precise strategic alignment within corporate treasury frameworks.
Lucas also noted that these Bitcoin treasuries reflect broader confidence in the asset’s institutional role. Participation from sovereigns and regulated firms supports the maturing infrastructure surrounding crypto adoption. Demand continues to build even as prices fluctuate.
Demand Outpaces Supply as ETFs Gain Ground
Bitwise reported that companies now acquire an average of 1,755 BTC daily, while miners produce only around 900 BTC each day. Edward Carroll of MHC Digital Group stated that this imbalance will likely place upward pressure on prices. He expects institutional interest to expand steadily over the coming years.
Carroll added that Bitcoin treasuries are still in the early phases of growth. Yet the rising pace suggests continued accumulation, despite macroeconomic volatility. He believes long-term demand will remain consistent and organized.
Meanwhile, U.S. spot Bitcoin ETFs have contributed $2.71 billion in inflows during the first week of October. Lucas pointed out that these products give traditional investors regulated access to Bitcoin exposure. She said it marks “a significant shift” and reflects the rising legitimacy of the financial sector.
