Public Firms Amass 1 Million BTC, Controlling Over 5% of Supply
Corporate Bitcoin treasuries surge as adoption accelerates worldwide
Publicly traded companies have collectively crossed a historic milestone, holding more than 1 million Bitcoin – now valued at over $111 billion – as corporate adoption continues to reshape Bitcoin’s market dynamics.
According to BitcoinTreasuries.NET, public companies now hold 1,000,698 BTC, equivalent to 5.1% of Bitcoin’s fixed supply. The surge has been fueled by steady buying from miners, financial firms, and corporations that view Bitcoin as a reserve asset to strengthen their balance sheets.
Michael Saylor’s Strategy remains the dominant player, with 636,505 BTC, dwarfing the next closest holder, MARA Holdings, which sits on 52,477 BTC. Other fast-rising entrants include XXI with 43,514 BTC and Bitcoin Standard Treasury Company with 30,021 BTC, alongside major names like Bullish, Metaplanet, Riot Platforms, and Coinbase.
Analysts say this wave of accumulation, coupled with demand from Bitcoin ETFs, has helped drive Bitcoin to a new all-time high of $124,450 last month. With additional companies disclosing BTC strategies each week, supply-side pressure may continue intensifying in the years ahead.
Saylor’s conviction through bear market inspires others
Strategy’s aggressive Bitcoin accumulation strategy was heavily criticized during the 2022 bear market, when miners were forced to sell 58,770 BTC and Bitcoin bottomed at $15,740 after FTX’s collapse.
Despite skepticism, Saylor doubled down, even declaring he would hold Bitcoin “to zero” if necessary. His resilience has since been credited with inspiring companies like Metaplanet and Semler Scientific, whose CEOs said their firms were “zombie companies” before embracing Bitcoin.
Financial engineering drives treasury growth
Many corporations are using Wall Street mechanisms – from convertible notes to equity offerings – to build their Bitcoin positions.
XXI and Bitcoin Standard Treasury Company, for instance, were created as SPACs to accelerate Bitcoin adoption, offering investors faster exposure than traditional IPOs.
Corporate adoption is spreading globally: while 64 of these firms are US-based, dozens more have emerged in Canada, the UK, Hong Kong, Mexico, South Africa, and Bahrain.
Public firms trail only ETFs and exchanges in BTC holdings
Despite the milestone, publicly listed companies are not the largest holders of Bitcoin. Exchanges and ETF issuers collectively hold 1.62 million BTC, governments hold 526,363 BTC, and private firms 295,015 BTC.
Roughly 242,866 BTC remains locked in crypto protocols, leaving about 16.2 million BTC distributed among individual holders – a number that continues to shrink as corporate and institutional adoption accelerates.
