Strategy Has Nearly 70% Of Public Companies' Bitcoin Holdings

Strategy Commands Two-Thirds of All Corporate Bitcoin

Public corporations now hold a combined 1,285,829 $BTC, equal to 6.12% of Bitcoin's total circulating supply, according to the latest registry data from CoinGecko. Of those holdings, one firm towers above the rest. @Strategy controls 843,775 $BTC, giving it roughly 66% of all Bitcoin held across reporting public companies. That position is nearly triple the combined holdings of every other public firm on the registry.

CoinGecko tracks 175 companies with a total holding of over 1.27 million BTC, representing around 6% of Bitcoin's total supply. The breadth of that registry underscores how far corporate Bitcoin adoption has travelled in just a few years. CoinGecko's Digital Asset Treasury Company report counted 142 firms holding $137.3 billion in crypto, a jump from only four firms in 2020, showing that corporate balance sheets have become a real channel for Bitcoin demand.

A Treasury Strategy Built on Relentless Accumulation

Strategy, listed on Nasdaq as MSTR, is the world's first and largest Bitcoin Treasury Company, holding more Bitcoin than any other publicly traded entity. The firm rebranded from MicroStrategy to Strategy in February 2025. Its approach is singular: accumulating Bitcoin as a primary treasury reserve asset, a strategy publicly championed by Executive Chairman Michael Saylor since August 2020.

The 2025 implementation of FASB's ASU 2023-08 requires fair-value accounting for Bitcoin, allowing companies to report both unrealized gains and losses, providing more accurate financial reporting compared to previous impairment-only rules. That accounting shift has lowered one of the practical barriers for public companies considering Bitcoin on their balance sheets, contributing to the growing number of firms entering the registry.

The concentration of holdings at @Strategy raises questions about how diversified the broader corporate Bitcoin market really is. With 175 firms collectively on record, the gap between the largest holder and the rest remains enormous. For now, @Strategy's 843,775 $BTC position means it controls more Bitcoin than any government or institution outside of Bitcoin's own protocol, cementing its status as the defining force in institutional $BTC adoption.

Sources:
CoinGecko: Bitcoin Treasury Companies, BTC Holdings by Public Companies
CoinGecko: What Are Corporate Bitcoin Treasuries?
CoinGecko: Digital Asset Treasury Companies (DATCo) Report 2025