Public Companies Investing in Bitcoin | Treasury Holdings
More than 100 publicly traded companies now hold Bitcoin as a corporate treasury asset, collectively controlling roughly 5% of Bitcoin’s total 21-million-token supply. What began with Strategy’s (formerly MicroStrategy) first purchase in 2020 has expanded into a broad trend spanning technology, mining, healthcare, retail, and financial services.
The companies holding Bitcoin on their balance sheets fall into several distinct categories:
- Treasury-first accumulators: Strategy (MSTR, Nasdaq) is the largest public corporate Bitcoin holder in the world, having financed purchases through cash reserves, debt issuance, and equity offerings. Metaplanet (3350, Tokyo Stock Exchange) holds the largest corporate Bitcoin position in Asia.
- Producer-holders: Bitcoin mining companies like MARA Holdings (MARA, Nasdaq) and Riot Platforms (RIOT, Nasdaq) generate Bitcoin through proof-of-work mining and retain a portion on their balance sheets.
- Business-aligned holders: Block Inc. (XYZ, NYSE), led by Jack Dorsey, purchases Bitcoin for its treasury while building Bitcoin-centric payment products. The company reinvests a share of its Bitcoin profits back into further purchases.
- Cross-sector adopters: Tesla (TSLA, Nasdaq) was among the first major non-tech companies to add Bitcoin. GameStop (GME, NYSE) announced plans to fund Bitcoin purchases through convertible debt. Semler Scientific (SMLR, Nasdaq), a healthcare company, adopted Bitcoin as its primary treasury reserve asset.
The geographic spread is wider than most expect — holders range from Boyaa Interactive in Hong Kong to Jasmine International in Thailand and Neptune Digital Assets on the TSXV in Canada. Companies cite Bitcoin’s fixed supply cap and verifiable scarcity as structural reasons for holding it alongside — or instead of — traditional cash reserves.
Public companies use mark-to-market accounting for their Bitcoin positions, meaning gains and losses in value appear directly in quarterly financial statements. For those looking at broader cryptocurrency-exposed companies or specifically at Bitcoin ETFs, we cover those on separate pages.
Regulated brokerThe table below lists public companies with Bitcoin treasury holdings, sorted by market capitalization. Prices and market cap figures update regularly to reflect current market conditions.
| Stock | Price | Marketcap | 52 Week Range |
|---|---|---|---|
 Tesla TSLA | $380.85 | 1.43T | |
 PayPal PYPL | $45.49 | 42.56B | |
 Coinbase COIN | $200.62 | 54.10B | |
 MicroStrategy MSTR | $138.20 | 47.00B | |
| $55.02 | 38.09B | ||
 Riot Blockchain RIOT | $14.37 | 5.45B | |
| $8.91 | 3.39B | ||
Cipher Mining CIFR | $14.89 | 6.03B | |
| $1.08 | 65.57M | ||
Canaan CAN | $0.448 | 303.90M | |
 Hut 8 Mining HUT | $52.94 | 5.87B | |
 TeraWulf WULF | $16.19 | 6.87B | |
 Bitfarms BITF | $2.31 | 1.39B | |
| $2.10 | 531.84M | ||
| $42.16 | 13.99B | ||
Bit Digital BTBT | $1.57 | 508.17M | |
Bakkt Holdings BKKT | $8.86 | 270.78M | |
 Argo Blockchain ARBK | $2.94 | 980.90K | |
| $2.97 | 68.66M | ||
| $1.28 | 20.22M | ||
 The9 NCTY | $5.82 | 88.03M | |
 OLB Group OLB | $0.568 | 9.25M |
