Top 10 Publicly Traded Companies Holding the Most Bitcoin in 2025

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In recent years, the idea of public companies adding Bitcoin to their balance sheets has evolved from a fringe concept into a mainstream financial strategy. Once considered too volatile and speculative for corporate treasuries, Bitcoin is now being embraced by major institutions as a long-term store of value—especially in an era marked by inflationary pressures and monetary uncertainty.

The shift began in 2020 when MicroStrategy made headlines by allocating over $400 million into Bitcoin. This bold move sparked a wave of adoption across the corporate world, inspiring tech giants, fintech innovators, and mining firms alike to follow suit. For investors seeking exposure to Bitcoin without managing private keys, investing in these publicly traded companies offers a regulated and accessible alternative.

Based on data compiled by Bitcoin Worldwide, here are the top 10 publicly traded companies holding the largest Bitcoin reserves as of 2025.

1. MicroStrategy

MicroStrategy stands at the forefront of corporate Bitcoin adoption, with Bitcoin serving as its primary treasury reserve asset.

Founded in 1989 and led by CEO Michael Saylor, the company initially focused on business intelligence and data analytics before pivoting dramatically in August 2020. Since then, it has aggressively accumulated Bitcoin, reinforcing its position as the largest corporate holder outside of ETFs and exchanges.

As of late 2024, MicroStrategy holds 124,391 BTC, acquired at an average price of approximately $31,000 per coin. The company continued its buying spree throughout 2021, including a notable purchase of 1,914 BTC at an average price of $49,229 in December.

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Saylor has become one of Bitcoin’s most vocal advocates, famously stating:

"If you're looking for a non-sovereign store of value in an inflationary environment, Bitcoin is the logical digital gold."

Notably, Saylor also holds 17,732 BTC personally, placing him among the top 100 individual Bitcoin holders globally. His transformation—from mocking Bitcoin in 2013 to championing it today—reflects the broader institutional shift toward digital assets.

MicroStrategy has even hosted executive education events to encourage other corporations to adopt Bitcoin, predicting that "a wave of companies" will soon follow.

2. Tesla

Tesla made waves in early 2021 by announcing a $1.5 billion investment in Bitcoin—marking one of the most high-profile endorsements from a Fortune 500 company.

Led by Elon Musk, Tesla currently holds 42,902 BTC, valued at over $2 billion. The purchase was part of a new investment policy aimed at diversifying cash holdings and maximizing returns:

"We may invest a portion of such cash in certain alternative reserve assets, including digital assets, gold bullion, and gold ETFs." — Tesla SEC Filing

Tesla briefly accepted Bitcoin for vehicle purchases in March 2021 but paused the program two months later due to environmental concerns about mining's reliance on fossil fuels. Musk emphasized that Tesla would not sell its holdings and would resume transactions once miners transitioned to sustainable energy sources.

This stance highlights a key theme: corporate Bitcoin adoption is not just financial—it’s also values-driven.

While Tesla has not added to its holdings since 2021, its influence on market sentiment remains significant. Musk’s simultaneous support for Dogecoin also underscores the complexity of crypto engagement among tech leaders.

3. Galaxy Digital

As a crypto-native financial institution, Galaxy Digital is uniquely positioned at the intersection of traditional finance and digital assets.

Founded in 2018 by Michael Novogratz, the firm holds 16,400 BTC and operates across trading, asset management, principal investments, and advisory services within the blockchain ecosystem.

Novogratz was an early believer in Bitcoin’s potential during the pandemic stimulus era, calling it “Bitcoin’s moment.” However, by late 2021, he acknowledged the asset’s volatility, noting that gold might be a safer bet for risk-averse investors—though he still sees Bitcoin outperforming over time.

Galaxy Digital co-filed a proposal for a Bitcoin spot ETF in September 2021, contributing to ongoing efforts to bring regulated crypto products to U.S. markets. While the SEC has only approved futures-based ETFs so far, the push for spot approval continues.

4. Voyager Digital

Voyager Digital, a cryptocurrency brokerage platform, held 12,260 BTC before entering bankruptcy proceedings in mid-2022 following the collapse of key partners like Three Arrows Capital.

Prior to its downfall, Voyager reported explosive growth—Q1 2021 revenue reached $60.4 million, up 16x from the previous quarter. CEO Steven Ehrlich highlighted the growing legitimacy of crypto as an investable asset class.

