Corporate Bitcoin Adoption to Surge 25% by 2025

Blockware Intelligence, the research arm of a Bitcoin mining company, has forecasted that by the end of 2025, at least 36 more public companies will add Bitcoin to their balance sheets. This projection represents a 25% increase from the current total of 141 public companies holding Bitcoin. The firm's Q3 2025 market update report highlights that this trend is being driven by both newly established companies and those facing operational challenges. According to Blockware, these companies find it easier to invest retained earnings into Bitcoin, earning a compound annual growth rate (CAGR) of 40 to 60% without the operational risks associated with running a business.

The surge in corporate Bitcoin adoption is not without its critics. Glassnode lead analyst James Check recently warned that the easy upside for new companies entering the Bitcoin treasury space may already be behind them. Check's sentiment is echoed by a venture capital firm, which argued in a report that only a few Bitcoin treasury companies will stand the test of time and avoid the "death spiral" that could impact companies holding Bitcoin that trade close to net asset value (NAV). A crypto trader also expressed concerns, stating that the "music stops when the NAV premium starts to slowly fall (or even turn negative with ATMs), and raises become smaller or fail altogether."

Despite these warnings, the trend of corporate Bitcoin adoption continues to gain momentum. According to data, Michael Saylor’s Strategy leads the pack with 597,325 BTC, holding approximately 12 times more than the second-largest holder, a Bitcoin mining firm, which has 50,000 BTC. Over the past 30 days, there has been a 2.43% uptick in Bitcoin treasury holdings, further solidifying the growing interest in Bitcoin among public companies.

Blockware's prediction aligns with the broader trend of increasing corporate interest in Bitcoin. A recent report highlighted that corporate interest in Bitcoin reached new highs in the second quarter of 2025, with companies adding a record 159,107 BTC to their balance sheets. This surge in adoption is seen as a bridge connecting equity and debt markets to Bitcoin, according to Blockware. The firm emphasized that securitized Bitcoin exposure is here to stay, indicating a long-term shift in corporate investment strategies towards digital assets.