Bitcoin Treasuries: Top Public Companies Holding BTC and Why It Matters
- Bitcoin treasuries refer to BTC held directly on a company's corporate balance sheet as a reserve asset — not through an ETF or fund.
- According to CoinGecko, 167 institutions collectively hold over 1.8 million BTC, representing roughly 8.62% of Bitcoin's total supply.
- Strategy Inc. is the largest corporate BTC holder globally, with 818,334 BTC as of May 3, 2026, per its SEC 8-K filing.
- Public companies added a net 50,351 BTC in Q1 2026 alone — the highest single-quarter accumulation on record, according to Bitwise.
- Most corporate BTC goes into cold storage, reducing liquid supply on exchanges and tightening market conditions over time.
- Investors can track corporate bitcoin treasury holdings in real time via CoinGecko and CoinMarketCap.
What Are Bitcoin Treasuries?
Bitcoin Treasuries: Top Public Companies and Their BTC Holdings
Strategy Inc. — The Dominant Corporate Holder
Twenty One Capital, Metaplanet, and MARA Holdings
How Corporate Bitcoin Treasuries Affect the Market
How to Track Bitcoin Treasuries
- CoinGecko Bitcoin Treasuries — covers 167+ institutions including public companies and governments, with live data on total BTC held, market value, cost basis, and unrealized profit or loss.
- CoinMarketCap Bitcoin Treasuries — provides a clean overview of corporate BTC holdings, acquisition history, and institutional adoption trends across publicly listed companies.
- mNAV (Market-Value Net Asset Value) — a key metric that compares a company's enterprise value to the current market value of its BTC holdings; a high mNAV means the market is pricing the stock at a significant premium over the underlying Bitcoin it holds.
- Sats per share — tells you how many satoshis (the smallest BTC unit) are attributable to each share of the company, giving a direct sense of your indirect BTC exposure if you hold the stock.
- % of circulating supply — shows what fraction of all Bitcoin in existence a company controls, which helps contextualize the scale of any single treasury relative to the entire BTC market.
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