Public Companies May Have Raised Bitcoin Holdings to a Record 1.02 Million BTC in Q3, Signaling Growing Institutional Confidence

• 172 public companies held Bitcoin as of Sept. 30, a ~40% rise in three months.

• Collective holdings exceeded 1.02 million BTC, valued near $117–$118 billion on Sept. 30.

• Public companies added over 193,000 BTC in Q3, a 20.68% quarter‑over‑quarter increase (Bitcoin Treasuries; Bitwise).

Public companies increased Bitcoin holdings to record highs in Q3, topping 1.02M BTC; read COINOTAG’s analysis and key takeaways on institutional accumulation.

Published: October 15, 2025. Updated: October 15, 2025. Author: COINOTAG.

How did public companies increase their Bitcoin holdings in Q3?

Public companies increased their Bitcoin holdings primarily through large-scale treasury allocations and public market funding, adding over 193,000 BTC in Q3. The shift reflects companies treating Bitcoin as a strategic reserve asset, with activity confirmed by Bitwise (tweet), Bitcoin Treasuries and corporate disclosures.

Which public companies are the largest corporate Bitcoin holders?

Leading corporate holders remain concentrated among a handful of firms. MicroStrategy continues to report the largest balance at 640,031 BTC (company filings), while newer entrants such as Metaplanet materially increased positions, more than doubling holdings in the quarter. Data aggregation from Bitcoin Treasuries and public filings underpins these figures.

Frequently Asked Questions

How many public companies held Bitcoin as of September 30, 2025?

As of September 30, 2025, 172 public companies reported Bitcoin holdings, a near 40% increase in three months. Collectively those firms held just over 1.02 million BTC, a figure corroborated by Bitcoin Treasuries and market data aggregators.

Why are these companies buying Bitcoin now?

Companies cite strategic reserve management, inflation hedging and long-term digital asset exposure as reasons. Experts note a supportive regulatory backdrop and robust institutional inflows — as reported by CoinShares — are encouraging balance sheet allocations. These drivers were summarized by Gracy Chen, CEO of Bitget, and Peter Chung of Presto Research.

Analysis

The Q3 accumulation by public companies represents a notable shift in institutional behavior. Public firms added over 193,000 BTC in the quarter, a 20.68% increase compared with the prior quarter (Bitwise tweet). This growth outpaced private corporations and exchange‑traded products, which recorded far smaller percentage increases. CoinShares reported that last week’s inflows totaled $2.67 billion into Bitcoin, contributing to a broader $3.17 billion inflow for digital asset products and pushing year‑to‑date inflows to approximately $48.7 billion.

Market participants we spoke with and public statements indicate the following mechanics behind the increase:

• Corporate treasuries: Many public companies have shifted capital allocation policies to include crypto as a reserve asset, using cash balances or equity financing to purchase BTC.
• Long horizon investing: Institutional mandates and treasury strategies favor long-term holding over short-term trading, reducing circulating supply.
• ETF and product flows: Sustained inflows into Bitcoin‑based investment products have created a liquidity environment that supports further corporate accumulation.

Expert commentary

Gracy Chen, CEO of Bitget, said the move reflects a broader strategic rotation: “We’re seeing a growing wave of public and private companies increasing their Bitcoin holdings as part of a broader strategic shift… not just a hedge against inflation but a long‑term bet on digital assets as a core treasury reserve.”

Peter Chung, Head of Research at Presto Research, described the primary driver as institutional treasury mandates: “Their raison d’être is to acquire crypto assets… funded by security issuance in the public market.” Both comments are presented as attributed expert observations and should be read as such.

Data & sources

Primary data referenced in this report: Bitwise (tweet), Bitcoin Treasuries data as of Sept. 30, CoinShares inflows report, company filings from MicroStrategy and disclosure summaries for Metaplanet, commentary from Bitget (Gracy Chen) and Presto Research (Peter Chung). All source names are presented as plain text per editorial policy.

Key Takeaways

• Record corporate adoption: 172 public companies held Bitcoin by Sept. 30, up ~40% in three months.
• Significant supply withdrawal: Public companies added over 193,000 BTC in Q3, a 20.68% quarter‑over‑quarter increase, intensifying supply pressure in secondary markets.
• Institutional momentum: Sustained ETF inflows and corporate treasury strategies suggest continued long‑term accumulation; monitor inflows and official filings for confirmation.

Conclusion

Public companies increased their Bitcoin holdings to more than 1.02 million BTC in Q3, signaling stronger institutional commitment to digital assets as part of corporate treasury strategy. Data from Bitwise, Bitcoin Treasuries and CoinShares, together with corporate filings and expert commentary, show accumulation concentrated among a limited set of firms. COINOTAG will continue tracking reported balances and institutional flows; check subsequent updates for the latest changes and filing disclosures.