Despite its cautionary tone in regulatory filings—warning of risks tied to Bitcoin price swings—Voyager exemplified how rapidly crypto-native firms scaled during the bull market.

5. Block (formerly Square)

Block, founded by Jack Dorsey, has been a consistent advocate for Bitcoin integration.

The company first invested $50 million in Bitcoin in October 2020 and later added another $170 million worth. Today, it holds 8,207 BTC, valued at around $381 million.

Dorsey runs a personal Bitcoin node and has long promoted decentralization. In line with this vision, Block launched tbDEX, a decentralized exchange protocol designed to bridge fiat and crypto systems with minimal identity requirements.

In November 2021, Block also established a $5 million fund dedicated to cryptocurrency education—an effort to expand access and understanding.

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The rebrand from Square to Block in December 2021 signaled a deeper commitment to blockchain innovation beyond payments.

6. Marathon Digital

Marathon Digital is one of North America’s largest Bitcoin mining operations and holds 7,649 BTC.

Originally a patent-holding company, Marathon shifted focus entirely to crypto mining in recent years. It acquired power plants and thousands of ASIC miners to scale operations efficiently.

In January 2021 alone, Marathon purchased $150 million worth of Bitcoin. By year-end, it had secured 78,000 Antminer units for delivery in 2022 and expanded its Texas-based mining infrastructure significantly.

Its long-term vision? To become a foundational player in the “post-fiat” world where miners serve as modern-day digital gold prospectors.

7. Hut 8 Mining

Canadian miner Hut 8 holds 5,242 BTC, nearly all mined organically through its own operations.

Listed on Nasdaq since June 2021, Hut 8 emphasizes shareholder value through strategic accumulation and staking-like yield generation via third-party lending programs.

CEO Jaime Leverton affirmed:

"Our commitment to holding Bitcoin is central to creating incremental value for Hut 8 investors."

With low-cost energy sources and expanding infrastructure, Hut 8 exemplifies vertically integrated mining success.

8. Coinbase

As one of the world’s most recognized crypto exchanges, Coinbase held 4,482 BTC (worth $213 million) as of December 2021.

While its Bitcoin reserves slightly declined post-IPO due to operational spending, Coinbase remains pivotal in driving mainstream adoption through custody solutions, trading platforms, and educational resources.

Its April 2021 Nasdaq debut was a watershed moment for the industry—validating crypto’s place in traditional finance.

9. Riot Blockchain

U.S.-based Riot Blockchain holds 3,995 BTC, primarily mined through its large-scale Texas facility.

With a $650 million investment in infrastructure in Rockdale, Texas, Riot aims to become North America’s largest publicly traded mining and hosting operation.

Its hash rate expansion plans reflect confidence in Bitcoin’s long-term viability and profitability.

10. Bitcoin Group SE

Rounding out the list is Germany’s Bitcoin Group SE with 3,947 BTC.

A venture capital firm active since 2016, it operates Bitcoin.de—the largest European crypto exchange—and helped launch Germany’s first licensed crypto bank through a merger with Futurum Bank.

CEO Marco Bodewein believes institutional adoption will grow as regulators embrace crypto’s security and return potential.

Frequently Asked Questions (FAQ)

Q: Why are companies buying Bitcoin?
A: Companies buy Bitcoin as a hedge against inflation and currency devaluation. Its fixed supply makes it an attractive long-term store of value compared to fiat currencies.

Q: Is holding Bitcoin risky for corporations?
A: Yes—Bitcoin is volatile. However, many executives believe the long-term upside outweighs short-term fluctuations, especially when held as a small percentage of total assets.

Q: Can I gain exposure to Bitcoin by investing in these companies?
A: Yes. Investing in stocks like MicroStrategy or Coinbase provides indirect exposure to Bitcoin without needing to manage private keys or wallets.

Q: Have any companies sold their Bitcoin?
A: Some have taken profits—like Tesla selling 10% in Q1 2021—but most remain long-term holders committed to “HODLing.”

Q: Will more companies adopt Bitcoin in the future?
A: Industry leaders predict widespread adoption. As regulatory clarity improves and custodial solutions mature, more corporations are expected to add Bitcoin to their balance sheets.

👉 See how institutional investors are shaping the future of digital assets

Core Keywords:

This list reflects a transformative trend: Bitcoin is no longer just an asset for retail traders—it's becoming a strategic reserve for global enterprises. As macroeconomic conditions evolve and financial innovation accelerates, corporate treasuries may increasingly turn to decentralized digital assets as pillars of long-term wealth preservation.