The Growing Wave of Corporate Bitcoin Adoption

This year has witnessed a remarkable increase in the number of public corporations investing in Bitcoin. According to insights from Blockware Intelligence, the count of public enterprises holding Bitcoin soared by 120% in 2025 alone. This significant rise brought the total to 141 companies, with projections suggesting at least 36 more will incorporate Bitcoin into their financial portfolios by the end of 2025. Such an addition would signify a 25% increase from current figures.

Expanding Circle of Bitcoin Treasury Companies

Blockware’s Q3 2025 market analysis indicates that approximately 36 new players might join the ranks of “Bitcoin Treasury Companies” in the upcoming six months. These entities serve as vital conduits between the conventional financial markets and the burgeoning crypto ecosystem. In the first half of this year, businesses, regardless of their size, collectively acquired over 159,107 BTC, marking an unprecedented milestone in corporate crypto acquisition.

Dominant Figures in Corporate Bitcoin Holdings

Leading the vanguard is Michael Saylor, a prominent crypto enthusiast and a favored figure of former US President Donald Trump. His company, Strategy, boasts an extraordinary reserve of 597,325 BTC. This amount is approximately twelve times the Bitcoin inventory held by MARA Holdings, which ranks second with around 50,000 BTC. Together, these two giants possess the majority of Bitcoin held by public entities.

Potential Risks for New Entrants

According to Blockware, many recent participants are either newly established companies or those grappling with challenging business scenarios. For these firms, investing in Bitcoin, with its estimated 40 to 50% compound annual growth rate, might seem more attractive than struggling with a declining business. However, this strategy is not without its inherent risks.

Warning Signs for Corporate Bitcoin Expansion

James Check, Glassnode’s chief analyst, cautioned on July 4 about the diminishing easy gains for latecomers. Venture capital firm Breed highlighted a potential “death spiral” risk for companies trading near their net asset value. Several crypto traders share this sentiment, anticipating that these companies will face challenges in the forthcoming bear market, particularly if NAV premiums begin to drop.

Despite these warnings, the shift towards Bitcoin remains significant. Larger, financially robust companies are likely to endure market fluctuations better than their smaller counterparts. Investors and analysts are keenly observing how these corporate treasuries perform during market downturns. If premiums remain stable, new participants might sustain the momentum. Conversely, some balance sheets could encounter turbulent times.