For years, many companies considered the idea of adding Bitcoin to their portfolios laughable, arguing that the coin was extremely volatile. However, the recent trend shows that several publicly traded companies are now embracing Bitcoin. According to data from BitcionTreasuries, these firms account for roughly 1.5% of the entire Bitcoin supply of 21 million coins.
This article lists public companies holding the most Bitcoin. Stay tuned to learn more about them.
MicroStrategy
📈🤖 Unlock unparalleled trading potential with GPT Stocks Master AI! Revolutionize your portfolio, leveraging real-time insights and predictive analytics. Don’t miss out – step into a world where precision and profitability meet. Ready to transform your trading journey? Click “Master My Trades” now for your exclusive access! ✨🚀📊
Known for offering cloud-based services, MicroStrategy has spent millions of dollars to buy Bitcoin over the past few years. As of July 2024, the company holds 214,500 BTC worth nearly $15 billion.
MicroStrategy founder and CEO Michael Saylor says the company’s move to adopt Bitcoin as its reserves has boosted its revenue ten times. He recently disclosed that he owns 17,700 Bitcoin worth $1.1 billion, making him among the top 150 BTC holders. Notably, Saylor said in 2013 that Bitcoin was a passing wave.
Marathon Digital Holdings
Prominent Bitcoin mining firm Marathon Digital is also among the largest Bitcoin holders, boasting over 17,600 BTC in its treasury. With more than 230,000 mining machines, Marathon Digital produces 29.8 EH/s in computational power, enabling it to keep up with the stiff competition.
Tesla
Tesla’s Bitcoin holdings became public knowledge in 2020 after the Electric car maker’s SEC filing revealed that the firm owned BTC worth $1.40 billion. However, Tesla cashed out 10% of its Bitcoin the following year to “prove that the Bitcoin market was liquid.”
Elon Musk, the brains behind Tesla, promised in 2022 that the company will buy more Bitcoin in the future.
Hut 8 Mining Corp
Hut 8 is another mining firm with a significant amount of Bitcoin in its treasury. In its recent SEC filing, the company disclosed that it owns 9,110 BTC worth approximately $645 million.
Hut 8 manages six mining facilities, which collectively generate a computational power of 12.6 EH/s.
Riot Platforms
Riot Platforms, a leading Bitcoin miner in the United States, owns 9,085 BTC, estimated to be worth $645 million.
The firm’s valuation rose from $201 million to $6 billion within a year, thanks to its aggressive expansion drive, which saw the establishment of a one-gigawatt mining farm in Rockdale, boosting the company’s productivity and revenue.
Coinbase Global
America’s biggest cryptocurrency exchange, Coinbase, was listed on Nasdaq in early 2021. Before its listing, Coinbase disclosed that it owned $250 million worth of Bitcoin. However, as of this writing, the exchange Bitcoin holding has increased to 9,023 BTC, worth about $640 million.
Galaxy Digital Holdings
Despite selling over 50% of its Bitcoin holdings in 2022, Galaxy Digital Holdings is still among the top BTC holders. The asset management company owns 8,125 BTC worth nearly $580 million. Its CEO, Michael Novogratz, recently said that Bitcoin would never trade below $40,000 again and predicted a rally to $100,000 by December 31st.
Block, Inc.
Digital payments company Block holds 8,028 BTC, worth $571 million as of this writing. The firm has shown its commitment to embracing Bitcoin technology in recent months. In 2023, Block released its Bitcoin wallet and announced that it would launch a Bitcoin mining ASIC chip soon. In early 2024, the firm said it was planning to use some of its profits to buy Bitcoin.
CleanSpark
CleanSpark, a US-based Bitcoin mining company, announced in June that it owned 6,159 BTC, worth $438 million. Moreover, it revealed mining 415 BTC the previous month.
CleanSpark has expanded its mining operations since the Bitcoin halving event in April. It has spent over $19 million to acquire three mining farms in Mississippi that collectively generate 2.4 EH/s in computational power.
Bitcoin Group SE
Leading venture capital firm in Germany, Bitcoin Group SE, is a top ten Bitcoin holder with 3,832 BTC in its coffers. In 2020, the company launched the first crypto bank in Germany, allowing institutional investors to inject funds into digital assets in a more regulated manner.