The 10 Public Companies With the Biggest Bitcoin Portfolios

For galore years, the thought that publically traded corporations mightiness bargain Bitcoin for their reserves was considered laughable. The apical cryptocurrency was considered excessively volatile, excessively fringe to beryllium embraced by immoderate superior business.

That taboo has been good and genuinely broken, with a fig of large organization investors buying up Bitcoin successful caller years.

The floodgates archetypal opened erstwhile unreality bundle institution MicroStrategy bought $425 cardinal worthy of Bitcoin successful August and September 2020. Others followed suit, including payments processor Block and electrical car shaper Tesla.

Per BitcoinTreasuries, nationalist companies holding Bitcoin present relationship for 5.39% of the full proviso of 21 cardinal BTC. These are the biggest holders arsenic of this writing.

1. Strategy

Strategy, a salient concern analytics level turned Bitcoin treasury company, has adopted BTC arsenic its superior reserve asset. The institution is possibly amended known arsenic MicroStrategy, but changed its name successful February 2025 with co-founder Michael Saylor citing the “power and positivity” of “strategy.” 

The firm, which produces mobile bundle and provides cloud-based services, has aggressively pursued a Bitcoin buying spree, scooping up millions of dollars worthy of the cryptocurrency. As of this writing, it holds 780,897 BTC successful reserve, equivalent to $59 cardinal and much than 3.7% of the total magnitude of Bitcoin that volition ever beryllium issued.

In the company’s Q1 2024 net call, Saylor claimed that the company’s adoption of a “Bitcoin strategy” had enabled it to present 10x to 30x the show of rival endeavor bundle companies successful the concern quality sector. The institution typically reveals Bitcoin buys connected a play basis, though it routinely skips a week astatine the extremity of each quarter.

Unlike different executives who typically shy distant from discussing their idiosyncratic investments, Saylor has made it nationalist that helium personally purchased 17,732 BTC—currently worthy over $1.3 billion, and inactive holds them arsenic of September 2024. It’s thing of an about-face for the Strategy co-founder, who successful 2013 claimed that Bitcoin’s days were numbered.

“We're astatine the opening of the signifier of accelerated organization adoption of integer spot successful the signifier of Bitcoin,” Saylor said during the company’s Q1 2024 net call. He added that successful the future, Bitcoin won’t vie against different crypto assets, but against, “gold, art, equities, existent estate, bonds, and different types of store-of-value wealth successful wealthiness creation, wealthiness preservation, and the superior markets.”

Perhaps the loudest Bitcoin proponent retired there, Saylor has already said the steadfast volition beryllium “buying the apical forever.” He has antecedently said the steadfast could yet bargain 7% of the full BTC supply, and precocious reassured investors successful MSTR that it could withstand a Bitcoin drawdown to arsenic overmuch arsenic $8,000, conscionable refinancing its indebtedness on the way. 

“If you deliberation it’s going to zero, past we’ll woody with that,” helium said. “But I don’t deliberation it’s going to zero, and I don’t deliberation it’s going to $8,000 either.”

2. Twenty One Capital

The Jack Mallers-led Twenty One Capital (XXI) holds 43,513.12 Bitcoin according to its public balances connected the Bitcoin blockchain. That’s astir $3.3 cardinal worth, arsenic of this writing.

The firm, which launched via a SPAC merger with Cantor Equity Partner successful December, worked with stablecoin elephantine Tether, crypto speech Bitfinex, and Japanese concern steadfast SoftBank to physique its Bitcoin treasury. 

Unlike different treasury firms that whitethorn accumulate Bitcoin for their equilibrium sheets portion operating non-crypto businesses, Twenty One’s superior absorption remains connected acquiring BTC and providing Bitcoin-related services to assistance differentiate itself from others.

The steadfast pledges a semipermanent absorption with plans not to “outperform inflation,” but alternatively “render the conception of ostentation irrelevant.”

3. Metaplanet

Metaplanet, a Tokyo-listed steadfast nicknamed the “Asian Strategy,” present holds 40,177 Bitcoin, worthy implicit $3 cardinal astatine the clip of writing. 

Outside of its Bitcoin operations, the institution owns and operates a edifice that is being rebranded to the “Bitcoin Hotel,” and claims that it is the archetypal and lone publically listed Bitcoin treasury institution successful Japan. 

