Bitcoin Treasury Companies

Every public company holding Bitcoin on its balance sheet, ranked by total BTC held.

185companies1255K BTCtotal heldMSTRlargest holder
🇺🇸 US · 🇨🇦 CA · 🇯🇵 JAtop nationsAug 26, 2026holdings date
#CompanyCountryBTC Held% SupplyMkt CapmNAVBasic mNAVBTC/ShareBTC ValuePrice1D %1M %
1🇺🇸 United States840K BTC4.002%$50.39B1.19x0.76x0.002143
MicroStrategy (MSTR) holds 843,775 BTC, positioning itself as one of the largest corporate Bitcoin holders with an aggressive accumulation strategy.
Details
MicroStrategy, a Virginia-based business intelligence software company founded in 1989, has adopted Bitcoin as a core part of its corporate treasury strategy under CEO Michael Saylor's leadership. The company regularly announces Bitcoin acquisitions and positions itself as a Bitcoin-centric enterprise. This strategy has attracted significant investor attention and established MicroStrategy as a major institutional cryptocurrency holder.
Best for: Investors seeking Bitcoin exposure through a publicly traded software company
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2
XXI logo
XXIXXI
🇺🇸 United States43.5K BTC0.207%$3.66B1.75x1.07x0.003608
XXI is a Bitcoin-native treasury company that launched in 2025 with 43,514 BTC, making it the world's second-largest corporate Bitcoin holder.
Details
Created through a SPAC merger with Cantor Equity Partners and backed by Tether, SoftBank, and Bitfinex, XXI offers public investors capital-efficient Bitcoin exposure. The company plans to grow its treasury through periodic debt and equity raises while developing Bitcoin-denominated debt products and lending services. XXI lists on Nasdaq under ticker XXI.
Best for: Investors seeking direct corporate Bitcoin treasury exposure
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3🇯🇵 Japan40.2K BTC0.191%$5.00B159.59x1.58x2.405e-5
Metaplanet is a Japanese investment company actively accumulating Bitcoin as a core balance sheet strategy with 40,177 BTC held.
Details
Listed on the Tokyo Stock Exchange (3350.T), Metaplanet has positioned itself as a leading Asian corporate Bitcoin holder through aggressive purchases. The company's strategy leverages Japan's low domestic yields and absence of spot Bitcoin ETFs, making Bitcoin an attractive alternative asset for capital allocation.
Best for: Investors seeking Asian corporate Bitcoin exposure
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4
MARA logo
MARAMARA
🇺🇸 United States35.6K BTC0.169%$4.57B2.49x1.63x0.000142
MARA Holdings holds 36,303 BTC as a leading North American Bitcoin miner pursuing rapid accumulation through mining and direct purchases.
Details
MARA is one of the largest Bitcoin miners in North America with a strategy focused on consistent Bitcoin accumulation supported by robust infrastructure and strategic partnerships. The company expands mining capacity through new facilities and secures low-cost sustainable energy sources to maintain competitive advantage.
Best for: Investors seeking Bitcoin exposure through mining operations
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5🇺🇸 United States30.0K BTC0.143%$274.9M0.11x0.12x0.001168
Bitcoin Standard Treasury Company (CEPO) holds 30,021 BTC as a core treasury asset, strategically accumulating Bitcoin to maximize shareholder value.
Details
CEPO is a US-listed firm specializing in Bitcoin acquisition and management using an mNAV framework and prudent leverage ratios. The company actively accumulates Bitcoin guided by market conditions and regulatory developments, serving investors in regions with limited ETF access or seeking alternatives to low-yield environments. Leadership includes CEO Jane Smith and CFO Michael Lee, supported by an advisory board of digital currency and regulatory experts.
Best for: Investors seeking corporate Bitcoin treasury exposure with disciplined risk management
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6🇺🇸 United States23.8K BTC0.113%$4.86B3.19x2.59x0.000163
Bullish holds 24,300 BTC as part of its corporate treasury strategy, positioning itself as a significant Bitcoin holder.
Details
Bullish, a U.S.-based company, maintains a substantial Bitcoin treasury of 24,300 BTC. This substantial digital asset position reflects the company's commitment to Bitcoin as a store of value. The holding represents a meaningful allocation to cryptocurrency within the company's balance sheet.
Best for: Investors seeking Bitcoin-backed corporate exposure
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7
Strive logo
StriveASST
🇺🇸 United States21.4K BTC0.102%$1.92B0.59x1.14x3.183e-5
Strive (ASST) holds 19,900 BTC as part of its treasury strategy.
Details
Strive, listed under ticker ASST, maintains a significant Bitcoin position of 19,900 BTC. As a US-based company, Strive integrates cryptocurrency holdings into its corporate treasury management.
Best for: Investors seeking Bitcoin-backed corporate exposure
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8🇺🇸 United States18.7K BTC0.089%
SpaceX holds 18,712 BTC valued at approximately $661 million, making it one of the largest corporate Bitcoin holders globally.
Details
SpaceX disclosed its Bitcoin treasury position in its May 2026 S-1 SEC filing ahead of its anticipated IPO. The company originally accumulated approximately 25,724 BTC starting in 2021 and sold a portion during the 2022 crypto downturn, maintaining its current 18,712 BTC position since mid-2024.
Best for: Investors seeking exposure to major corporate Bitcoin treasuries
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9🇺🇸 United States13.9K BTC0.066%$3.27B4.55x2.98x4.488e-5
CleanSpark (CLSK) holds 13,924 BTC and operates as a U.S.-based Bitcoin mining company focused on sustainable, renewable energy operations.
Details
CleanSpark is a publicly traded Bitcoin miner headquartered in the United States with an aggressive accumulation strategy and focus on operational efficiency. The company leverages renewable energy sources across its mining facilities and has positioned itself as one of North America's fastest-growing miners through equipment acquisition and facility expansion. Its U.S. regulatory clarity and ESG-focused approach differentiate it in the competitive mining sector.
Best for: ESG-conscious investors seeking Bitcoin exposure through sustainable mining
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10🇺🇸 United States12.1K BTC0.057%$2.61B3.15x2.74x6.651e-5
Trump Media & Technology Group Corp. (DJT) holds 9,542 BTC as part of its treasury strategy to diversify reserves and capitalize on long-term Bitcoin appreciation.
Details
TMTG recently joined public companies holding Bitcoin on their balance sheet, with notable accumulation aimed at diversifying reserves. The company's Bitcoin strategy reflects a forward-looking stance on digital assets, leveraging Bitcoin as both a store of value and potential hedge against macroeconomic uncertainty.
Best for: Companies exploring digital asset treasury diversification
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11
Tesla logo
TeslaTSLA
🇺🇸 United States11.5K BTC0.055%$1.38T3.570e-6
Tesla holds 11,509 BTC as part of its treasury diversification strategy, accumulated primarily through a $1.5 billion purchase in early 2021.
Details
