Public Companies Accumulate 195,000 Bitcoin in Q3 2025
Public companies accumulated approximately 190,611 Bitcoin during Q3 2025, valued at around $23.36 billion. This marks one of the strongest quarterly performances since late 2024. The number of firms holding Bitcoin rose to 172 companies, representing a significant shift in corporate treasury strategies.
These companies collectively hold about 1.02 million BTC, roughly 4.8% of the total supply, valued at $117 billion as of September 30, 2025. The massive accumulation demonstrates growing institutional confidence in digital assets. Companies are now treating Bitcoin as a strategic reserve rather than a speculative investment.
Bitcoin Treasury Leaders Drive Q3 Accumulation
Strategy added 40,000 BTC in Q3, lifting its total holdings to more than 640,000 BTC. The company remains the largest corporate Bitcoin holder by a substantial margin. MARA Holdings ranks second with 53,250 Bitcoin after increasing its position. These major players continue setting the pace for institutional adoption.
Japanese firm Metaplanet doubled its holdings during the quarter, signaling strong international interest. The company has become Asia’s answer to Strategy’s aggressive accumulation strategy. Payments firm Strike completed a major treasury merger by acquiring Semler Scientific, marking the first significant consolidation in the space.
Why Public Companies Are Buying Bitcoin
Companies view Bitcoin as an inflation hedge and diversifier against unstable monetary policies. Economic uncertainty continues driving firms toward non-sovereign reserves. Bitcoin offers protection from currency devaluation and traditional financial system risks.
Businesses acquired approximately 1,755 Bitcoin daily on average in 2025, while miners generated roughly 900 Bitcoin per day. This creates a persistent supply-demand squeeze. Corporate accumulation outpaces new supply by nearly twice as much, creating upward price pressure.
Regulatory clarity improvements make Bitcoin more attractive for treasury management. Major financial institutions now offer custody solutions for corporate clients. Banks like U.S. Bank and Citi have resumed or expanded services to institutional clients, reducing barriers to entry.
Bitcoin Accumulation Impact on Market Dynamics
Despite record accumulation, Bitcoin’s price has remained stubbornly stuck below $115,000. This disconnect puzzles many market observers. Broader economic challenges, including renewed trade tensions and shifting expectations for U.S. monetary policy, keep risk appetite low.
Analysts expect corporate demand to cause a supply imbalance that should place upward pressure on prices in the medium-long term. The accumulation trend appears sustainable based on current economic conditions. Bitcoin demand is expected to decouple from correlation to risk sentiment as institutional participation increases.
Companies are buying nearly double the mined supply, suggesting a future with potentially higher price floors. This structural shift could redefine Bitcoin’s valuation framework. The 4.8% of supply held by public companies represents a significant concentration.
Conclusion
Larger players are doubling down rather than backing away from Bitcoin. The Q3 data confirms institutional adoption is deepening across sectors. Corporations are making long-term decisions on digital assets as part of their treasury strategy, moving beyond short-term speculation.
More public companies following early adopters like Strategy and Marathon could create a domino effect. Competitive pressures may compel additional firms to adopt Bitcoin treasuries. The legitimization of digital assets through corporate adoption strengthens trust in the broader crypto ecosystem.
Bitcoin treasuries could become significant factors in corporate valuations and strategic partnerships. Merger and acquisition activities may increasingly consider Bitcoin holdings. Companies without digital asset exposure might face questions about their treasury diversification.
