Bitwise Points to Corporate Interest as Catalyst Behind Bitcoin’s Q2 Boom

Public Companies Push Bitcoin Holdings Past $91B as Corporate Adoption Accelerates

Publicly traded companies are rapidly deepening their exposure to bitcoin, collectively holding 847,000 BTC worth around $91 billion as of the end of Q2 2025, according to fresh data from Bitwise.

This marks a 23% increase in holdings from the previous quarter and represents nearly 4% of bitcoin’s total supply. The average bitcoin price in Q2 climbed to $107,754, propelling the total value of corporate reserves up 61% compared to Q1.

Corporate Participation Expands Sharply

The number of public companies holding bitcoin grew to 125 in the second quarter—a 58% jump—with 46 new firms adding BTC to their balance sheets.

Leading the pack is MicroStrategy (MSTR), which continues to dominate with 597,325 BTC in reserves. MARA Holdings (MARA) follows with 49,940 BTC, while newcomer Twenty One (XXI) has quickly risen to the third-largest corporate holder, acquiring 37,230 BTC.

GameStop and Trump Media Stir Headlines

Several headline-making moves contributed to the surge in corporate adoption. GameStop (GME) entered the crypto market with the purchase of 4,710 BTC, marking its first significant crypto investment. Meanwhile, Trump Media announced plans to raise $2.5 billion specifically to buy bitcoin, signaling growing interest from unexpected corners of the corporate world.

In Asia, Tokyo-listed Metaplanet (3350) saw its trading volume eclipse that of major Japanese companies like Toyota and Sony, underscoring the global momentum behind corporate bitcoin adoption.