Following successful Strategy’s footsteps, the steadfast has aggressively added to its Bitcoin holdings. Last September, it achieved its 2025 extremity of owning 30,000 BTC portion leapfrogging the Bitcoin Standard Treasury Company to instrumentality implicit the 3rd spot connected this list. 

Though its short-term extremity has been achieved, it has a agelong mode to spell to scope its 2027 extremity of owning much than 210,000 Bitcoin—nearly $16 cardinal worthy astatine the clip of writing.

The institution added President Donald Trump’s son Eric Trump to a Strategic Advisory Board successful aboriginal 2025. Later that year, it took up residence successful the United States, expanding with the instauration of a subsidiary successful Miami, Florida. In March 2026, it broadened its Bitcoin strategy, adding an concern limb with astir $25 cardinal expected to beryllium invested into Bitcoin companies.

4. MARA

Bitcoin mining institution MARA (formerly Marathon Digital), unsurprisingly, is besides a ample holder of Bitcoin, with astir 38,689 BTC—more than $2.9 cardinal worth—in its firm treasury astatine the clip of writing.

The company, which primitively aimed to physique "the largest Bitcoin mining cognition successful North America astatine 1 of the lowest vigor costs," originated arsenic a patent holding steadfast (and was often referred to arsenic a patent troll) earlier its pivot into crypto mining. 

But arsenic Bitcoin miners began to pivot towards providing AI infrastructure, so did MARA. As portion of that move, the steadfast announced a displacement successful its strategy successful March 2026, saying that it mightiness merchantability immoderate of its Bitcoin treasury to money different initiatives. That strategy was enactment to usage quickly, arsenic the steadfast sold 15,133 BTC valued astatine $1.1 cardinal to assistance bargain backmost debt. 

“While Bitcoin mining remains the instauration of our platform, we person expanded our footprint successful vigor procreation and are investing successful probe and improvement to found a beingness successful AI and adjacent markets, creating further gross opportunities implicit the agelong term,” its most caller 10K filing reads.

5. Bitcoin Standard Treasury Company

Bitcoin Standard Treasury Company (BSTR) is different soon-to-be nationalist entity that volition motorboat with much than 30,000 BTC erstwhile its transactions finalize, expected to instrumentality spot successful precocious Q1 oregon Q2 of 2026. 

The firm, which volition beryllium led by aboriginal Bitcoiner and BTC whale Adam Back—who has denied being pseudonymous Bitcoin creator Satoshi Nakamoto, amid high-profile accusations—is the effect of a merger betwixt BSTR and the Cantor Fitzgerald-linked peculiar intent acquisition company, Cantor Equity Partners I. 

As portion of the merger, Back and founding shareholders volition lend 25,000 Bitcoin to the company, with different 5,021 Bitcoin provided via an in-kind PIPE, oregon backstage concern successful nationalist equity. 

“We are putting unprecedented firepower down a azygous mission: maximizing Bitcoin ownership per stock portion accelerating real-world Bitcoin adoption,” Back said of the firm, successful a statement. 

In summation to its 30,031 Bitcoin, the steadfast also announced it could rise up to $1.5 billion successful backing for much purchases.

6. Riot Platforms

Another crypto mining outfit, U.S.-based Riot Platforms, holds 15,680 BTC—worth astir $1.2 cardinal astatine today’s prices. 

With its valuation surging from beneath $200 cardinal successful 2020 to highs of over $6 billion successful 2021, the Nasdaq-listed institution went connected an assertive enlargement drive. In April 2021, it spent $650 cardinal connected a one-gigawatt Bitcoin mining facility successful Texas, yet expanding further successful 2022 earlier rebranding to Riot Platforms to diversify its concern exemplary successful 2023. 

The institution also reached a settlement with Bitcoin mining firm, Bitfarms, arsenic it attempted a hostile takeover of the rival successful 2024.

Amid Bitcoin’s drawdown successful precocious 2025, the steadfast indicated that it whitethorn person to merchantability more of its Bitcoin holdings than antecedently anticipated to “generate the liquidity required to money our ongoing operations and moving superior needs.” It collectively sold astir $450 cardinal worthy successful Q4 and Q1 2026, combined arsenic it pivoted to service AI request alongside different Bitcoin miners.

7. Coinbase

Arguably the best-known crypto steadfast successful this list, crypto speech Coinbase went nationalist successful a landmark nonstop listing connected the Nasdaq successful April 2021.

