The 10 Public Companies With the Biggest Bitcoin Portfolios

For a entire lot of years, the root that publicly traded corporations may perhaps aquire Bitcoin for their reserves used to be regarded as droll. The head cryptocurrency used to be regarded as too volatile, too fringe to be embraced by any basic trade.

That taboo has been well and in fact broken, with a different of most vital institutional investors procuring for up Bitcoin currently.

The floodgates first opened when cloud instrument company Strategy (beforehand MicroStrategy) sold $425 million worth of Bitcoin in August and September 2020. Others adopted suit, at the side of payments processor Block and electric automobile producer Tesla.

Per BitcoinTreasuries, public corporations keeping Bitcoin now myth for virtually 4.5% of the total provide of 21 million BTC. These are the greatest holders as of this writing.

1. Strategy

Strategy, a mighty trade analytics platform grew to turn out to be Bitcoin treasury company, has adopted BTC as its most vital reserve asset. The company is presumably better identified as MicroStrategy, but changed its title in February 2025 with co-founder Michael Saylor citing the “energy and positivity” of “strategy.”

The firm, which produces mobile instrument and offers cloud-primarily based fully products and services, has aggressively pursued a Bitcoin procuring for spree, scooping up hundreds and hundreds of dollars worth of the cryptocurrency. As of this writing in August 2025, it holds 628,946 BTC in reserve, an similar to greater than $73 billion and greater than 2.8% of the total different of Bitcoin that will ever be issued.

At one level, Strategy Executive Chairman Michael Saylor mentioned, he used to be procuring for $1,000 in Bitcoin every second. In the company’s Q1 2024 earnings call, Saylor claimed that the company’s adoption of a “Bitcoin strategy” had enabled it to ship 10x to 30x the performance of rival enterprise instrument corporations within the trade intelligence sector.

Not like completely different executives who normally shrink again from discussing their non-public investments, Saylor has made it public that he for my portion bought 17,732 BTC—within the intervening time worth over $1.6 billion and silent holds them as of September 2024. It’s something of an about-face for the Strategy co-founder, who in 2013 claimed that Bitcoin’s days were numbered.

“We’re originally of the stage of rapid institutional adoption of digital property within the fabricate of Bitcoin,” Saylor mentioned within the center of the company’s Q1 2024 earnings call. He added that in some unspecified time in the future, Bitcoin obtained’t compete against completely different crypto sources, but against, “gold, artwork, equities, proper estate, bonds, and completely various kinds of store-of-worth money in wealth creation, wealth preservation, and the capital markets.”

Strategy plans to aquire even more Bitcoin within the near future, because it’s within the midst of elevating a planned $42 billion to enact superb that, and Saylor is making the pitch to fully different public corporations besides—enjoy Microsoft, although shareholders in a roundabout design voted against the proposal.

Per chance the loudest Bitcoin proponent accessible, Saylor has already mentioned the firm will be “procuring for the pause forever.”

2. Marathon Digital Holdings Inc.

Bitcoin mining company Marathon Digital, unsurprisingly, shall be a huge holder of Bitcoin, with 50,639 BTC in its company treasury in accordance to a recent social update. That’s worth virtually $6 billion at at the new time’s prices.

The company, which goals to to find “the greatest Bitcoin mining operation in North The usa at considered one of many bottom energy expenses,” originated as a patent keeping firm (and used to be on the entire normally known as a patent troll) sooner than its pivot into crypto mining.

The firm famed that it is a ways accelerating its enhance plans following the 2024 Bitcoin halving, in a picture to “mitigate the impact” of receiving half the BTC rewards per every efficiently mined block.  The firm had mentioned that it aimed to double the dimensions of its mining operations in 2024.

The company increased its earnings by 64% in Q2 2025, marking its absolute most life like ever earnings quarter at $238.5 million. It no longer too prolonged ago raised virtually $2 billion by strategy of convertible notes, most of which has been customary to aquire Bitcoin.

3. Twenty-One (XXI)

The Jack Mallers-led Twenty One (XXI) expects to assist 43,514 Bitcoin—over $5 billion worth within the intervening time—when transactions are finalized and it begins trading publicly.