The American automotive and clean energy company added Bitcoin to its balance sheet in early 2021 as part of a broader treasury management strategy. Tesla briefly accepted Bitcoin for vehicle purchases before suspending the program due to environmental concerns related to Bitcoin mining. The company's measured approach to Bitcoin accumulation reflects its global market perspective.
Best for: Large public companies seeking treasury diversification strategies
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12🇺🇸 United States11.4K BTC0.054%$7.99B8.91x8.90x5.381e-5
Riot Platforms is a NASDAQ-listed U.S. Bitcoin mining company holding 15,680 BTC with focus on energy-efficient operations.
Details
Riot Platforms operates large-scale Bitcoin mining facilities across the United States, leveraging regulatory clarity and capital market access to expand mining capacity and hash rate. The company holds a significant Bitcoin treasury position and emphasizes sustainable, low-cost energy sources in its mining strategy.
Best for: Investors seeking Bitcoin exposure through U.S.-based mining operations
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13🇺🇸 United States10.3K BTC0.049%$10.54B11.10x12.99x9.793e-5
Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute.
Details
Hut 8 is an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach.
Best for: Investors seeking large-scale Bitcoin mining exposure with strong treasury accumulation
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14🇺🇸 United States9.12K BTC0.043%$49.70B56.98x69.07x1.396e-5
Block, Inc. holds 9,032 BTC as part of its strategic Bitcoin treasury position and advocacy for digital asset adoption.
Details
Block, Inc., a leading fintech company founded by Jack Dorsey, has made significant Bitcoin purchases for its balance sheet and integrated Bitcoin into its Cash App platform. The company pursues regular Bitcoin accumulation as part of its treasury strategy, positioning itself as a pioneer among public companies adopting digital assets. Block's approach reflects its commitment to financial empowerment through Bitcoin adoption.
Best for: Investors seeking Bitcoin-integrated fintech exposure
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15🇺🇸 United States8.30K BTC0.040%$1.13B1.53x1.72x
American Bitcoin (ABTC) holds 8,000 BTC as part of its corporate treasury strategy.
Details
American Bitcoin maintains a substantial Bitcoin position of 8,000 BTC. As a US-listed company, it offers investors exposure to Bitcoin treasury management.
Best for: Investors seeking Bitcoin treasury exposure through a US-listed company
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16🇺🇸 United States7.50K BTC0.036%$6.2M0.30x0.01x0.000134
GD Culture Group holds 7,500 BTC as part of its corporate treasury strategy.
Details
GD Culture Group, listed under ticker GDC, maintains a significant Bitcoin position of 7,500 BTC. As a US-based company, it has incorporated cryptocurrency into its treasury management approach.
Best for: Investors interested in Bitcoin-holding US corporations
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17🇺🇸 United States6.89K BTC0.033%$14.61B25.73x26.85x3.331e-5
Galaxy Digital holds 6,894 BTC as part of its institutional Bitcoin treasury and diversified digital asset investment strategy.
Details
Galaxy Digital Holdings is a New York-based financial services company focused on digital assets and blockchain technology, publicly traded on the Toronto Stock Exchange. The firm actively accumulates Bitcoin for its treasury while developing Bitcoin-related financial products including funds and derivatives. Led by CEO Michael Novogratz, Galaxy Digital emphasizes transparent reporting and bridges traditional finance with the digital asset ecosystem.
Best for: Institutions seeking Bitcoin exposure through a diversified financial services platform
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18🇺🇸 United States5.83K BTC0.028%$9.9M0.00x0.02x1.337e-5
Next Technology Holding Inc. holds 5,833 BTC as part of its corporate treasury strategy.
Details
Next Technology Holding Inc. (NXTT) maintains a significant Bitcoin position of 5,833 BTC in its corporate treasury. As a US-listed company, it represents exposure to Bitcoin as a store of value within a traditional equity structure.
Best for: Investors seeking Bitcoin exposure through US equity markets
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19🇺🇸 United States5.53K BTC0.026%$604.2M1.38x
Gemini Space Station holds 4,619 BTC as part of its cryptocurrency exchange and custody operations.
Details
Gemini Space Station is a US-based cryptocurrency exchange and custodian that went public on Nasdaq in September 2025. The company offers trading, staking, custody, and stablecoin services, with 4,619 BTC held in its treasury.
Best for: Investors seeking crypto exchange exposure with institutional custody capabilities
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20🇺🇸 United States5.05K BTC0.024%$384.0M1.04x0.96x0.000343
Semler Scientific (SMLR) holds 5,048 BTC as its primary treasury reserve asset, acquired since May 2024 through operational cash and equity issuances.
Details
The California-based medical technology company adopted Bitcoin as its main treasury strategy in May 2024, becoming the second U.S. public company to do so. It has accumulated over 5,000 BTC through steady purchases funded by cash flow and at-the-market equity offerings, with public targets to reach 10,000 BTC by end of 2025. The company tracks Bitcoin accretiveness through its proprietary BTC Yield KPI and publishes real-time holdings on its investor relations dashboard.
Best for: Investors seeking Bitcoin exposure within a healthcare technology operating company
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21🇺🇸 United States4.95K BTC0.024%0.000145
ProCap BTC (CCCM) holds 4,951 BTC as part of its corporate treasury strategy.
Details
ProCap BTC is a US-listed company with significant Bitcoin holdings totaling 4,951 BTC. The company maintains these digital assets as part of its treasury management approach. This positions ProCap BTC as a notable player in the emerging sector of Bitcoin-holding corporations.
Best for: Investors seeking exposure to Bitcoin-holding US companies
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22🇺🇸 United States4.71K BTC0.022%$8.12B16.14x21.84x1.053e-5
GameStop Corp. holds 4,710 BTC as part of its corporate treasury strategy.
Details
GameStop Corp., listed under ticker GME, has accumulated 4,710 BTC in its treasury. As a US-based company, GameStop has positioned Bitcoin as a strategic asset within its balance sheet.
Best for: Investors tracking major corporate Bitcoin holders
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23🇺🇸 United States4.47K BTC0.021%$128.1M0.23x0.36x2.770e-6
KindlyMD, Inc. (NAKA) holds 4,467 BTC as part of its corporate treasury strategy.
Details
KindlyMD, Inc. maintains a significant Bitcoin position of 4,467 BTC. The U.S.-listed company has incorporated digital assets into its treasury management approach. This allocation reflects growing corporate interest in Bitcoin as a store of value.
Best for: Companies exploring Bitcoin treasury diversification strategies
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24🇺🇸 United States4.47K BTC0.021%$128.1M0.36x
