Astonishing Holdings: How Much Bitcoin Companies Control and Their Percentage of Supply

Despite fluctuations in the market, Bitcoin treasury companies continue to amass a considerable amount of BTC, now controlling about 5% of the total Bitcoin supply. Key players in this space include Michael Saylor’s Strategy and Metaplanet, which have recently secured new funding to increase their holdings.

Key Takeaways

Bitcoin treasury companies now hold around 5% of total BTC supply, with over 1 million BTC collectively in the top public companies.
Notable holders include Michael Saylor’s Strategy, BlackRock, and MARA holdings.
Bitcoin treasuries comprise 4 million BTC when considering various firms and institutions.
New capital is being raised by firms like Strategy and Metaplanet to acquire more Bitcoin amidst market fluctuations.
Bitcoin ETFs are gaining popularity, allowing more companies to gain exposure to Bitcoin without direct purchases.

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Overview: Bitcoin Treasury Holdings Exceed 1 Million BTC

According to Bitcoin Treasuries data, the top 100 public Bitcoin treasury companies collectively hold 1,058,929 BTC, while the total number of BTC held by all public firms is 1,061,697 BTC. Strategy, led by Michael Saylor, stands out as the largest public Bitcoin holder with 650,000 BTC. Recently, the company announced a purchase of 130 BTC for approximately $11.7 million.

The second-largest player in the Bitcoin treasury landscape is the miner MARA holdings, which holds 53,250 BTC. Other significant holders in the top five include Tether-backed Twenty One Capital with 43,514 BTC, Metaplanet with 30,823 BTC, and the Bitcoin Standard Treasury Company with 30,021 BTC. Additionally, companies like Coinbase, Bullish, and Trump Media rank among the top 10 holders of Bitcoin treasury.

It’s important to note that these public firms represent just a portion of Bitcoin treasuries. Additional insights from Bitcoin Treasuries indicate that the total amount of Bitcoin held in treasuries—including coins owned by governments, private companies, exchanges, DeFi platforms, and ETFs—amounts to 4 million BTC.

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Source: Chart from Bitcoin Treasuries

In the hierarchy of Bitcoin holders, BlackRock is currently ranked as the second-largest holder, following Satoshi Nakamoto. Strategy ranks third, while Binance and the U.S. government round out the top five, with holdings of 628,868 BTC and 323,588 BTC, respectively. The collective 4 million BTC held by these treasury companies represents 19% of the total Bitcoin supply.

Recent efforts by Bitcoin treasury firms such as Strategy and Metaplanet to raise capital have intensified in light of recent market downturns, with some companies aiming to buy more BTC. Strategy recently raised $836 million from its STRE offering, using the proceeds to acquire 8,178 BTC. Concurrently, Metaplanet has raised $130 million to enhance its BTC treasury.

Expansion on the Horizon: More Companies Embracing Bitcoin

There’s an increasing trend of new Bitcoin treasury companies, particularly following Vanguard's announcement to start offering Bitcoin ETFs, which begins today. Notably, some businesses prefer to gain Bitcoin exposure through these ETFs instead of purchasing Bitcoin directly. On-chain analytics platform Arkham Intelligence noted that JPMorgan, the largest bank in the U.S., holds $300 million worth of BlackRock’s Bitcoin ETF.

It's also worth considering that Bitcoin treasuries like Strategy are facing significant challenges during this ongoing market decline. CEO Phong Le acknowledged that they may need to sell Bitcoin as a last resort to manage dividend payments should their mNAV fall below 1x and they are unable to raise further capital.

As of the latest update, the price of Bitcoin is trading at approximately $87,000, reflecting an increase over the past 24 hours, according to CoinMarketCap data.

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BTC trading at $86,465 on the 1D chart | Source: BTCUSDT on Tradingview.com