Main Points ：
- Publicly traded companies now hold over 1,000,632 BTC, valued at around $110 billion.
- Strategy Inc. (formerly MicroStrategy) alone controls nearly two-thirds of that total.
- Other significant corporate holders include MARA Holdings, XXI, Bitcoin Standard Treasury, Bullish, Metaplanet (Japan), Riot Platforms, Trump Media & Technology Group, CleanSpark, and Coinbase.
- A growing number of companies are adopting Bitcoin treasury strategies inspired by Strategy’s success, alongside rising corporate demand.
- Trump-backed “American Bitcoin” made headlines with a dramatic Nasdaq debut, adding to corporate Bitcoin accumulation trends.
- Undervalued Bitcoin-holding firms may offer unique investment opportunities.
Corporate Bitcoin Holdings Hit a Milestone
Publicly traded companies have collectively amassed over 1,000,632 BTC, equating to roughly $110 billion in value. This milestone underscores the mounting role of corporate adoption in the Bitcoin market.
Among these, Strategy Inc. (formerly MicroStrategy) is the dominant player, holding approximately 636,505 BTC, which is almost two-thirds of the total corporate holdings. The company has adopted a strategy of issuing equity to fund Bitcoin purchases, effectively positioning itself as a leveraged proxy for BTC exposure.
Key Corporate Holders Beyond Strategy
In addition to Strategy, the top corporate Bitcoin holders include:
- MARA Holdings (Marathon Digital): ~50,639 BTC
- XXI (Twenty-One Capital): ~43,514 BTC
- Bitcoin Standard Treasury: ~30,021 BTC
- Bullish: ~24,000 BTC
- Metaplanet (Japan): ~20,000 BTC
- Riot Platforms: ~19,239 BTC
- Trump Media & Technology Group: ~15,000 BTC
- CleanSpark: ~12,703 BTC
- Coinbase Global: ~11,776 BTC
This distribution highlights how a small number of corporates control the lion’s share of Bitcoin reserves.
The Corporate Bitcoin Trend Accelerates
The growth in corporate Bitcoin treasuries has been extraordinary. According to Bitwise data, firms held about 262,635 BTC in late 2023, rising to 590,649 BTC by Q4 2024—and has since exceeded 591,158 BTC by early 2025 .
Inspired by Strategy’s model, a wave of companies—including some outside of crypto-native sectors—are entering the Bitcoin treasury game. Companies hopes to enhance investor appeal and stock performance. For example, MetaPlanet, a Japanese firm, shifted to holding Bitcoin, significantly boosting its stock price.
Analysts estimate that corporate demand could funnel $330 billion into Bitcoin by 2029, with Strategy alone accounting for $124 billion.
Trump’s “American Bitcoin” Joins the Market Frenzy
A dramatic addition to this trend is American Bitcoin, a Bitcoin mining and treasury firm backed by Donald Trump Jr. and Eric Trump. The company debuted on Nasdaq following a reverse merger, with headlines fueled by a 110% intraday stock surge and a valuation pushing their personal stake to over $1.5 billion.
American Bitcoin currently holds 2,443 BTC, and plans to raise $2.1 billion to further expand its mining operations and Bitcoin reserves.
Investing in Undervalued Bitcoin-Holding Firms
Interestingly, some companies holding Bitcoin trade below the value of their Bitcoin holdings (i.e., discounted NAV). These include firms like Empery Digital and Sequans, which may present attractive investment opportunities if they manage to close that valuation gap or are acquired by crypto-strong players.
Conclusion
Publicly listed companies have now reached a staggering 1 million BTC in collective holdings, signaling a strategic embrace of Bitcoin as a treasury asset. Strategy Inc. leads by a significant margin, but a diverse array of firms—from mining giants to fintech innovators to politically connected ventures—is now increasing their exposure. The Pentagon of corporate players is expanding, and new models—such as undervalued treasury firms and high-profile public listings like American Bitcoin—are reshaping the landscape. For readers seeking new crypto ventures, these trends point to both investment opportunities and systemic shifts in how blockchain and corporate finance intersect.