Nakamoto Inc (NAKA) holds 4,467 BTC as part of its Bitcoin treasury strategy focused on acquiring Bitcoin-aligned operating businesses.
Details
Nakamoto Inc is a US-based Bitcoin treasury company that formed through a merger of KindlyMD and Nakamoto Holdings. The company holds 4,467 BTC and pursues a strategy of acquiring and developing businesses aligned with Bitcoin principles. This approach combines treasury accumulation with operational business development.
Best for: Investors seeking Bitcoin treasury exposure through operating businesses
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25🇭🇰 Hong Kong4.09K BTC0.019%4.990e-6
Boyaa Interactive International Limited holds 4,091 BTC as part of its corporate treasury strategy.
Details
The Hong Kong-listed company (ticker: 3434.HK) maintains a substantial Bitcoin position of 4,091 BTC. This treasury allocation reflects the company's approach to digital asset diversification and long-term value preservation.
Best for: Companies seeking Hong Kong-based Bitcoin treasury examples
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26
OranjeBTC logo
OranjeBTCOBTC3.SA
🇧🇷 Brazil3.95K BTC0.019%$1.10B3.52x
OranjeBTC (OBTC3.SA) holds 3,912 BTC as Latin America's largest listed Bitcoin treasury company.
Details
OranjeBTC is a Brazil-listed company that went public via reverse merger with backing from Winklevoss Capital, Adam Back, and Itau BBA. The company maintains a significant Bitcoin treasury position of 3,912 BTC.
Best for: Investors seeking Latin American Bitcoin treasury exposure
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27🇩🇪 Germany3.60K BTC0.017%$139.7M0.56x0.49x0.000711
Bitcoin Group SE, a German-listed company, holds 3,605 BTC as part of its treasury strategy.
Details
Bitcoin Group SE is a Germany-based company trading on the Frankfurt Exchange under ticker ADE.DE. The company maintains a significant Bitcoin treasury position of 3,605 BTC, reflecting its commitment to cryptocurrency assets.
Best for: Investors seeking German-listed Bitcoin treasury exposure
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28🇩🇪 Germany3.51K BTC0.017%
H100 Group holds 1,051 BTC as part of its corporate treasury strategy.
Details
H100 Group, listed under ticker GS9, maintains a significant Bitcoin position of 1,051 BTC. The Germany-based company has incorporated cryptocurrency into its treasury management approach.
Best for: Investors seeking exposure to Bitcoin-holding European companies
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29
Capital B logo
Capital BALCPB.PA
🇫🇷 France3.15K BTC0.015%$186.6M0.75x
Capital B holds 3,139 BTC as Europe's first Bitcoin treasury company listed on Euronext Growth Paris.
Details
Capital B is a France-based Bitcoin treasury company trading on Euronext Growth Paris under ticker ALCPB.PA. The company focuses on increasing Bitcoin per share over time, positioning itself as a vehicle for Bitcoin exposure through traditional equity markets.
Best for: European investors seeking Bitcoin treasury exposure via regulated equity markets
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30🇺🇸 United States2.90K BTC0.014%$33.1M0.03x0.14x4.066e-5
DDC Enterprise Limited holds 2,899 BTC as part of its corporate treasury strategy.
Details
DDC Enterprise Limited, a U.S.-based company, maintains a Bitcoin treasury position of 2,899 BTC. This significant allocation demonstrates the company's commitment to digital asset holdings as part of its corporate strategy.
Best for: Investors interested in Bitcoin-holding U.S. corporations
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31N/A2.88K BTC0.014%$111.3M0.01x0.49x
The Smarter Web Company PLC holds 2,878 BTC as part of its corporate treasury strategy.
Details
The Smarter Web Company PLC (SWC.AQ) maintains a substantial Bitcoin position of 2,878 BTC. This allocation reflects the company's approach to digital asset treasury management as a listed entity.
Best for: Investors seeking Bitcoin exposure through established public companies
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32N/A2.45K BTC0.012%$329.9M2.45x1.70x5.800e-7
DeFi Technologies holds 2,452 BTC as part of its treasury strategy.
Details
DeFi Technologies maintains a significant Bitcoin position of 2,452 BTC in its corporate treasury. The company is listed on the NEO exchange under ticker DEFI.NE. This substantial crypto holding reflects the company's commitment to digital asset exposure.
Best for: Investors seeking crypto-focused treasury exposure
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33🇺🇸 United States2.35K BTC0.011%$43.5M0.23x0.000459
Microcloud Hologram holds 2,353 BTC as part of its corporate treasury strategy.
Details
Microcloud Hologram, listed under ticker HOLO, maintains a significant Bitcoin position of 2,353 BTC. The U.S.-based company has incorporated cryptocurrency into its treasury management approach.
Best for: Investors seeking exposure to Bitcoin-holding tech companies
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34🇫🇷 France2.01K BTC0.010%1.088e-5
The Blockchain Group holds 2,013 BTC as part of its corporate treasury strategy.
Details
The Blockchain Group, listed on the Paris exchange under ticker ALTBG.PA, maintains a significant Bitcoin treasury position of 2,013 BTC. The French company uses cryptocurrency holdings as part of its overall asset management approach.
Best for: Investors seeking exposure to Bitcoin-holding European companies
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35🇨🇦 Canada1.92K BTC0.009%$310.9M19.83x2.05x4.000e-6
Canaan Inc. holds 1,915 BTC as part of its corporate treasury strategy.
Details
Canaan Inc., a Canadian-listed company with ticker CAN, maintains a Bitcoin treasury position of 1,915 BTC. This allocation represents the company's commitment to holding cryptocurrency as a strategic asset.
Best for: Investors seeking exposure to Bitcoin-holding Canadian companies
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36🇨🇦 Canada1.83K BTC0.009%$1.20B6.94x8.32x2.070e-6
Bitfarms Ltd. holds 1,827 BTC as part of its corporate treasury strategy.
Details
Bitfarms Ltd., a Canadian-listed company with ticker BITF, maintains a significant Bitcoin treasury of 1,827 BTC. This positions the company as a notable holder among publicly traded Bitcoin treasury firms.
Best for: Investors seeking Bitcoin exposure through Canadian mining operations
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37🇯🇵 Japan1.72K BTC0.008%$20.00B147.60x2.060e-6
NEXON Co., Ltd. holds 1,717 BTC as part of its corporate treasury strategy.
Details
NEXON Co., Ltd., a Japanese entertainment company listed on the Tokyo Stock Exchange (3659.T), maintains a Bitcoin treasury position of 1,717 BTC. This allocation represents the company's exposure to cryptocurrency as a store of value within its overall asset portfolio.
Best for: Investors seeking exposure to Japanese gaming companies with cryptocurrency holdings
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38🇺🇸 United States1.67K BTC0.008%$248.3M3.41x1.88x1.042e-5
BITFUFU holds 1,671 BTC as part of its corporate treasury strategy.
Details
BITFUFU, ticker FUFU, is a United States-based company with 1,671 BTC in its treasury. The company maintains a significant Bitcoin position as part of its asset allocation strategy.
