Yeliz Akmaca 
Public companies are now using Bitcoin not just as an investment vehicle, but as a strategic balance sheet reserve. According to BitcoinTreasuries.net data, the top 100 public Bitcoin treasury companies hold a total of 1,059,453 BTC. This represents approximately 5% of the total Bitcoin supply and indicates that institutional investors are contributing to price stability by limiting the amount of marketable BTC in the market.
Diversity and Global BTC Adoption
The list of Bitcoin treasury companies includes not only mining operations but also firms from the technology, finance, and retail sectors. For instance, mining companies like MARA and Riot have been producing and holding Bitcoin as a balance sheet reserve for years, while tech giants like Tesla and Block, and financial institutions like Coinbase, have also made strategic BTC acquisitions. Retail companies like GameStop also made the list, showing that adoption is increasing across diverse sectors.
Global spread is also noteworthy. The list includes companies from the USA, Japan, Canada, Germany, and Türkiye. Türkiye’s Net Holding ranks 75th and is known to have added Bitcoin to its balance sheet since 2024. This demonstrates that Bitcoin is being adopted as a strategic reserve by corporate investors worldwide, not just in a specific region.
Leaders, History, and Corporate Strategy
MicroStrategy (formerly Strategy) tops the list. The company started adding Bitcoin to its balance sheet in 2020 and today stands significantly apart from others with approximately 650,000 BTC. This is the clearest example of an aggressive treasury strategy. While Tesla made a major impact on the corporate market with its $1.5 billion BTC purchase and short-term sales in 2021, Marathon Digital and other miners are also among the leaders with long-term BTC accumulation.
Experts state that public companies viewing Bitcoin as a strategic reserve will ensure long-term stability in the market. The fact that 5% of the supply is locked in public company vaults limits liquidity while increasing institutional trust. Furthermore, this situation shows that Bitcoin is not just a speculative asset but a serious tool in financial planning.
| Rank | Company | Country | Ticker | Bitcoin (BTC) |
| 1 | Strategy | USA | MSTR | 650,000 |
| 2 | MARA Holdings, Inc. | USA | MARA | 53,250 |
| 3 | XXI | USA | CEP | 43,514 |
| 4 | Metaplanet Inc. | Japan | MTPLF | 30,823 |
| 5 | Bitcoin Standard Treasury Company | USA | CEPO | 30,021 |
| 6 | Bullish | USA | BLSH | 24,300 |
| 7 | Riot Platforms, Inc. | USA | RIOT | 19,324 |
| 8 | Coinbase Global, Inc. | USA | COIN | 14,548 |
| 9 | Hut 8 Mining Corp | USA | HUT | 13,696 |
| 10 | CleanSpark, Inc. | USA | CLSK | 13,011 |
| 11 | Trump Media & Technology Group Corp. | USA | DJT | 11,542 |
| 12 | Tesla, Inc. | USA | TSLA | 11,509 |
New additions in 2025 are also expanding the list. Hyperscale Data, Inc. climbed to the upper ranks with approximately 382 BTC. These developments indicate that corporate investor adoption of Bitcoin will continue, and its strategic importance in the markets will grow.
In conclusion, public Bitcoin treasury companies have become major actors shaping market dynamics. Leaders like MicroStrategy, Tesla, and Marathon Digital set an example for other companies, while the entry of firms from diverse sectors shows that Bitcoin is becoming a standard tool in the corporate investment world.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.