Corporate Bitcoin Holdings Surpass 1 Million BTC as Market Cools

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Publicly traded companies have officially crossed a major milestone in Bitcoin adoption. According to BTC Treasuries, firms now collectively hold 1,000,698 BTC—worth roughly $110 billion—highlighting the expanding role of corporations in the market.

BTC corporate holdings breakdown (Source: Bitcoin Treasuries)

Strategy Leads With Dominant Position

The lion’s share of those holdings belongs to Strategy (MSTR), which alone controls 636,505 BTC, accounting for more than 63% of the total. Strategy’s aggressive accumulation strategy since 2020 has cemented its place as the dominant corporate Bitcoin holder, far outpacing peers.

The concentration is striking: the top 10 companies hold 863,397 BTC, nearly 86% of all corporate holdings.

Top 10 corporate BTC holders (Source: Bitcoin Treasuries)

Other Major Corporate Holders

While Strategy grabs the headlines, several other firms have made significant allocations to the leading crypto:

MARA Holdings (MARA, US): 50,639 BTC
XXI (CEP, US): 43,514 BTC
Bitcoin Standard Treasury (BSTR, US): 30,021 BTC
Bullish (BLSH, US): 24,000 BTC
Metaplanet Inc. (MTPLF, Japan): 20,000 BTC
Riot Platforms (RIOT, US): 19,239 BTC
Trump Media & Technology Group (DJT, US): 15,000 BTC
CleanSpark (CLSK, US): 12,703 BTC
Coinbase Global (COIN, US): 11,776 BTC

This wave of adoption accelerated in this year with Japanese investment firm Metaplanet following Strategy’s lead, sparking a broader rush among corporates to add BTC to balance sheets.

Market Pullback After Frenzied Accumulation

The frenzy appears to have cooled in 2025. BTC dominance has slipped to just above 58%, while the asset itself retreated below $110,000 after hitting a record high of $124,000 earlier this year.

Corporate stocks tied to Bitcoin are also feeling the pressure. Strategy shares are down 30% since peaking in mid-July, while Metaplanet has shed nearly two-thirds of its value since its late-May high.

The fact that public companies now hold more than 1 million BTC shows how deeply Bitcoin has become embedded in global finance. While price volatility and market corrections remain part of the story, the institutionalization of Bitcoin through corporate treasuries is unlikely to reverse.

Instead, the cooling period may set the stage for the next wave of accumulation—particularly as ETFs and regulatory frameworks bring more traditional investors into the fold.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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