Discover the key players holding Bitcoin—public companies, private institutions, and even governments. Explore their strategies and the growing role of digital assets.In the dynamic world of finance, Bitcoin has emerged as a revolutionary asset, reshaping treasury management. With interest rates easing and purchasing power concerns growing, public and private entities are turning to Bitcoin as a store of value, with companies like MicroStrategy leading the trend.
Bitcoin holders range from public companies and private institutions to governments. Businesses across sectors, from tech to automotive, are adding Bitcoin to their balance sheets, and countries like El Salvador have incorporated it into their national treasuries. This overview highlights the major entities holding Bitcoin and the rising role of digital assets in treasury management.
Public Companies with Significant Bitcoin Holdings
As you explore the landscape of bitcoin treasury holders, you'll find a diverse range of public companies that have embraced this digital asset as part of their financial strategy. These organizations span various industries, from tech giants to automotive manufacturers, each with their own motivations for holding bitcoin. Let's take a closer look at some of the most prominent public companies with significant bitcoin holdings.
MicroStrategy
BTC Holdings: 279,420
MicroStrategy, a business intelligence company, stands out as the largest corporate holder of bitcoin. As of November 11, 2024, MicroStrategy owns 279,420 bitcoins, with an average purchase price of USD 42,692 per bitcoin. The company's total investment in bitcoin amounts to USD 11.9 billion.
MicroStrategy's bitcoin purchase history shows a consistent strategy of accumulating bitcoin over time, with significant purchases made throughout 2023 and 2024. The company's former CEO, Michael Saylor, has been a vocal advocate for bitcoin as a treasury reserve asset.
Latest News: MicroStrategy, the company known for its significant Bitcoin holdings, has announced an ambitious plan to raise $42 billion over the next three years. This capital will be used to further increase its Bitcoin reserves. The plan, dubbed "21/21," involves raising $21 billion through equity offerings and another $21 billion through debt financing. This aggressive strategy underscores MicroStrategy's strong belief in Bitcoin's long-term potential as a valuable asset.
Marathon Digital Holdings
BTC Holdings: 27,562
Marathon Digital Holdings, a bitcoin mining company, currently owns 27,562 BTC as of November 2024. This significant holding is valued at approximately USD 2.2 billion. Marathon has been mining bitcoin since its founding in 2010 and has a strategy of holding a substantial portion of the bitcoin it mines. The company only sells bitcoin to cover operational costs and for general corporate purposes. With a current installed hash rate of 40.2 EH/S as of October 2024, Marathon continues to be a major player in the bitcoin mining industry.
*Head over to our Who Are the Biggest Public Bitcoin Miners in 2024? article for the full details on Bitcoin Public Miners.
Riot Platforms
BTC Holdings: 10,928
Riot Platforms is a prominent Bitcoin mining company based in the United States. With a focus on large-scale mining operations, Riot has amassed a significant Bitcoin reserve, currently holding 10,928 BTC. This strategic reserve is part of Riot's broader approach to leverage its mining activities (29.4 EH/s) for financial stability and growth.
The company operates several mining facilities across North America and has consistently expanded its infrastructure to increase its Bitcoin production and holdings.
Tesla
BTC Holdings: 9,720
Tesla, the electric vehicle and clean energy company led by Elon Musk, has also made significant investments in bitcoin. As of the latest reports, Tesla holds 9,720 bitcoins, valued at approximately USD 606 million. Tesla's journey with bitcoin has been eventful, starting with a USD 1.5 billion purchase in February 2021.
The company initially bought around 43,000 BTC at an average cost of USD 38,000. However, Tesla has since sold a portion of its holdings, citing liquidity concerns related to COVID-19 shutdowns in China. Despite these sales, Tesla continues to maintain a substantial bitcoin position on its balance sheet.
Coinbase
BTC Holdings: 9,480
Coinbase Global, Inc., one of the largest cryptocurrency exchanges, holds approximately 9,480 bitcoins on its balance sheet. This investment is valued at around USD 599 million.
It's important to note that these bitcoins are held by Coinbase as a company investment, separate from the hundreds of thousands of bitcoins it holds on behalf of its customers.
Hut 8 Mining Corp
BTC Holdings: 9,110
Hut 8 Mining Corp is one of North America's largest and most innovative Bitcoin and cryptocurrency mining firms. As of the latest reports, Hut 8 holds 9,110 BTC, reflecting its commitment to accumulating and retaining Bitcoin as part of its financial strategy.
The company operates multiple mining facilities in Canada, utilizing its expertise to optimize mining efficiency and expand its Bitcoin holdings. Hut 8's focus on maintaining a substantial Bitcoin reserve underscores its long-term vision for the cryptocurrency market.