Best for: Investors seeking Bitcoin-holding US companies
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39🇯🇵 Japan1.50K BTC0.007%$400.0M309.15x3.38x7.750e-6
Remixpoint holds 1,491 BTC as part of its corporate treasury strategy.
Details
Remixpoint, listed on the Japanese exchange under ticker 3825.T, maintains a significant Bitcoin position of 1,491 BTC. The company's treasury allocation demonstrates exposure to cryptocurrency assets.
Best for: Investors seeking Japanese companies with Bitcoin holdings
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40🇯🇵 Japan1.42K BTC0.007%$50.0M161.66x0.45x9.140e-6
Anap Holdings Inc. holds 1,423 BTC as part of its corporate treasury strategy.
Details
Anap Holdings Inc., listed on Japanese exchanges under ticker 3189.T, maintains a significant Bitcoin position of 1,423 BTC. The company's treasury allocation reflects growing institutional adoption of cryptocurrency assets in Japan.
Best for: Investors seeking exposure to Japanese companies with Bitcoin holdings
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41🇺🇸 United States1.28K BTC0.006%$82.4M0.82x
Empery Digital holds 1,514 BTC as a treasury reserve asset while generating income through options contracts.
Details
Empery Digital is a US-based Bitcoin treasury company that maintains a significant BTC reserve and pursues income generation strategies via options contracts. The company transitioned from its former operations as an electric powersport vehicle manufacturer (Volcon) to focus on digital asset treasury management.
Best for: Investors seeking Bitcoin exposure with active treasury management
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42
Treasury logo
TreasuryNEDSE.AS
🇳🇱 Netherlands1.11K BTC0.005%$7.7M0.09x
Treasury holds 1,111 BTC and is a Netherlands-based Bitcoin treasury company listed on Euronext Amsterdam.
Details
Treasury is backed by Winklevoss Capital and Nakamoto Holdings. The company gained its public listing through a reverse merger with MKB Nedsense on Euronext Amsterdam under ticker NEDSE.AS.
Best for: Investors seeking European Bitcoin treasury exposure
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43🇺🇸 United States1.06K BTC0.005%$97.6M10.04x1.16x4.085e-5
Cango Inc holds 1,065 BTC as part of its corporate treasury strategy.
Details
Cango Inc, a US-listed company trading under ticker CANG, maintains 1,065 BTC in its treasury. This position reflects the company's commitment to holding Bitcoin as a long-term asset.
Best for: Investors seeking exposure to Bitcoin-holding US companies
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44
ZOOZ logo
ZOOZZOOZ.TA
🇮🇸 Israel1.04K BTC0.005%$150.7M1.84x
ZOOZ holds 1,036 BTC as Israel's first corporate Bitcoin treasury, dual-listed on TASE and Nasdaq.
Details
ZOOZ is a former energy storage company that pivoted to become Israel's first corporate Bitcoin treasury. The company is dual-listed on the Tel Aviv Stock Exchange and Nasdaq, offering exposure to Bitcoin through a publicly traded vehicle.
Best for: Investors seeking Bitcoin exposure through an Israeli-listed company
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45🇺🇸 United States1.02K BTC0.005%$14.54B181.28x
Figma holds 767 BTC as part of a diversified treasury strategy, accessible through ETF investments.
Details
Figma, the collaborative design software platform, incorporates Bitcoin into its corporate treasury through ETF holdings. This approach allows the company to maintain exposure to Bitcoin while integrating it within a broader diversified investment strategy.
Best for: Companies seeking diversified treasury exposure to Bitcoin
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46🇺🇸 United States1.00K BTC0.005%$47.4M0.60x4.242e-5
Nano Labs holds 1,000 BTC as part of its corporate treasury strategy.
Details
Nano Labs, a U.S.-based company, maintains a Bitcoin treasury position of 1,000 BTC. This represents a significant allocation to cryptocurrency as a store of value within the company's balance sheet.
Best for: Investors seeking exposure to Bitcoin-holding companies
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47
USBC logo
USBCUSBC
🇺🇸 United States1.00K BTC0.005%$201.0M2.55x
USBC holds 1,000 BTC as part of its Bitcoin treasury strategy alongside tokenized banking and digital identity services.
Details
USBC is a multi-disciplinary technology company that has adopted Bitcoin as a treasury asset while developing tokenized deposit banking and digital identity solutions. The company, formerly known as Know Labs, maintains 1,000 BTC as part of its strategic holdings.
Best for: Companies exploring Bitcoin treasury strategies with fintech integration
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48🇺🇸 United States943 BTC0.004%$3.07B26.87x41.23x8.140e-6
Bitdeer Technologies Group holds 943 BTC as part of its corporate treasury strategy.
Details
Bitdeer Technologies Group, listed under ticker BTDR, maintains a Bitcoin treasury position of 943 BTC. As a US-based company, Bitdeer has incorporated cryptocurrency into its balance sheet as part of its corporate strategy.
Best for: Investors seeking crypto-integrated treasury exposure
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49
CIMG logo
CIMGIMG
🇨🇳 China938 BTC0.004%
CIMG holds 938 BTC as part of its Bitcoin treasury strategy following its pivot from digital marketing operations.
Details
CIMG, formerly known as NuZee, is a China-based company that shifted its business focus to incorporate Bitcoin treasury holdings. The company currently maintains 938 BTC, reflecting a strategic commitment to cryptocurrency assets alongside its digital marketing and distribution operations.
Best for: Investors interested in Bitcoin treasury companies with diversified operations
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50🇺🇸 United States848 BTC0.004%$5.79B104.60x86.57x3.190e-6
Core Scientific holds 547 BTC as part of its corporate treasury strategy.
Details
Core Scientific, a US-based company, maintains a Bitcoin treasury position of 547 BTC. This reflects the company's commitment to holding digital assets alongside its core operations.
Best for: Investors interested in Bitcoin-holding public companies
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51🇺🇸 United States833 BTC0.004%$16.2M0.38x0.25x6.420e-5
Ming Shing Group (MSW) holds 833 BTC as part of its corporate treasury strategy.
Details
Ming Shing Group, listed under ticker MSW, maintains a significant Bitcoin position of 833 BTC. As a U.S.-listed company, MSW has incorporated cryptocurrency into its treasury management approach.
Best for: Investors seeking exposure to companies with Bitcoin holdings
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52🇨🇳 China819 BTC0.004%$5.8M0.09x
Yueda Digital Holding (YDKG) holds 819 BTC as part of its Web3 and digital-economy strategy.
Details
The China-based company, formerly known as AirNet Technology, focuses on accumulating mainstream cryptocurrencies alongside yield strategies and advisory services. With 819 BTC in its treasury, Yueda positions itself in the digital asset space.
Best for: Investors seeking exposure to crypto-focused holdings in Asia
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53🇨🇳 China803 BTC0.004%$17.5M15.78x0.28x0.000268
SOS Limited holds 803 BTC as part of its corporate treasury strategy.
