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Companies around the world are buying Bitcoin as executives who mimic stockpiling strategies that have often been unrelated to cryptocurrency.
Over the past year, the number of Bitcoins held by companies has increased by nearly 170%. According to data from bitcointreasuries.net, a total of 130 listed companies have totaled $87 billion in Bitcoin.
They are following the trail burning up by billionaire Michael Saylor, who created the micro-tactics for the software company known as the current strategy – a $100 billion company by turning it into a Bitcoin-buying vehicle with a market capitalization of 1.6 times the value of the crypto that holds it.
Saylor’s company still accounts for the majority of the company’s holdings, but companies in the US, Japanese and French are following his initiative in selling stocks and bonds and cultivating revenues to Bitcoin. This has made corporate holders a major force in the crypto market, pushing token prices to a high of over $110,000 in recent weeks.
Among those pivoting on the “Bitcoin Treasury” strategy is the Trump Family Media Company, rushing to capitalize on the president’s pledge to make the US “world’s crypto capital.” The main focus of some companies is on the purchase of Bitcoin, while others stock up on it while running other big business lines.
Many of these companies, like strategy, are worth more than the value of the crypto you own. That premium is a sign of investors’ belief that these companies can buy Bitcoin, raise money to raise stock prices and raise more money.
But Bitcoin’s Treasury Department has not yet been tested by a long-term slump in cryptocurrency prices.
According to regulatory filing and Financial Times analysis on the website Bitcointreasuries.net, the following are the companies that hold the most Bitcoin: Crypto companies such as exchanges and miners that hold large quantities of tokens as part of their business operations are excluded.
strategy
592,100
Number of Bitcoins held
When his company seriously said in August 2020 that he would sell new shares to buy and hold Bitcoin as a major reserve asset, few people seriously took MicroStrategy co-founder Michael Saylor. To the surprise of many, the market capitalization of the strategy skyrocketed faster than Bitcoin itself, as the bets paid off. Saylor then increased its purchase pace since October last year, announcing plans to raise $42 billion, split equally between stocks and debt over three years. Post last week to the company’s “Business Strategy is 100% Bitcoin. Forever.” He said he is confident that a 90% drop in Bitcoin prices will not disrupt the strategy. However, he admits that shareholders have been hit.
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21 capitals
37,230
Number of Bitcoins held
Created in May through a merger between canter equity partners run by Brandon Rutnick, the son of U.S. Secretary of Commerce Howard Rutnick, the special purpose acquisition vehicle, Twenty One, has an ambitious goal of replacing its strategy as an outstanding Bitcoin acquisition company. The company is supported by Stablecoin operator Tether and Japan’s SoftBank. Once the contract is signed, it starts with 42,000 Bitcoins Tether is purchasing on behalf of 21 people. It has purchased over 37,000 so far, and is worth nearly $3.9 billion.
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Tesla
11,509
Number of Bitcoins held
Tesla bought $1.5 billion in Bitcoin in 2021 as it was ready to begin accepting cryptocurrency payments. Elon Musk’s chief executive then abandoned these plans and the following year threw away 75% of the company’s Bitcoin, but the electric car maker once again became a key owner after recently adding stockability. Last year, Tesla reported an increase in revenue from the $600 million mark on Crypto Hoard to the market due to changes in accounting rules.
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Metaplanet
10,000
Number of Bitcoins held
The former Tokyo-based Metaplanet, a hotel developer, appeared last year as one of the most enthusiastic imitators in the model of strategy, following a “strategic pivot,” according to President Simon Gerovich. The company counts Eric Trump, the US president’s son, as a strategic adviser, and plans to increase Bitcoin Holdings to 210,000 by the end of 2027. It has urged other small businesses to use new stocks to accumulate Bitcoin, including US companies that are merging BTC Ince to form Nakamoto Holdings.
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block
8,584
Number of Bitcoins held
Co-founded and chaired by former Twitter CEO Jack Dorsey, Block first bought Bitcoin in October 2020 when it was known as Square. However, exactly a year ago, I set out to systematically invest 10% of my monthly total profit from that Bitcoin product into tokens. Dorsey believes Bitcoin will “eventually become the internet’s native currency,” and has released details about the purchasing program so other companies can follow suit.
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Preserving the next technology
5,833
Number of Bitcoins held
A Chinese AI software company once known as Wetrade Group, used its Bitcoin purchase to raise its stock price instantly. In April, U.S. stock market operator Nasdaq warned that stocks were at risk of being kicked out of the exchange as they were not compliant with the lowest price level. At the end of last year, it held just 833 bitcoins, but numbers swelled in the first quarter of this year after issuing shares and warrants to pay for a 2023 transaction that attacked an unknown seller to buy Bitcoin.
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GameStop
4,710
Number of Bitcoins held
It was the first time that a video game retailer synonymous with the 2021 Memestock trend had first purchased Bitcoin at the end of May. The $512 million acquisition was made possible by a private offering of $1.3 billion in convertible bonds. The announcement saw its stock fall by more than 10%, but this month it returned to the market with another $1.755 billion convertible bond offering, increasing it to $2.25 billion.
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Semler Scientific
4,449
Number of Bitcoins held
The US Healthcare Technology Group is an exception to the theory that when you buy Bitcoin, you put your company’s stock price at a strategy-like premium. Semler adopted cryptocurrency as the main treasury ministry last May, using excess cash to fund purchases, increasing the pace of purchases since November 2024, using newly issued shares and $100 million in convertible bonds. The stock is higher than when it announced its plans, but it doesn’t enjoy the same boost as other Bitcoin buyers. The market capitalization is roughly the same as Bitcoin’s net asset value.
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Trump Media & Technology Group
Bitcoin is “the instrument at the pinnacle of financial freedom,” according to the media group behind Truth Social App, which plans to raise $2.5 billion to create a Bitcoin Treasury. Although we haven’t laid out the timing of the purchase yet, at current prices it could be one of the largest corporate holders of the currency. The move comes as the Trump administration establishes a regulatory framework for the crypto industry that is expected to support its growth.
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