Leading Companies Investing in Cryptocurrencies by Market Cap

In August 2020, Strategy (formerly MicroStrategy) became the first publicly traded U.S. company to add Bitcoin to its corporate balance sheet. Founded in 1989 as a business intelligence firm, Strategy now describes itself as “the world’s first and largest Bitcoin Treasury Company” and accounts for roughly 70–75% of combined Bitcoin holdings among the top ten publicly listed holders.

What was once considered a fringe idea — publicly traded corporations buying cryptocurrency as a reserve asset — has since spread well beyond a single company. The trend now spans multiple sectors, from mining to electric vehicles to financial services.

Key companies investing in cryptocurrencies include:

• Strategy (MSTR) — Nasdaq: Business intelligence company turned Bitcoin treasury firm, financing purchases through convertible notes and equity offerings.
• MARA Holdings (MARA) — Nasdaq: One of the largest Bitcoin mining operations in North America, holding a significant portion of mined Bitcoin as a treasury asset.
• Riot Platforms (RIOT) — Nasdaq: A major U.S.-based Bitcoin miner that also holds Bitcoin on its balance sheet.
• Coinbase (COIN) — Nasdaq: The well-known crypto exchange that went public via a direct listing on the Nasdaq and holds Bitcoin in its corporate treasury.
• Tesla (TSLA) — Nasdaq: The electric vehicle manufacturer that made headlines by purchasing Bitcoin, citing its potential as a long-term store of value.
• Metaplanet (TYO: 3350) — Tokyo Stock Exchange: A Tokyo-listed firm that shifted from hospitality to digital asset accumulation, often compared to Strategy’s early approach.

Most of these companies trade on the Nasdaq, though the trend has reached international exchanges as well. Companies finance their crypto purchases through various methods, including cash reserves, convertible debt issuance, and at-the-market equity offerings. For those interested in fund-based exposure, our cryptocurrency ETFs page covers available options.

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The table below lists the largest cryptocurrency-invested companies by market capitalization, including corporations with material crypto holdings or crypto-focused business models. Only publicly traded companies are included, and all data is updated regularly.