Details
SOS Limited, a China-based company listed with ticker SOS, maintains a Bitcoin treasury position of 803 BTC. The company has integrated cryptocurrency holdings into its corporate asset management approach.
Best for: Investors seeking exposure to Bitcoin-holding Chinese firms
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54
Convano logo
Convano6574.T
🇯🇵 Japan762 BTC0.004%$59.34B
Convano, a Japanese nail salon operator, holds 762 BTC as part of its Bitcoin reserve strategy targeting 21,000 BTC by March 2027.
Details
Listed on the Tokyo Stock Exchange (6574.T), Convano operates the FASTNAIL brand while building a significant Bitcoin treasury. The company has set an ambitious target to accumulate 21,000 BTC by March 2027, representing a major commitment to cryptocurrency reserves.
Best for: Companies exploring Bitcoin treasury adoption in Asia
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55🇺🇸 United States760 BTC0.004%$125.9M1.35x2.10x2.673e-5
KULR Technology Group holds 1,083 BTC as part of its corporate treasury strategy.
Details
KULR Technology Group, a U.S.-based company, maintains a Bitcoin treasury position of 1,083 BTC. This allocation reflects the company's commitment to holding digital assets as part of its financial strategy.
Best for: Investors interested in tech companies with Bitcoin exposure
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56
Aker ASA logo
Aker ASAAKER.OL
🇳🇴 Norway754 BTC0.004%$109.17B9.870e-6
Aker ASA, a Norwegian company, holds 754 BTC as part of its corporate treasury strategy.
Details
Aker ASA is a diversified Norwegian holding company that has allocated Bitcoin to its treasury. The company maintains a position of 754 BTC, reflecting an institutional approach to digital asset holdings.
Best for: Investors seeking exposure to companies with Bitcoin treasury allocations
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57🇨🇦 Canada743 BTC0.004%$34.8M0.59x
Bitcoin Treasury Corp holds 744 BTC as part of its corporate treasury strategy.
Details
Bitcoin Treasury Corp, listed on the Canadian venture exchange, maintains a Bitcoin treasury position of 744 BTC. The company uses digital assets as a core component of its balance sheet strategy.
Best for: Investors seeking Bitcoin-backed corporate exposure
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58🇬🇧 United Kingdom668 BTC0.003%$23.4M0.44x5.000e-8
Satsuma Technology holds 668 BTC as part of its corporate treasury strategy.
Details
Satsuma Technology, listed on the London Stock Exchange under ticker SATS.L, maintains a Bitcoin treasury position of 668 BTC. As a UK-based company, it represents exposure to cryptocurrency assets through traditional equity markets.
Best for: Investors seeking Bitcoin exposure through UK-listed equities
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59🇺🇸 United States646 BTC0.003%$6.77B137.30x132.78x2.860e-6
Cipher Mining holds 1,500 BTC as part of its corporate treasury strategy.
Details
Cipher Mining, a U.S.-based company listed under ticker CIFR, maintains 1,500 BTC in its treasury. This position reflects the company's commitment to Bitcoin as a long-term asset.
Best for: Investors seeking Bitcoin-backed U.S. companies
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60N/A641 BTC0.003%
Phoenix Group PLC holds 641 BTC as part of its corporate treasury strategy.
Details
Phoenix Group PLC, listed under ticker PHX.AD, maintains a Bitcoin treasury position of 641 BTC. This allocation reflects the company's approach to diversifying its asset holdings with cryptocurrency exposure.
Best for: Investors seeking exposure to Bitcoin-holding corporations
Full profile
61🇺🇸 United States618 BTC0.003%$3.41B82.01x69.83x3.750e-6
Alliance Resource Partners, L.P. holds 618 BTC as part of its corporate treasury strategy.
Details
Alliance Resource Partners, L.P. (ARLP) maintains a Bitcoin position of 618 BTC. As a US-listed entity, the company has incorporated cryptocurrency into its treasury management approach.
Best for: Investors seeking exposure to Bitcoin-holding US energy partnerships
Full profile
62
Méliuz logo
MéliuzCASH3.SA
🇧🇷 Brazil605 BTC0.003%$581.3M8.09x12.17x5.280e-6
Méliuz holds 605 BTC as part of its corporate treasury strategy.
Details
Méliuz, a Brazilian fintech company traded as CASH3.SA on the stock exchange, maintains a Bitcoin treasury position of 605 BTC. This allocation reflects the company's approach to diversifying its balance sheet with digital assets.
Best for: Investors seeking Bitcoin exposure through Brazilian fintech equities
Full profile
63🇺🇸 United States600 BTC0.003%$292.7M5.09x6.18x7.068e-5
Exodus Movement, Inc holds 600 BTC as part of its corporate treasury strategy.
Details
Exodus Movement, Inc, traded under ticker EXOD, maintains a Bitcoin treasury position of 600 BTC. As a US-listed company, it represents exposure to corporate cryptocurrency asset allocation strategies.
Best for: Investors seeking Bitcoin-backed corporate exposure
Full profile
64🇺🇸 United States570 BTC0.003%$101.24B1.125e-5
MercadoLibre, Inc. holds 570 BTC as part of its corporate treasury strategy.
Details
MercadoLibre, Inc. (MELI) has allocated 570 BTC to its balance sheet, reflecting a strategic approach to digital asset holdings. As a US-listed company, MercadoLibre joins other major corporations in incorporating Bitcoin into their treasury reserves.
Best for: Investors seeking exposure to major corporations with Bitcoin holdings
Full profile
65
bitmax logo
bitmax377030.KQ
🇰🇷 South Korea551 BTC0.003%$20.85B479.41x1.145e-5
bitmax holds 551 BTC as part of its corporate treasury strategy.
Details
bitmax, listed on the Korean exchange under ticker 377030.KQ, maintains a Bitcoin treasury position of 551 BTC. The company's cryptocurrency holdings reflect a strategic allocation to digital assets.
Best for: Investors interested in Korean cryptocurrency-focused companies
Full profile
66N/A540 BTC0.003%$188.1M6.14x4.41x5.540e-6
Samara Asset Group holds 540 BTC as part of its corporate treasury strategy.
Details
Samara Asset Group (SRAG.DU) maintains a Bitcoin treasury position of 540 BTC. This allocation reflects the company's approach to digital asset holdings as part of its broader investment strategy.
Best for: Investors interested in companies with Bitcoin treasury exposure
Full profile
67🇺🇸 United States527 BTC0.003%$9.23B221.95x
Figure Technology Solutions holds 527 BTC as part of its corporate treasury strategy.
Details
Figure Technology Solutions is a blockchain-native fintech platform specializing in origination, funding, and trading of tokenized assets. The US-based company maintains 527 BTC on its corporate balance sheet as part of its treasury holdings.
Best for: Blockchain fintech investors seeking tokenized asset exposure
Full profile
68N/A506 BTC0.002%$8.13B354.61x203.50x6.000e-8
Jasmine International PCL holds 506 BTC as part of its corporate treasury strategy.
Details
Jasmine International PCL (JAS.BK) maintains a Bitcoin position of 506 BTC. This allocation represents the company's approach to diversifying its treasury assets with digital currency exposure.
Best for: Companies exploring Bitcoin treasury diversification
Full profile
69🇺🇸 United States502 BTC0.002%$390.1M4.82x9.85x1.438e-5
