Corporate Bitcoin treasuries jumped 38% in Q3 alone. These companies now collectively hold a staggering $117 billion.
Bitcoin treasuries are growing fast. In the third quarter of this year alone, 48 new public companies added Bitcoin to their balance sheets. The total number of corporate holders climbed to 172, according to a report from crypto asset manager Bitwise.
The firm’s latest Corporate Bitcoin Adoption report, based on data from BitcoinTreasuries.NET, shows that businesses now collectively hold more than one million Bitcoin.
That figure represents nearly 4.9% of the total supply.
Large corporations keep accumulating Bitcoin treasuries
Bitwise CEO Hunter Horsley called the trend “absolutely remarkable.” He noted that both people and corporations want to own Bitcoin, despite recent price volatility.
The total value of all corporate holdings rose 28% over the last quarter and reached about $117 billion.
Analysts believe that the steady rise in Bitcoin treasuries shows ongoing confidence from big institutions. Rachael Lucas, an analyst at BTC Markets, said that large players are “doubling down, not backing away.”
The undisputed leader of the charge is Michael Saylor’s company, Strategy, which remains the largest Bitcoin treasury holder.
After its latest purchase on Oct. 6, Strategy’s total reached 640,250 Bitcoin. The second-largest holder, crypto miner MARA Holdings, now owns 53,250 Bitcoin following another recent acquisition.
Lucas said the trend will likely continue as regulations improve and institutional infrastructure develops. “They’re not chasing short-term gains,” she explained. “They’re making long-term decisions on digital assets as part of their treasury strategy.”
Bitcoin supply tightens as institutional demand grows
While Bitcoin treasuries are expanding, the spot price has been volatile. Lucas noted that companies often buy Bitcoin over the counter. This quieter approach avoids sudden price spikes, but it also means those purchases do not immediately affect the market.
Still, she said price dips are often caused by short-term factors like profit-taking, derivatives activity, or global economic shocks. One good example is the recent trade tensions between the United States and China.
BREAKING: President Trump accuses China of an "economically hostile act" for not buying US soybeans.
Trump says he is considering "terminating" business with China having to do with cooking oil, and other elements of trade, as retribution. pic.twitter.com/hpfQ4MMTyp
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Edward Carroll, head of markets at MHC Digital Group added that institutional accumulation is still in its early stages. He believes that as demand grows, supply will become tighter.
Carroll expects Bitcoin demand to grow in an “ordered and increasing” way over the next few years. He also predicts that Bitcoin will start to move independently from risk sentiment, thanks to rising institutional participation.
According to Bitbo, miners currently produce around 900 Bitcoin per day. Yet businesses are now buying an average of 1,755 Bitcoin daily, based on a recent report from financial services firm River.
That imbalance indicates that supply is being absorbed faster than it is created.
Institutional adoption shows a maturing crypto market
The growth in Bitcoin treasuries isn’t the only sign of maturity in the crypto industry. Exchange-traded funds (ETFs) have also become a popular entry point for traditional investors.
Lucas said Bitcoin ETFs allow investors to gain exposure to the asset through familiar, regulated financial products. She described this as a major step toward mainstream adoption.
US spot Bitcoin ETFs saw $2.71 billion in inflows last week, and continued a strong performance throughout “Uptober.” This steady flow of capital shows that the appetite for Bitcoin continues to be strong among institutions and retail investors.
