Bitcoin Treasury Companies: Control 5% of Supply

Bitcoin Treasury Companies Growing Rapidly: Now Control 5% of Total Bitcoin Supply

3 December 2025 at 09: 35

Reading time: 2 minutes

Bitcoin treasuries continue to grow at an unprecedented pace despite current market conditions BTC accumulate. They now own about 5% of the total supply of BitcoinAmong these companies, Michael Saylor's Strategy and the newer entity Metaplanet stand out, having recently raised fresh capital to capitalize on the current price corrections.

Recent Bitcoin Treasuries data shows that the top 100 public Bitcoin treasuries currently hold 1.058.929 BTC, while all public companies combined hold 1.061.697 BTC. Interestingly, Strategy is the largest public Bitcoin holder, holding 650.000 BTC. Yesterday, Saylor's firm announced it had acquired another 130 BTC, representing an investment of $11,7 million.

The second-largest Bitcoin treasury is MARA Holdings, a Bitcoin mining company with 53.250 BTC. Tether-backed Twenty One Capital, Metaplanet, and Bitcoin Standard Treasury Company round out the top five, holding 43.514, 30.823, and 30.021 BTC, respectively. Additionally, companies like Coinbase, Bullish, and Trump Media are among the top 10 largest BTC treasuries. It's important to note that these public entities represent only a fraction of the total Bitcoin treasury holdings. Further research shows that there are currently approximately 4 million BTC held in various treasuries, including the Bitcoin held by governments, private companies, exchanges, DeFi platforms, and ETFs.

Notably, BlackRock is currently the second-largest holder of Bitcoin, behind only Satoshi Nakamoto. Strategy follows immediately in third place, while Binance and the US government complete the top five, holding 628.868 and 323.588 BTC, respectively. Together, the 4 million BTC held by these treasuries represents 19% of the total Bitcoin supply.

Companies like Strategy and Metaplanet recently closed new funding rounds amid the recent market downturn to acquire additional BTC. Saylor's company raised $836 million through its STRE offering, acquiring 8.178 BTC. Metaplanet, on the other hand, raised $130 million to expand its BTC treasury.

With the upcoming offering of BTC ETFs by the $10 trillion asset management firm Vanguard, we can expect a further surge in Bitcoin treasuries. Notably, some firms are choosing to gain Bitcoin exposure through these ETFs rather than purchasing the cryptocurrency outright. A recent disclosure by the on-chain analytics platform Arkham Intelligence revealed that the largest bank in the US, JPMorgan, holds $300 million in BlackRock's BTC ETF.

Moreover, Bitcoin treasuries like Strategy are facing significant pressure from the current market downturn. Strategy CEO Phong Le admitted they may have to sell Bitcoin as a last resort to fund dividend payments if their market net assets (mNAV) fall below 1x and they can no longer raise capital.

Frequently Asked Questions

What are Bitcoin treasury companies?
Bitcoin treasury companies are public or private entities that hold a significant amount of Bitcoin as a form of capital management, similar to how companies hold physical assets or cash.

Why do companies like Strategy invest in Bitcoin?
These companies believe in the long-term value of Bitcoin and see it as a good hedge against inflation and as a growth opportunity, especially in uncertain economic times.

What are the risks for Bitcoin treasury companies?
The main risks are associated with price fluctuations in the market, liquidity problems, and the possibility of having to sell Bitcoin to meet financial obligations, which could lead to losses on their investments.

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