Corporate Bitcoin Ownership Jumped 38% in Q3 2025

A total of 172 firms now collectively own over one million BTC worth $117 billion. Meanwhile, the US government could see its own Bitcoin reserves swell by $14 billion after the forfeiture of 127,271 BTC linked to an alleged crypto fraud case involving Chen Zhi. If approved, this will raise the nation’s strategic Bitcoin holdings to about 325,000 BTC, or roughly $36 billion. Overall, it is becoming very clear that both corporations and governments are embracing Bitcoin as a long-term asset.

Public Companies Rush to Add Bitcoin

The number of publicly traded companies holding Bitcoin surged by 38% between July and September, which means that institutional interest in the world’s leading crypto is accelerating rather than cooling off. According to Bitwise’s Q3 Corporate Bitcoin Adoption report, there are now 172 public companies with Bitcoin on their balance sheets — an increase of 48 new corporate holders in just one quarter. 

The total value of these holdings reached $117 billion, which is a 28% increase from the previous quarter, and collectively amounts to more than one million BTC, or roughly 4.87% of the total supply.

Bitwise CEO Hunter Horsley described the growth as “absolutely remarkable,” and explained that both individuals and corporations want exposure to Bitcoin. Analysts believe this rise in adoption shows how companies view Bitcoin as a legitimate long-term asset rather than a speculative play. 

Rachael Lucas, an analyst at BTC Markets, said that the trend shows “larger players are doubling down, not backing away,” and that this deeper institutional participation “helps legitimize crypto as a mainstream asset class” while also paving the way for innovations like Bitcoin-backed loans and derivatives.

Leading the pack is Michael Saylor’s Strategy, which is the world’s largest Bitcoin-holding company with 640,250 BTC. Strategy is followed by crypto mining firm MARA Holdings, which now holds 53,250 BTC after its latest accumulation. Lucas pointed out that many companies buy Bitcoin over-the-counter to minimize market impact, which often leads to quieter but sustained accumulation phases.

Top Bitcoin treasury companies (Source: BitcoinTreasureis.NET)

Despite this growing adoption, Bitcoin’s price stayed volatile due to macroeconomic uncertainty and profit-taking by long-term holders. Still, Edward Carroll of MHC Digital Group said the rising rate of institutional purchases will likely create a demand-supply imbalance that could push prices higher over time. With miners producing roughly 900 BTC per day and companies collectively buying almost double that amount, analysts expect increasing scarcity to eventually fuel upward momentum.

Lucas added that the rise of Bitcoin exchange-traded funds (ETFS) is also broadening access for traditional investors. “What we’re witnessing is a maturing market,” she said.

US May Add $14B in Bitcoin

Government Bitcoin reserves could also see some growth soon. A US federal court unsealed a major criminal indictment tied to one of the largest cryptocurrency fraud cases in history, which could potentially increase the government’s national Bitcoin reserves by an additional $14 billion. 

The Justice Department announced on Tuesday that it filed a forfeiture complaint against 127,271 Bitcoin, valued at roughly $14.4 billion, which is currently held in the custody of the US government. The Bitcoin is linked to Chen Zhi, the founder and chairman of Cambodia-based Prince Holding Group, who stands accused of orchestrating large-scale “pig butchering” crypto investment schemes.

Press release from the US Attorney’s Office

The indictment was filed in the US District Court for the Eastern District of New York, and charges Zhi with conspiracy to commit wire fraud and money laundering. The US Treasury Department’s Office of Foreign Assets Control sanctioned Prince Holding Group and its affiliates in a move against what they described as an international crypto fraud network. 

According to the Justice Department, if Zhi is convicted, the Bitcoin will be permanently forfeited to the United States. This will be one of the biggest inflows to the nation’s strategic Bitcoin reserve since its inception earlier this year. Zhi is still at large and faces up to 40 years in prison if convicted.

Since President Donald Trump established the country’s national Bitcoin and digital asset reserves through executive order in March, the holdings reportedly grew to around 198,000 BTC, which is valued at more than $22 billion. With the addition from Zhi’s case, the total could climb to approximately 325,000 BTC — worth about $36 billion.

The growing reserve caused some debate among policymakers about future strategies for boosting the country’s digital asset holdings. Wyoming Senator Cynthia Lummis suggested converting a portion of the US’s gold reserves into Bitcoin. Others, including Treasury Secretary Scott Bessent, floated budget-neutral methods for acquiring Bitcoin, though such measures could require congressional approval.