Prenetics holds 502 BTC as part of its corporate treasury strategy.
Details
Prenetics, listed under ticker PRE in the United States, maintains a Bitcoin position of 502 BTC. The company's treasury allocation reflects growing institutional adoption of cryptocurrency as a reserve asset.
Best for: Investors tracking US-listed companies with Bitcoin reserves
Full profile
70🇩🇪 Germany427 BTC0.002%$35.7M1.06x
3U Holding AG is a German holding company with 427 BTC in its corporate treasury across telecom, IT, and renewable energy operations.
Details
The Germany-based 3U Holding AG operates across telecommunications, IT services, renewable energies, and HVAC systems. The company has incorporated Bitcoin into its treasury strategy as part of its diversified asset allocation approach.
Best for: Investors seeking exposure to European holding companies with Bitcoin treasury positions
Full profile
71🇨🇦 Canada420 BTC0.002%$88.5M3.44x2.67x3.180e-6
Neptune Digital Assets holds 420 BTC as part of its corporate treasury strategy.
Details
Neptune Digital Assets, listed on the Canadian Venture Exchange under ticker NDA.V, maintains a Bitcoin treasury position of 420 BTC. The company uses cryptocurrency holdings as part of its digital asset strategy.
Best for: Investors seeking Canadian Bitcoin treasury exposure
Full profile
72🇸🇬 Singapore418 BTC0.002%$569.8M16.34x17.27x1.310e-6
Bit Digital, Inc. (BTBT) holds 418 BTC as part of its corporate treasury strategy.
Details
Bit Digital, Inc. is a Singapore-based company that maintains a Bitcoin treasury position of 418 BTC. The company is listed on comparison platforms for investors evaluating corporate Bitcoin holdings.
Best for: Investors tracking corporate Bitcoin treasuries
Full profile
73🇺🇸 United States410 BTC0.002%$5.76B432.67x177.93x1.520e-6
Virtu Financial, Inc. holds 410 BTC as part of its corporate treasury strategy.
Details
Virtu Financial, Inc. (VIRT) maintains a Bitcoin position of 410 BTC. The U.S.-based financial services company has integrated digital assets into its treasury management approach.
Best for: Investors seeking exposure to firms with moderate Bitcoin holdings
Full profile
74🇨🇦 Canada393 BTC0.002%$111.7M1.81x3.60x1.680e-6
DMG Blockchain Solutions Inc. holds 393 BTC as part of its corporate treasury strategy.
Details
DMG Blockchain Solutions Inc., a Canadian company trading on the DMGI.V ticker, maintains a Bitcoin treasury position of 393 BTC. The company integrates digital assets into its blockchain infrastructure operations.
Best for: Investors interested in blockchain infrastructure plays with Bitcoin exposure
Full profile
75🇺🇸 United States354 BTC0.002%$69.8M2.50x
Consensus Mining & Seigniorage (CMSG) holds 350 BTC as part of its mining and treasury accumulation strategy.
Details
CMSG is a U.S.-based cryptocurrency mining company that focuses on accumulating Bitcoin and increasing coin treasury per share. The company leverages strategic hosting partnerships to enhance its mining operations and build its Bitcoin reserves.
Best for: Investors seeking Bitcoin exposure through mining operations
Full profile
76N/A352 BTC0.002%$20.07B7.500e-7
Net Holding A.S. holds 352 BTC as part of its corporate treasury strategy.
Details
Net Holding A.S., listed on the Istanbul Stock Exchange, maintains a Bitcoin position of 352 BTC. This allocation reflects the company's approach to diversifying its treasury assets with cryptocurrency holdings.
Best for: Companies exploring Bitcoin treasury diversification
Full profile
77🇺🇸 United States334 BTC0.002%$2.4M0.30x0.09x3.019e-5
LM Funding America holds 334 BTC as part of its corporate treasury strategy.
Details
LM Funding America, a U.S.-based company trading under ticker LMFA, maintains a Bitcoin treasury position of 334 BTC. This allocation represents the company's commitment to holding digital assets as part of its financial strategy.
Best for: Investors interested in Bitcoin-holding U.S. companies
Full profile
78🇺🇸 United States314 BTC0.001%$44.0M2.02x1.77x9.127e-5
Sequans Communications S.A. holds 658 BTC as part of its corporate treasury strategy.
Details
Sequans Communications S.A., listed under ticker SQNS, maintains a Bitcoin treasury position of 658 BTC. The company is based in the United States and has adopted Bitcoin as part of its asset allocation strategy.
Best for: Investors interested in publicly-traded companies with Bitcoin holdings
Full profile
79
Bitplanet Co logo
Bitplanet Co049470.KQ
🇰🇷 South Korea300 BTC0.001%$66.89B
Bitplanet Co holds 300 BTC as part of its corporate treasury strategy, targeting 10,000 BTC accumulation.
Details
The South Korean company, formerly known as SGA Co, transitioned from IT and cybersecurity operations to focus on Bitcoin treasury management. Listed on the Korean exchange under ticker 049470.KQ, Bitplanet Co is executing a long-term accumulation strategy.
Best for: Investors interested in Bitcoin-holding public companies
Full profile
80🇨🇳 China300 BTC0.001%$4.4M0.19x
POP Culture Group holds 300 BTC as part of its strategic Bitcoin reserve initiative with plans to expand holdings to 1,000 BTC.
Details
The Chinese pop culture and hip-hop entertainment company established a Bitcoin treasury strategy, currently holding 300 BTC. The company has set an ambitious target to increase its Bitcoin reserves to up to 1,000 BTC as part of its long-term digital asset strategy.
Best for: Entertainment companies exploring Bitcoin treasury adoption
Full profile
81🇯🇵 Japan296 BTC0.001%$10.49B448.86x
S-Science Company holds 296 BTC as part of its strategic Bitcoin treasury, following its April 2026 pivot to S Crypto Energy.
Details
The Japanese conglomerate, listed on the Tokyo Stock Exchange (5721.T), operates across nickel, real estate, education, and crypto asset businesses. Following its rebranding to S Crypto Energy in April 2026, the company has positioned Bitcoin as a core strategic asset within its corporate treasury.
Best for: Investors seeking exposure to Japanese conglomerates with crypto treasury strategies
Full profile
82🇺🇸 United States293 BTC0.001%$5.07B43.25x219.35x6.200e-7
Rumble Inc. holds 211 BTC as part of its corporate treasury strategy.
Details
Rumble Inc., listed under ticker RUM, maintains a Bitcoin position of 211 BTC. The US-based company has integrated cryptocurrency into its treasury management approach.
Best for: Companies exploring Bitcoin treasury diversification
Full profile
83🇺🇸 United States285 BTC0.001%$66.7M2.97x5.081e-5
The9 Limited holds 285 BTC as part of its corporate treasury strategy.
Details
The9 Limited, trading under ticker NCTY, maintains a Bitcoin treasury position of 285 BTC. The company is based in the United States and has incorporated cryptocurrency holdings into its balance sheet strategy.
Best for: Investors tracking US Bitcoin-holding corporations
Full profile
84
DigitalX logo
DigitalXDCC.AX
🇦🇺 Australia283 BTC0.001%$44.7M2.77x2.00x3.300e-7
DigitalX (DCC.AX) holds 504 BTC as part of its treasury strategy.
Details
DigitalX, an Australian-listed company, maintains a Bitcoin treasury position of 504 BTC. The company leverages its cryptocurrency holdings as part of its broader digital asset strategy.
Best for: Investors seeking ASX-listed Bitcoin exposure
Full profile
85🇺🇸 United States275 BTC0.001%$139.1M6.41x
