Bitwise Asset Management has released its Q3 Corporate Bitcoin Adoption Report, highlighting growing institutional confidence in Bitcoin as an investment and treasury asset.
What Happened: The report shows that 172 public companies now hold Bitcoin, with 48 new entrants between July and September—a 38% increase from the previous quarter.
The total value of corporate Bitcoin treasuries reached $117 billion, up over 28% from Q2, with holdings surpassing one million coins, or 4.87% of total Bitcoin supply.
Bitwise CEO Hunter Horsley described the figures as "absolutely remarkable," noting that both individuals and companies increasingly seek Bitcoin exposure.
Leading corporate holders include Michael Saylor's Strategy (NASDAQ:MSTR), with 640,250 BTC, and crypto miner Marathon Digital (NASDAQ:MARA), holding 53,250 BTC.
Also Read: Bitcoin Steadies Above $110,000 As Ethereum, XRP, Dogecoin Slip On Thursday
Why It Matters: Despite rising accumulation, Bitcoin's price has remained volatile.
Corporate purchases are generally conducted over-the-counter to avoid impacting the spot market, but profit-taking by long-term holders, derivatives activity, and macroeconomic events can still cause sharp corrections.
Beyond corporate buying, the growth of Bitcoin ETFs is attracting traditional investors.
U.S. spot Bitcoin ETFs saw $2.71 billion in weekly inflows during the recent "Uptober" rally, signalling a maturing market.
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