Top Public Companies that Own Bitcoin

Formerly pushed to the periphery as an asset class, Bitcoin is now squarely in the sights of institutional finance. In the last few years, increasing numbers of public companies that own Bitcoin on their balance sheets, either as a long-term reserve asset or as part of their business model. Now, the list of public companies with Bitcoin on their books includes software giants, electric vehicle manufacturers, mining companies, and financial services companies.

These companies aren't just altering corporate treasury practices but are also becoming some of the biggest Bitcoin holders companies in the world. Here, we talk about the largest companies holding Bitcoin, how much they're holding, and who is actually buying Bitcoin-with insight into the bigger trend of companies investing in cryptocurrency.

Why Are Companies Buying Bitcoin?

Before diving into the list, it's important to understand the motivations behind corporate Bitcoin holdings. Here's why companies that own Bitcoin are taking the leap:

• Inflation Hedge: Bitcoin's fixed supply of 21 million coins is appealing as protection against fiat currency debasement.

• Diversification: Crypto provides uncorrelated exposure compared to traditional asset classes.

• Speculative Upside: Many believe Bitcoin has significant long-term growth potential.

• Brand Strategy: Identification with crypto innovation can make a business appear cutting-edge and tech-forward.

With regulatory certainty having expanded and new financial products like spot Bitcoin ETFs gaining traction, the door has been opened to more companies that have been investing in cryptocurrency to enter the fray.

1. Strategy (previously MicroStrategy)

• Bitcoin Holdings: 531,644 BTC

• Current Value: Over $45 billion (April 2025)

Leading the pack of public companies with Bitcoin by a wide margin is Strategy. Initially called MicroStrategy, the company renamed itself in 2025 to better identify with its aggressive acquisition strategy of buying Bitcoin.

Executive Chairman Michael Saylor transformed the company into a de facto vehicle for holding Bitcoins. Strategy as of April 2025 owns more than 2% of the supply of available BTC, which makes it not only the largest corporate owner but also one of the world's largest companies to hold Bitcoins. Saylor, once a Bitcoin skeptic, now believes that the company will be "buying the top forever."

2. Marathon Digital Holdings

• Bitcoin Holdings: 47,531 BTC

• Current Value: $4+ billion

One of the largest Bitcoin mining firms in North America, Marathon has built its treasury aggressively over the past several quarters. The firm is investing heavily to expand its mining operation, especially after the 2024 halving event.

Marathon is a typical example of companies holding onto Bitcoin they mine themselves, keeping it as a treasury asset as well as a business foundation.

3. Riot Platforms, Inc.

• Bitcoin Holdings: 19,223 BTC

• Current Value: ~$1.6 billion

Riot transformed from a technology firm to a leading U.S. Bitcoin miner. It has since expanded aggressively-most recently in a $650 million investment in a Texas mining facility.

Riot struggled post-halving, but its Bitcoin reserve remains significant. It's impressive relative to other firms that sit on Bitcoin as part of vertically integrated businesses.

4. CleanSpark

• Bitcoin Holdings: 12,000+ BTC (est.)

• Current Value: ~$1 billion

Unlike firms that only purchase BTC in the open market, CleanSpark focuses on self-mined holdings. The company grew exponentially in 2024 and continues to expand its mining presence in Georgia, Mississippi, and Wyoming.

Their CFO had the best analogy: "Why purchase Bitcoin at market when we can mine for $34,000?"

5. Tesla

• Bitcoin Holdings: 11,509 BTC

• Current Value: ~$950 million

Tesla made headlines in 2021 with a $1.5 billion Bitcoin buy. It sold some but still maintains a large BTC reserve.

Tesla's action has been controversial, with CEO Elon Musk stumbling around with Bitcoin car payments. Nevertheless, it is still one of the largest companies that invest in cryptocurrency and may grow its stake in the future.

6. Hut 8 Corp

• Bitcoin Holdings: 10,264 BTC

• Current Value: ~$872 million

Canadian mining company Hut 8 has grown by way of consolidation with U.S. Bitcoin Corp and has a presence all across North America with over 7.5 EH/s of mining capacity. It leverages its BTC reserves through yield accounts and strategic financing, which makes it different from other companies that own Bitcoin as static assets only.

7. Galaxy Digital Holdings

• Bitcoin Holdings: 11,242 BTC

• Current Value: ~$954 million

Founded by former hedge fund manager Mike Novogratz, Galaxy is a crypto economy merchant bank. Exposed to spot ETFs, custody, asset management, and proprietary trading, Galaxy is not just one of the companies that own Bitcoin, but also the most diversified in digital asset services.

8. Block, Inc.

• Bitcoin Holdings: 8,485 BTC

• Current Value: ~$721 million

Otherwise known as Square, Block was one of the first corporate users of Bitcoin. With Jack Dorsey at the helm, the company bought $50 million in BTC in 2020 and is still a supporter of the ecosystem with product development-such as Bitcoin hardware wallets and mining chips.

Block also disclosed in 2024 that it would reinvest 10% of profit generated from Bitcoin into BTC via a DCA program-one of the most consistent companies to be investing in cryptocurrency.

9. Coinbase Global, Inc.

Bitcoin Holdings: 6,885 BTC

Current Value: ~$585 million

Top U.S. crypto exchange, Coinbase, is at the forefront of institutions getting involved in Bitcoin. Apart from facilitating trades, the company holds a notable but modest stash of BTC on its books. Coinbase also continues to be a market leader with such products as wrapped Bitcoin (cbBTC) and resumed BTC lending business in 2024.

10. Metaplanet (Japan)

Bitcoin Holdings: 4,525 BTC

Current Value: ~$384 million

Dubbed the "Asian Strategy," Metaplanet is a publicly listed company in Tokyo that made a dramatic shift into Bitcoin late in 2024. Its Bitcoin holdings have risen from less than 400 BTC to more than 4,500 in a matter of months, and it aims to reach 10,000 BTC by 2025.

Among its goals is the development of a Bitcoin-themed hotel and the promotion of Bitcoin awareness across Asia-ranking it as one of the most rapidly expanding public companies that hold Bitcoin.

Who Is Currently Investing in Bitcoin?

The 2024 U.S. spot Bitcoin ETF approval opened the floodgates for a new institutional investor influx. Here's a snapshot of who is currently investing in Bitcoin:

• Asset Managers: BlackRock, Fidelity, and VanEck launched U.S. spot ETFs.

• Insurance Companies: Some are testing small exposures to BTC.

• Sovereign Wealth Funds: Quietly dipping into BTC through private placements.

• Companies: Mid-cap firms are beginning to mirror Strategy's model.

As these players enter, demand for Bitcoin keeps growing-even as supply decreases.

Institutional Interest of Bitcoin

The rise of companies that own Bitcoin is a shift in business thinking about cash reserves and long-term investment. While trailblazers like Strategy and Tesla were the news, the 2025 landscape provides wider and deeper institutional involvement.

From miners like Marathon and CleanSpark to finance giants like Galaxy Digital and Coinbase, the list of Bitcoin holding businesses is diverse and growing. These businesses aren't gambling-They're building the financial infrastructure of the future. With increasing regulatory guidance and mainstream investor attention, we are probably just at the tip of a longer-term trend. The public equities that own Bitcoin today might soon be accompanied by some of the world's biggest brands.