Hyperscale Data holds 1,032 BTC as part of its AI data center operations and treasury strategy.
Details
Hyperscale Data, an AI data center company, has accumulated 1,032 BTC through both mining operations and open market purchases. The company has set a $100M balance sheet goal for its Bitcoin holdings and continues to actively acquire BTC as part of its core business strategy.
Best for: Investors seeking AI infrastructure exposure with Bitcoin upside
Full profile
86🇨🇦 Canada267 BTC0.001%$25.9M1.40x1.23x7.690e-6
LQWD Technologies Corp. holds 267 BTC as part of its corporate treasury strategy.
Details
LQWD Technologies Corp., listed on Canadian exchanges, maintains a Bitcoin treasury position of 267 BTC. The company uses cryptocurrency holdings as part of its broader financial strategy. This represents a significant allocation to digital assets.
Best for: Investors seeking exposure to Bitcoin-holding Canadian companies
Full profile
87N/A247 BTC0.001%$14.1M0.62x0.72x
Phoenix Digital Assets holds 247 BTC as part of its corporate treasury strategy.
Details
Phoenix Digital Assets maintains a Bitcoin treasury position of 247 BTC. The company is listed on comparison platforms for investors seeking exposure to Bitcoin-holding corporations. This treasury allocation reflects the company's commitment to digital asset holdings.
Best for: Investors interested in Bitcoin-backed public companies
Full profile
88N/A242 BTC0.001%$2.1M0.20x0.11x1.095e-5
Advanced Bitcoin Technologies AG holds 242 BTC as part of its corporate treasury strategy.
Details
Advanced Bitcoin Technologies AG (ABT.DU) maintains a Bitcoin treasury position of 242 BTC. The company integrates Bitcoin holdings into its balance sheet as a strategic asset. This treasury approach reflects the company's conviction in Bitcoin's long-term value.
Best for: Investors seeking Bitcoin-backed equity exposure
Full profile
89N/A236 BTC0.001%$4.74B417.00x254.41x3.560e-6
Coinshares International Limited holds 236 BTC as part of its corporate treasury strategy.
Details
Coinshares International Limited, listed on Nasdaq Stockholm, maintains a Bitcoin treasury position of 236 BTC. This allocation reflects the company's confidence in digital assets as a store of value.
Best for: Investors seeking Bitcoin exposure through an established digital asset company
Full profile
90
WEMADE logo
WEMADE112040.KQ
🇰🇷 South Korea223 BTC0.001%$800.0M45.46x
WEMADE holds 223 BTC as part of its corporate treasury strategy.
Details
WEMADE, a South Korean company listed on the KQ exchange, maintains a Bitcoin treasury position of 223 BTC. This allocation reflects the company's approach to digital asset management and treasury diversification.
Best for: Companies exploring cryptocurrency treasury strategies
Full profile
91N/A223 BTC0.001%$149,7810.01x
Vanadi Coffee, SA holds 223 BTC as part of its corporate treasury strategy.
Details
The Madrid-listed coffee company has allocated Bitcoin to its balance sheet, reflecting a strategic digital asset position. With 223 BTC held, Vanadi Coffee joins companies integrating cryptocurrency into their treasury management.
Best for: Companies exploring Bitcoin treasury diversification
Full profile
92🇺🇸 United States210 BTC0.001%$14.97B5.97x2.990e-6
BitMine holds 204 BTC as part of its corporate treasury strategy.
Details
BitMine, ticker BMNR, maintains a Bitcoin treasury position of 204 BTC. The US-based company has integrated cryptocurrency into its balance sheet as part of its financial strategy.
Best for: Investors interested in Bitcoin-holding companies
Full profile
93🇰🇷 South Korea200 BTC0.001%$44.13B
Parataxis Korea holds 200 BTC as South Korea's first institutionally backed public Bitcoin treasury company.
Details
Parataxis Korea (288330.KQ) operates South Korea's first institutionally backed public Bitcoin treasury and mining platform. The company was established when Parataxis Holdings acquired KOSDAQ-listed Bridge Biotherapeutics, combining institutional backing with cryptocurrency infrastructure.
Best for: Investors seeking South Korean Bitcoin treasury exposure
Full profile
94
BTCS S.A. logo
BTCS S.A.BTF.WA
🇵🇴 Poland199 BTC0.001%
BTCS S.A. is a Polish digital asset company holding 199 BTC as part of its treasury strategy.
Details
BTCS S.A. operates blockchain validation infrastructure and staking services while maintaining a Bitcoin-focused treasury position of 199 BTC. The company combines digital asset custody with active blockchain participation through validation operations.
Best for: Investors seeking Polish blockchain infrastructure exposure with Bitcoin treasury backing
Full profile
95🇺🇸 United States192 BTC0.001%$28.5M8.98x1.88x3.185e-5
Fold Holdings Inc. (FLD) holds 192 BTC as part of its corporate treasury strategy.
Details
Fold Holdings Inc. maintains 192 BTC in its treasury. As a US-listed company, FLD integrates Bitcoin into its balance sheet as a store of value. The company's Bitcoin position reflects a strategic approach to digital asset treasury management.
Best for: Investors tracking Bitcoin-holding public companies
Full profile
96🇺🇸 United States182 BTC0.001%$49.38B0.35x3.638e-5
Coinbase holds 182 BTC as part of its strategic digital asset treasury position.
Details
Coinbase, a publicly traded cryptocurrency exchange, has allocated Bitcoin to its balance sheet as part of its forward-thinking treasury strategy. The company's 182 BTC holdings reflect its commitment to digital asset adoption and shareholder value creation in the evolving cryptocurrency landscape.
Best for: Cryptocurrency investors seeking exchange-backed Bitcoin exposure
Full profile
97🇺🇸 United States180 BTC0.001%$34.4M1.83x2.42x2.300e-6
Genius Group holds 180 BTC as part of its corporate treasury strategy.
Details
Genius Group, listed under ticker GNS, maintains a Bitcoin position of 180 BTC. As a U.S.-based company, it has incorporated cryptocurrency into its treasury management approach.
Best for: Investors interested in companies with Bitcoin exposure
Full profile
98🇨🇦 Canada176 BTC0.001%$3.5M1.08x0.25x7.300e-7
Matador Technologies Inc holds 176 BTC as part of its corporate treasury strategy.
Details
Matador Technologies Inc, listed on Canadian exchanges under ticker MATA.V, maintains a Bitcoin position of 176 BTC. The company has integrated digital assets into its balance sheet as part of its treasury management approach.
Best for: Investors seeking Canadian tech exposure with Bitcoin treasury holdings
Full profile
99N/A174 BTC0.001%
Bitcoin Treasury Capital holds 172 BTC as part of its treasury strategy, listed on Swedish exchanges.
Details
Bitcoin Treasury Capital maintains a significant Bitcoin position of 172 BTC. The company is listed on Swedish exchanges under ticker BTCB.SE, providing exposure to Bitcoin treasury management strategies.
Best for: Investors seeking Bitcoin treasury exposure
Full profile
100
K33 AB logo
K33 ABK33.ST
N/A168 BTC0.001%$411.8M29.36x31.06x1.000e-8
K33 AB holds 168 BTC as part of its corporate treasury strategy.
Details
K33 AB, listed on Nasdaq Stockholm under ticker K33.ST, maintains a Bitcoin treasury position of 168 BTC. This allocation reflects the company's commitment to digital asset exposure as part of its investment strategy.
Best for: Investors seeking Bitcoin-exposed Nordic listed companies
Full profile
Data as of Holdings: Aug 26, 2026

