Public companies now hold more than 1,000,632 BTC, a stash worth roughly $110 billion, according to BTC Treasuries. This milestone highlights the growing role of corporate treasuries in bitcoin markets and the potential impact on supply dynamics.
MicroStrategy (MSTR) sits at the center of the trend with 636,505 BTC — about 63.6% of the total. The top 10 publicly traded holders together control 863,397 BTC (~86%). Other notable positions include MARA (50,639 BTC), XXI (43,514 BTC), Bitcoin Standard Treasury (30,021 BTC), Bullish (24,000 BTC), Metaplanet (20,000 BTC), Riot (19,239 BTC), Trump Media & Technology (15,000 BTC), CleanSpark (12,703 BTC) and Coinbase (11,776 BTC).
The accumulation began in earnest with MicroStrategy’s purchases in 2020, accelerated as other firms followed (notably Metaplanet in 2024) and hit a fever pitch across 2025. Since the year’s peak, bitcoin has retreated from above $124,000 to below $110,000. Related equities have moved sharply: MicroStrategy is roughly 30% below its mid‑July peak, while Metaplanet has lost about two‑thirds of its value since late May.
Why readers should care: Large, concentrated holdings by a handful of public firms can reduce the circulating float and amplify price swings, while also signaling wider acceptance of bitcoin as a treasury instrument. That combination can increase market sensitivity to corporate buying or selling decisions.
Risk note: Corporate bitcoin allocations introduce balance‑sheet volatility and can draw closer regulatory and governance scrutiny. Investors should consider price volatility and company-level risks when evaluating related stocks or funds.
Source: CoinDesk. Read the original coverage for full details.