Public Companies Embracing Bitcoin Surge by 38% in Q3

The adoption of Bitcoin (BTC) as a treasury asset among publicly traded companies saw a remarkable 38% increase between July and September, as revealed in the “Q3 Corporate Bitcoin Adoption Report” from digital asset manager Bitwise. Major institutional players are not only holding onto their Bitcoin investments but are actively scaling up their positions, signaling a paradigm shift in the way corporations perceive the leading cryptocurrency.

As of October 15, new data from BitcoinTreasuries.net indicates that the number of public companies globally holding Bitcoin has climbed to 172. Impressively, 48 companies entered the field in the past quarter alone. Bitwise CEO Hunter Horsley shared his excitement on X (formerly Twitter): “These are astounding numbers. It’s clear that not only retail investors but corporates also want Bitcoin.”

Collective Bitcoin Holdings Top $117 Billion

Bitwise’s report further reveals that the total Bitcoin holdings of these companies have soared to over $117 billion, translating to approximately 1.17 million BTC. This represents a 28% quarter-over-quarter growth and accounts for roughly 4.87% of Bitcoin's total circulating supply.

Rachael Lucas, an analyst at Australian digital asset exchange BTC Markets, highlighted this pattern of consistent accumulation as evidence of a broader institutional strategy. “This consistent accumulation suggests that institutions recognize digital assets as a viable long-term financial strategy, rather than speculative tools for short-term profit-taking,” Lucas remarked.

MicroStrategy, the software analytics firm helmed by Michael Saylor, retains its title as the largest single corporate holder of Bitcoin, with a staggering 645,250 BTC as of October 6. Close on their heels is Marathon Digital Holdings (MARA), a leading mining firm that recently expanded its holdings to 53,250 BTC.

Institutional Participation Gains Momentum with Evolving Regulations

The surge in corporate Bitcoin adoption is tightly linked to the improving regulatory environment and advancements in institutional infrastructure. Lucas explained, “Institutional adoption is gaining momentum, and corporations—with some sovereign wealth funds included—are diving into digital assets. This pivotal shift is solidifying cryptocurrency as a mainstream asset class while fueling the development of innovative financial products such as Bitcoin-backed loans and derivatives.”

As governments around the globe invest in robust cryptocurrency regulations, the market is becoming increasingly attractive to corporate investors. This regulatory maturation not only builds investor confidence but also lays the foundation for the creation of sophisticated financial instruments.

Corporate Bitcoin Accumulation and Its Long-Term Impact on Supply

Lucas also emphasized that while corporate Bitcoin purchases primarily occur in over-the-counter (OTC) markets to avoid immediate impacts on spot prices, these steady acquisitions exert significant pressure on Bitcoin’s supply over time. “The long-term implications of corporate accumulation are immense—gradual supply absorption may create persistent upward pressure on Bitcoin prices,” she explained.

Despite this bullish trend, Bitcoin's price remains vulnerable to volatility due to factors such as profit-taking by long-term holders, increased derivatives trading activities, and macroeconomic risks including the ongoing U.S.-China trade tensions. Edward Carroll, Head of Markets at MHC Digital Group, believes that “Institutional Bitcoin accumulation is still in its infancy, but a sustained demand growth outpacing mining supply will inevitably push prices upward over the medium to long-term.”

Carroll’s analysis aligns with data from financial services firm River, which estimates that corporate Bitcoin acquisitions will reach an average of 1,755 BTC daily by 2025, a significant leap from the current daily mining output of approximately 900 BTC.

The Role of Bitcoin Spot ETFs in the Market’s Maturation

One transformative development in the crypto landscape has been the introduction of Bitcoin spot exchange-traded funds (ETFs). These financial tools are rapidly becoming a preferred method for channeling institutional investments into Bitcoin. In the first two weeks of October alone, U.S.-based Bitcoin spot ETFs recorded $2.7 billion in net inflows. This influx of capital has contributed to what analysts are calling “Uptober,” marked by upward momentum for Bitcoin and the broader cryptocurrency market.

As Lucas observed, “What we are witnessing is the maturation of a once-speculative market. Digital assets are no longer the exclusive domain of retail investors seeking quick profits. We’re observing their transformation into a legitimate asset class led by institutional-grade participants.”

This growing institutional involvement underscores a significant shift in the perception of Bitcoin and other digital assets. What was once dismissed as a high-risk speculative asset has now found its way into the core portfolios of major financial entities. As global regulatory frameworks solidify and institutional-grade infrastructure reaches new heights, the path toward mainstream adoption of Bitcoin looks stronger than ever.