The corporate holdings of Bitcoin (BTC) have reached new heights in the third quarter of 2025. In a study conducted by Bitwise, 172 publicly traded companies now own a total of 1.02 million BTC, which is worth about $117 billion.
This figure is a nearly 40% increase in the number of companies that own Bitcoin, with 48 new companies entering the market in the past three months.
In the research, Bitwise also stated that the total amount of Bitcoin held by public companies surged by 21% since the last quarter. At the top is the Michael Saylor-led Strategy, holding over 640,250 BTC at the time of writing. Following closely is Marathon Digital Holdings (MARA), which has 53,000 BTC, and 21Shares (XXI) having 44,000 BTC.
Bitcoin’s growing adoption among public companies
The report shows that such treasury deals are becoming more common as businesses see Bitcoin as a strategic asset. It also indicates corporate Bitcoin holdings have grown every quarter since 2020, indicating that more and more institutions are adopting Bitcoin over time.
Bitwise’s report closely follows Deutsche Bank’s “Gold’s reign, Bitcoin’s rise: The future of central bank reserves,” a study highlighting Bitcoin’s growing dominance. The bank argued that just as gold was a bedrock in the 20th century, Bitcoin could play a similar role in modern times.