Ahead of its listing, successful February 2021, Coinbase revealed that it held $230 cardinal successful Bitcoin connected its equilibrium sheet. As of its astir caller 10-K filing, it holds 15,389 BTC successful its treasury for concern arsenic of December 31, 2025. That’s astir $1.17 cardinal worth.

The steadfast has added much than 8,500 BTC since the extremity of 2024 erstwhile it held 6,885. And its CEO, Brian Armstrong, says it’ll support adding successful the future. 

“Coinbase is agelong Bitcoin,” helium posted connected X successful October. 

It continues to innovate with Bitcoin, announcing its ain wrapped Bitcoin product, cbBTC, successful precocious 2024. Coinbase besides restarted Bitcoin lending services successful January 2025.

8. Strive Asset Management

Financial services steadfast Strive Asset Management joined the apical 10 nationalist holders successful January 2026 erstwhile it pushed its holdings supra 13,000 BTC. That fig stands astatine 13,678 BTC, valued supra $1 billion, arsenic of this writing.

The firm, co-founded by erstwhile Republican Ohio gubernatorial campaigner Vivek Ramaswamy, raised $750 cardinal successful May 2025 to bargain Bitcoin. Previously, it had encouraged famed meme banal steadfast and video crippled retailer, GameStop, to shove its holdings into the largest crypto plus by marketplace cap. GameStop bought much than $500 cardinal worthy of Bitcoin successful 2025, and successful 2026, revealed that it put its funds into a covered telephone enactment strategy with Coinbase.

After raising a monolithic money to bargain BTC, Strive besides acquired a smaller Bitcoin treasury firm—Semler Scientific—in an all-stock woody that gave it entree to the healthcare technologies firm’s Bitcoin, astir 5,048 BTC astatine the clip of the deal.

9. Hut8

Canadian Bitcoin mining steadfast Hut 8 holds 13,696 BTC, worthy implicit $1 cardinal astatine existent prices according to its last BTC-denominated update.

In June 2021, the institution was listed connected the Nasdaq Global Select Market nether the HUT ticker, with the company's SEC filing noting that it's "committed to increasing shareholder worth by expanding the fig and worth of our Bitcoin holdings." In November 2023, the steadfast merged with chap mining institution US Bitcoin, with the post-merger steadfast billing itself arsenic an “energy infrastructure institution targeting Bitcoin mining and information centers.” 

The institution announced a $150 cardinal investment past June to grow its AI compute propulsion to conscionable demand, and its banal astir doubled successful the weeks pursuing the statesmanlike election. Its wholly owned subsidiary, American Bitcoin—which was co-founded by President Trump’s son, Eric Trump—has besides gone nationalist arsenic a Bitcoin miner and treasury firm.

HUT8 banal soared erstwhile much successful December 2025 aft the steadfast inked a $7 cardinal Google-backed AI information halfway deal. Shares successful American Bitcoin, its wholly owned subsidiary, deed their lowest mark post-IPO erstwhile they dipped successful precocious March.

10. CleanSpark

U.S. Bitcoin mining steadfast CleanSpark holds 13,363 BTC arsenic of March 26, worthy astir $1 cardinal astatine today’s prices. 

Ahead of the 2024 Bitcoin halving, the steadfast expanded its operations, snapping up 3 Bitcoin mining facilities successful Mississippi for $19.8 cardinal and adding up to 2.4 EH/s to its mining capacity. The institution besides added a 3rd installation successful Dalton, Georgia to its lineup, with a further 0.8 EH/s.

While different nationalist companies connected the database person made it a wont of buying Bitcoin for their treasuries, CleanSpark CFO Gary Vecchiarelli said successful February 2025, “We proceed to put successful ourselves due to the fact that wherefore bargain Bitcoin astatine existent spot prices erstwhile we tin excavation it for $34,000?"

Editor's note: This nonfiction was archetypal published successful July 2022 and past updated with caller details connected April 19, 2026.

This database is maintained via a premix of regulatory filings, accusation shared by the companies themselves, on-chain data, and rankings similar BitcoinTreasuries.net. In situations wherever information is unclear oregon incomplete, we person made galore attempts to scope retired to the firms and question clarification. Where we could not summation clarification, we’ve utilized our champion judgement regarding inclusion. We volition proceed to update this ranking based connected caller accusation and moves ahead.

Additional reporting by Daniel Phillips and Stephen Graves