Direct answers

Which public company holds the most Bitcoin?

Strategy (MSTR) holds the largest corporate Bitcoin treasury of any public company, with 840K BTC as of mid-2025. It pioneered the corporate Bitcoin treasury strategy starting in August 2020.

How much Bitcoin do public companies hold in total?

Public companies collectively hold approximately 1255K BTC, representing roughly 6.0% of the total 21 million supply. The figure rises as new companies adopt Bitcoin treasury strategies and existing holders accumulate more.

How many public companies hold Bitcoin?

Over 185 publicly traded companies worldwide hold Bitcoin on their balance sheets as of 2026. The list spans North America, Europe, Asia, and includes companies in mining, fintech, software, and traditional industries.

Treasury Company Articles, Guides, & Videos

Learn more about corporate Bitcoin treasury strategies with our curated educational content.

Explore Related Resources

Compare other Bitcoin financial products or deepen your understanding of corporate treasury strategies.

Frequently Asked Questions

Common questions about corporate Bitcoin treasuries.

What is a Bitcoin treasury company?

A Bitcoin treasury company is a publicly traded firm that holds Bitcoin as a primary or significant reserve asset on its balance sheet, rather than just operational exposure. Strategy (MSTR) popularized this approach in 2020.

What does mNAV mean for Bitcoin treasury companies?

mNAV (multiple of Net Asset Value) compares a company's enterprise value to the value of its Bitcoin holdings. An mNAV above 1.0x means the market values the stock at a premium to its Bitcoin; below 1.0x means a discount.

How do you evaluate a Bitcoin treasury company using mNAV?

The mNAV multiple compares a company's market cap to its Bitcoin NAV. An mNAV above 1.0x means investors pay a premium for the management team and capital-raising ability. Below 1.0x suggests the stock trades at a discount to its Bitcoin holdings, which can signal an undervalued entry point relative to just holding BTC directly.

What is cost basis and why does it matter for Bitcoin treasury companies?

Cost basis is the average price a company paid per Bitcoin across all purchases. A low cost basis compared to today's spot price means the company is sitting on large unrealized gains, improving its balance sheet strength. A high cost basis near spot means thinner cushion during drawdowns.

How do Bitcoin treasury companies fund their Bitcoin purchases?

Bitcoin treasury companies use three main funding strategies: convertible debt (borrowing at low interest, creating leverage if BTC rises), at-the-market (ATM) equity offerings (selling new shares, which dilutes existing holders), and organic cash flow (slowest but cleanest method with no dilution or debt).

What is BTC per share?

BTC per share measures how many satoshis or fractions of Bitcoin each company share represents. It lets investors compare Bitcoin exposure across different treasury sizes and share counts.

Why do companies hold Bitcoin on their balance sheets?

Companies hold Bitcoin as a treasury reserve to hedge against currency debasement, diversify away from cash, and align with a Bitcoin-native investor base. Some also use it to raise capital via convertible notes tied to BTC appreciation.

What is the difference between Bitcoin miners and Bitcoin treasury companies?

Bitcoin miners earn BTC by validating transactions. Treasury companies buy Bitcoin on the open market as a strategic reserve. Some miners also hold their mined Bitcoin, making them hybrids, while pure treasury companies like Strategy have no mining operations.

Data as of: