Public companies reach 1M Bitcoin, holding roughly 5.1% of supply
Publicly listed companies have pushed their combined Bitcoin treasuries past the one‑million coin mark, with the aggregate tally reported at 1,000,698 BTC — valued at more than $111 billion at the time of reporting. This milestone reflects a rapid wave of corporate adoption as firms add Bitcoin to their balance sheets in pursuit of potential upside and diversification.
MicroStrategy, led by Michael Saylor, remains far and away the largest corporate holder, accounting for the majority of that total with 636,505 BTC. Marathon Digital (formerly MARA) is the next largest public company holder with roughly 52,477 BTC, part of which was mined during recent months.
Several newer entrants and purpose‑built treasury companies have also accumulated meaningful positions. Jack Mallers’ XXI and the Bitcoin Standard Treasury Company hold approximately 43,514 BTC and 30,021 BTC respectively, while exchange Bullish and Japan’s Metaplanet report holdings near 24,000 BTC and 20,000 BTC. Other names rounding out the top ranks include Riot Platforms, Trump Media & Technology Group, CleanSpark and Coinbase.
Analysts and market observers say corporate buying, together with institutional products such as exchange‑traded funds, has helped tighten supply and contributed to recent price strength in Bitcoin. That combination of corporate demand and institutional channels is frequently cited as a key driver behind this cycle’s rally.
Corporate strategies for building Bitcoin treasuries have varied. Some companies raised capital through equity and debt offerings to fund purchases; others used special purpose vehicles or SPAC-based structures to accelerate Bitcoin accumulation. Several firms that adopted treasury strategies during market troughs have since seen their positions appreciated as prices recovered.
Even with this milestone, public companies are not the largest single category of holders. Exchanges and ETF issuers collectively hold a larger portion of Bitcoin, while governments, private companies and protocol reserves account for other sizable shares. The remainder of coins remains distributed among individual holders who control private keys.
As more listed companies announce accumulation plans and set multi‑year targets, market participants continue to watch how corporate demand may influence Bitcoin’s supply dynamics and price over the coming years.
