Public Companies Are Hoarding Bitcoin – And It’s Just Getting Started

Blockware Intelligence predicts at least 36 additional public companies will add Bitcoin to their balance sheets by the end of 2025, in line with the continued institutional adoption of the cryptocurrency. 

This forecast aligns with the 120% surge in corporate adoption in 2025, due to strategic treasury diversification. As of July 14, 2025, between 148 and 180 public companies hold Bitcoin, with high Q2 purchases showing strong demand.

Corporate Bitcoin Holdings: Current State

As of July 14, 2025, data shows 148 public companies hold the crypto. Leading holders include Strategy, with 601,550 BTC, and MARA Holdings, with 50,000 BTC.

A total of 3.50 million BTC is owned and invested in Bitcoin Treasuries, with public companies owning 853,985 BTC as of July 14, 2025.

BTC Treasury holdings statistics (Source: Bitcoin Treasuries)

In Q2 2025, public companies acquired 131,355 BTC, increasing holdings by 18%, more than Bitcoin ETF growth at +8%, or 111,411 BTC for the third straight quarter. 

Figma, a tech firm, reported $69.5M in spot BTC ETFs, with board approval for an additional $30 million in buys.

Blockware’s Bold Call: 36 More Firms to Join BTC Treasury

Blockware Intelligence’s Q3 2025 market reports estimate at least 36 more public companies adopting the leading crypto by year-end, a 20–25% increase from the current 148, potentially reaching 184 companies. 

This prediction is supported by a 2.43% rise in BTC treasury holdings over the past 30 days. Blockware also predicts that low-growth or struggling companies could achieve around 40 to 60% compound annual growth rate (CAGR) by holding Bitcoin, without operational risks.

High Stakes, High Risks: The Challenges of Corporate Crypto

Market analyses caution that BTC treasury companies could face risks in a bear market, especially those trading near net asset value (NAV) or dependent on fundraising. 

Venture capital company Breed warned of potential “death spirals” for some companies, while Peter Schiff, posting on July 2, argued adoption remains concentrated among crypto-focused businesses, not yet mainstream. These risks point to the need for strategic risk and financial strategies.

Blockware’s prediction of 36 additional firms appears feasible, supported by the 120% adoption surge and institutional purchases, as 30% of BTC’s supply is now owned by institutions.