Put of living to begin by strategy of a planned SPAC merger with Cantor Fairness Companions, the firm shall be working alongside stablecoin huge Tether, crypto trade Bitfinex, and Japanese funding firm SoftBank to to find its Bitcoin treasury.

Not like completely different treasury corporations that will to find Bitcoin for their steadiness sheets while working non-crypto corporations, Twenty One’s most vital level of interest will be on procuring BTC and offering Bitcoin-linked products and services to assist differentiate itself from others.

The firm pledges a prolonged-timeframe level of interest with plans no longer to “outperform inflation,” but as a change “render the idea that of inflation irrelevant.”

4. Bitcoin Fashioned Treasury Firm

Bitcoin Fashioned Treasury Firm (BSTR) is yet every other quickly-to-be public entity that will starting up with greater than 30,000 Bitcoin when its transactions finalize, expected to take divulge in Q4 2025.

The firm, which is capable of be led by early Bitcoiner and BTC whale Adam Assist, is the implications of a merger between BSTR and the Cantor Fitzgerald-linked particular reason acquisition company, Cantor Fairness Companions I.

As portion of the merger, Assist and founding shareholders will make contributions 25,000 Bitcoin to the company, with yet every other 5,021 Bitcoin provided by strategy of an in-kind PIPE, or deepest funding in public equity.

“We’re striking unheard of firepower within the encourage of a single mission: maximizing Bitcoin ownership per portion while accelerating proper-world Bitcoin adoption,” Assist mentioned of the firm, in a assertion.

Moreover its 30,031 Bitcoin, within the intervening time valued at $3.5 billion, the firm also announced it may perhaps maybe elevate as a lot as $1.5 billion in funding for more purchases.

5. Riot Platforms, Inc.

One other crypto mining outfit, U.S.-primarily based fully Riot Platforms, holds 19,273 BTC—worth $2.25 billion at at the new time’s prices.

With its valuation surging from below $200 million in 2020 to highs of over $6 billion in 2021, the Nasdaq-listed company went on an aggressive growth pressure. In April 2021, it spent $650 million on a one-gigawatt Bitcoin mining facility in Texas, eventually rising additional in 2022 sooner than rebranding to Riot Platforms to diversify its trade mannequin in 2023.

In 2024, it warned shareholders that there used to be “no guarantee” the Bitcoin halving would give a seize to profitability and while RIOT shares traded temporarily round $18 within the early portion of the yr, the inventory fell gradually sooner than ranging below $10 from August till late October. After such, it gained alongside a resurgence for Bitcoin mining shares and the broader cryptocurrency market after Donald Trump used to be named President-elect in November.

The company also reached a settlement with Bitcoin mining firm, Bitfarms, because it tried a hostile takeover of the rival in 2024.

6. Metaplanet

Metaplanet, a Tokyo-listed firm nicknamed the “Asian Strategy,” now holds 18,113 Bitcoin after its most novel aquire, worth over $2.1 billion at at the new time’s prices.

Commence air of its Bitcoin operations, the company owns and operates a resort that is being rebranded to the “Bitcoin Resort,” and claims that it is a ways mainly the most elementary and easiest publicly listed Bitcoin treasury company in Japan.

Following in Strategy’s footsteps, the firm has aggressively added to its Bitcoin holdings of late, rising its reserves greater than 10x from lower than 400 BTC in September 2024 to greater than 4,500 in April 2025. It then greater than tripled that number in barely a pair months because it heads against a aim of owning greater than 210,000 Bitcoin by 2027.

In completely different headline news, the company added President Donald Trump’s son Eric Trump to a Strategic Advisory Board in March.

7. Trump Media & Know-how Community

President Trump’s publicly traded media and skills firm is the 7th greatest holder of Bitcoin with an estimated 15,000 BTC, in accordance to data from Bitcointreasuries.obtain.

That number is probably going derived from the firm’s recent $2 billion aquire of Bitcoin and Bitcoin-linked securities in July—regardless that it has no longer publicly detailed exactly how a lot of that aquire is denominated in BTC itself.

Trump Media has been leaning into crypto heavily since the president returned to the White Dwelling in January.

