Blockware Intelligence predicts that at the end of 2025, at least 36 additional public companies will have added bitcoin to their balance sheets.
“This is only the start. Over the next 6 months, we expect at least three dozen additional public companies to add bitcoin to their treasure,” said blockware in its Q3 2025 market update report. This would represent approximately 25% compared to the current total of 141 public companies holding Bitcoin (BTC), according to data from the company.
2025 saw a 120% increase in public companies adopting Bitcoin
The intelligence unit, which is the search branch for blockware solutions, a bitcoin extraction company, said that in 2025, the number of listed companies holding Bitcoin on their balance sheets had jumped 120%. “Bitcoin cash companies are the aforementioned” bridge “connecting the stock markets and Bitcoin debt,” added the firm.
According to BitCointareries.net data, Michael Saylor’s strategy leads the pack with 597,325 BTC, holding about 12 times more than the second holder, the Bitcoin extraction company, Mara Holdings, which has 50,000 BTC.
However, Blockware has said that the growing number of companies joining the ranks is either newly established or faced with operational challenges.
“The corporate bitcoin adoption race is mainly directed by new companies or dying companies that you have never heard of.”
Blockware said it was not necessarily a negative. “Companies with companies in difficulty (low growth, dying markets) have much more easier to recognize the simplicity of the investment of the profits kept in the BTC and to gain 40 to 60% of TCAC without the operational risks of business management,” said Blockware.
The recent warning of the analyst for new Bitcoin cash companies
“The market sends a strong signal: the secure exhibition of Bitcoin is there to stay,” added the company.
Bitwise Asset Management recently indicated that the interest of companies for Bitcoin has reached new heights in the second quarter of 2025, companies adding a record of 159,107 BTC to their balance sheets.
However, not everyone is optimistic about the large number of companies adopting Bitcoin.
Glassnode chief analyst James Check recently warned that the easy rise could already be behind new companies in space.
In relation: Bitcoin price is likely to reach $ 130,000 before kicking
“My instinct is that the Bitcoin treasure strategy has a much shorter lifespan than most expectations,” said Check on July 4.
On June 29, the Breed Capital Capital Company argued in a report that only a few Bitcoin cash companies will not resist the test of time and will avoid the vicious “death spiral” which will have an impact on BTC portfolio companies which are negotiated near the net value of assets (NAV).
Meanwhile, Crypto Trader, Saint Pump, said in an article on X that “I am also quite convinced that they will play a key role in the next bear market.”
“Music stops when the Premium Nav begins to fall slowly (or even become negative with automatic ticket distributors) and the increases become smaller or fail completely,” added the merchant.
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