The corporate Bitcoin adoption race is “mostly being spearheaded by brand new companies or dying companies you’ve never heard of,” says Blockware.
Blockware Intelligence predicts that by the end of 2025, at least 36 more public companies will have added Bitcoin to their balance sheets.
“This is just the beginning. In the next 6 months, we expect at least three dozen more public companies to add Bitcoin to their treasury,” Blockware said in its Q3 2025 market update report. This would represent around a 25% increase from the current total of 141 public companies holding Bitcoin (BTC), according to the firm’s data.
The intelligence unit, which is the research arm of Bitcoin mining company Blockware Solutions, reported that in 2025 alone, the number of publicly traded companies holding Bitcoin on their balance sheets surged 120%. “Bitcoin Treasury Companies are the aforementioned ‘bridge’ connecting equity and debt markets to Bitcoin,” the firm added.
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