Moreover its Bitcoin purchases, it also teased the starting up of a crypto token and pockets for its Truth Social platform, and has filed to begin a pair of crypto ETFs.

8. CleanSpark

U.S. Bitcoin mining firm CleanSpark holds 12,703 BTC as of July 31, worth superb below $1.5 billion at at the new time’s prices.

Sooner than the 2024 Bitcoin halving, the firm expanded its operations, snapping up three Bitcoin mining facilities in Mississippi for $19.8 million and at the side of as a lot as 2.4 EH/s to its mining capacity. The company also added a third facility in Dalton, Georgia to its lineup, with a additional 0.8 EH/s.

In June 2024, CleanSpark revealed that it had mined 417 BTC within the month of Could perhaps, claiming to have “outperformed trade expectations” in its first tubby month of manufacturing following the halving. The company added that it may perhaps maybe additional amplify to a online page in Wyoming.

While completely different public corporations on the checklist have made it a behavior of procuring Bitcoin for their treasuries, CleanSpark CFO Gary Vecchiarelli mentioned in February 2025, “We proceed to make investments in ourselves, because why aquire Bitcoin at recent online page prices when we are capable of mine it for $34,000?”

9. Coinbase

Arguably the very most attention-grabbing-identified crypto firm on this checklist, crypto trade Coinbase went public in a landmark train list on the Nasdaq in April 2021.

Sooner than its list, in February 2021, Coinbase revealed that it held $230 million in Bitcoin on its steadiness sheet. As of its most novel 10-q filing, it holds 11,776 BTC in its treasury for funding, within the intervening time worth virtually $1.4 billion.

The company’s inventory has charged encourage against its old all-time high within the wake of the 2024 Presidential election, later surpassing the ticket in June 2025 and pushing to a new high all all over again in July.

It continues to innovate with Bitcoin, no longer too prolonged ago asserting its have wrapped Bitcoin product, cbBTC. Coinbase also no longer too prolonged ago restarted Bitcoin lending products and services.

10. Tesla

Electrical automobile producer Tesla joined the ranks of corporations keeping Bitcoin in December 2020, with an SEC filing revealing that the company invested “an mixture $1.5 billion” in Bitcoin. On the new time the company holds 11,509 BTC in accordance to its July 2025 10-Q, or about $1.35 billion worth.

After its first aquire, the company sold 10% of its Bitcoin holdings in Q1 2021; in accordance to CEO Elon Musk, this used to be “to hide liquidity of Bitcoin as a change to keeping cash on steadiness sheet.”

The company’s Bitcoin play adopted months of hypothesis, after CEO Elon Musk took to Twitter (aka X) to talk about the cryptocurrency. In late 2020, Strategy’s Saylor provided to portion his “playbook” for Bitcoin investing with Musk, after arguing that a trek into Bitcoin would be doing Tesla shareholders a “$100 billion resolve on.”

However, Musk and Tesla have had an on-and-off relationship with Bitcoin. After asserting that Tesla would settle for payments in Bitcoin for its merchandise and products and services in March 2021, superb two months later the CEO without warning announced that the company would no longer settle for the cryptocurrency for payments.

Arkham Intelligence believes the acceptance of Bitcoin payments fueled a soar within the Tesla Bitcoin holdings, inserting its recent treasury at 11,509 BTC when when in contrast with a as soon as widely reported 9,720 BTC in accordance to its old purchases and ensuing sales. Tesla’s most novel financial stories validate the total of 11,509.

It stays to be seen whether Tesla will add to its steadiness sheet, but Musk has mentioned that “he’s starting up to rising its Bitcoin holdings in some unspecified time in the future.”

Musk is presumably easiest identified as a alive to suggest of yet every other cryptocurrency, Dogecoin. Tesla has enabled Dogecoin purchases for some merchandise, plus Musk led the Department of Authorities Efficiency (DOGE) earlier this yr, spawning new meme cash and a swift motion upward for Dogecoin.

Further reporting by Daniel Phillips

Editor’s gift: This article used to be first printed in July 2022 and final as a lot as the moment with new basic ingredients on August 15, 2025.