Public companies around the world are loading Bitcoin this year. According to Blockware Intelligence, the number of public companies holding Bitcoin increased by 120% in 2025.
That surge brought a total to 141 companies. And by the end of 2025, at least 36 people are expected to add Bitcoin to their balance sheets. It represents a 25% boost from today’s numbers.
Rising corporate Bitcoin adoption
Based on reports from Blockware’s third quarter market update, three dozen new entrants have been able to join the so-called “Bitcoin finance company” over the next six months. These companies act as a bridge between traditional markets and the crypto world.
In the first half of the year, businesses, large and small, added over 159,107 BTC to their books, setting a new record for corporate crypto purchasing.
Source: Blockware
Big Names still lead the pack
The top spot remains in the strategy of President Donald Trump’s favorite code supporter Michael Saylor. It holds an incredible 597,325 BTC.
That figure is around 50,000 BTC, about 12 times the number one owned by second-placed Mara Holdings. These two are the only people who make up most of the bitcoin held by public companies.
Some players may be taking risks
Blockware points out that many newcomers are either brand new businesses or companies facing tough business challenges.
For businesses in low- or reduced markets, parking cash in Bitcoin at a combined annual growth rate of an estimated 40-50% is more attractive than running a struggling operation. However, that choice comes with its own risks.
Source: Blockware
Corporate Bitcoin Growth Faces Warning Signs
GlassNode lead analyst James Check sounded the alarm on July 4th, warning that the easy benefits for Latecomers may already be gone. Venture Firm Breed outlined the “death spiral” risks for companies that are close to their net asset value.
Some crypto traders said that reflecting their views, these companies will be tested in the next bare market.
For now, the move towards Bitcoin is very realistic. Large and capable companies can experience higher and lower ups and downs than smaller players.
Investors and analysts are watching these Treasury developments as the market cools down. If premiums are retained, new entrants can continue to gain momentum. Otherwise, some balance sheets can face rough rides.
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