Block (Square)
BTC Holdings: 8,363
Block, Inc., formerly known as Square, is a financial services and digital payments company co-founded by Jack Dorsey. As of the latest data, Block holds 8,363 bitcoin, valued at approximately USD 512 million.
The company has been actively involved in the bitcoin ecosystem, not just through its holdings but also by developing bitcoin mining systems and offering bitcoin-related services to its customers. Block has implemented a dollar-cost averaging (DCA) programme, investing 10% of its monthly gross profit from bitcoin products into bitcoin purchases for investment.
CleanSpark
BTC Holdings: 8,701
CleanSpark is a U.S.-based Bitcoin mining company known for its focus on energy-efficient mining operations. The company currently holds 8,701 BTC, aligning with its strategy to accumulate and retain Bitcoin as part of its operational model.
CleanSpark emphasizes sustainable mining practices by using renewable energy sources, aiming to reduce the environmental impact of its operations while maintaining a significant Bitcoin reserve. The company's commitment to green energy and efficient mining positions it as a forward-thinking player in the cryptocurrency space.
Notable Newcomers
While established public companies with significant Bitcoin holdings often grab the spotlight, it's essential to recognize newcomers in the space. These organizations, with no prior Bitcoin or crypto background, have begun to make their mark by adopting a strategic approach to Bitcoin acquisition. Despite holding modest amounts of Bitcoin, their regular acquisition strategies could enhance their balance sheets, especially as inflation continues to impact traditional financial systems.
Semler Scientific
BTC Holdings: 1,058
Semler Scientific, a healthcare technology company, has quietly accumulated 1,058 BTC. Operating in a highly regulated industry, Semler’s venture into Bitcoin is notable. Their Bitcoin holdings suggest a strategic move to hedge against inflation and bolster financial stability.
As the healthcare sector gradually embraces digital currencies, Semler Scientific’s proactive stance positions it as a leader in integrating Bitcoin into its financial strategy.
Metaplanet
BTC Holdings: 1,018
Metaplanet, a venture capital firm founded by Skype co-founder Jaan Tallinn, has acquired 1,018 BTC. Known for its focus on pioneering technologies, Metaplanet's Bitcoin holdings reflect its commitment to cutting-edge innovations and future-focused investments.
Although its Bitcoin exposure is relatively modest, it aligns with the firm's broader strategy of supporting transformative technologies and blockchain advancements.
Private Companies and Institutions Holding Bitcoin
While public companies have been making headlines with their bitcoin holdings, private companies and institutions have also been quietly accumulating significant amounts of the cryptocurrency. These entities, not subject to the same public disclosure requirements, have been adopting bitcoin as a reserve asset for various reasons. Let's explore some of the most notable private bitcoin holders and their motivations.
Block.one
BTC Holdings: 164,000
Block.one is a Chinese technology company renowned for its role in developing the EOS.IO blockchain protocol. Founded in 2017, Block.one is central to the EOS ecosystem, which aims to provide a scalable and flexible platform for decentralized applications and smart contracts. The company is known for its ambitious vision of creating a blockchain infrastructure that can support high-performance decentralized applications.
Block.one holds approximately 164,000 BTC, making it one of the largest private holders of Bitcoin. This significant reserve highlights Block.one’s confidence in the long-term potential of Bitcoin and its commitment to integrating cryptocurrency into its broader technological strategy. The company's substantial Bitcoin holdings underscore its belief in the value of digital assets and their role in the evolving landscape of blockchain technology.
Tether Holdings
BTC Holdings: 82,454
Tether Holdings Limited, the company behind the USDT stablecoin, has emerged as a major player in the bitcoin space. As of October 2024, Tether owns roughly 82,454 BTC, valued at approximately USD 6.78 billion. This represents about 0.393% of the total bitcoin supply.
Tether's bitcoin holdings have been steadily increasing, with the company announcing its intention to allocate up to 15% of its net realized operating profits towards purchasing bitcoin. This strategy aligns with Tether's goal of diversifying its reserves and capitalizing on the potential growth of the cryptocurrency market.
BitMEX
BTC Holdings: 52,631.9
BitMEX, a leading cryptocurrency derivatives exchange, holds approximately 52,631.9 BTC, valued at around USD 4.32 billion, representing about 0.25% of the total bitcoin supply.
These holdings reflect BitMEX's strategy to maintain a secure platform for users while also demonstrating its commitment to Bitcoin's long-term potential. As a key player in the crypto trading space, BitMEX’s BTC reserves align with the growing trend of exchanges holding significant Bitcoin assets.
MTGOX K.K.
BTC Holdings: 44,378
MTGOX K.K., once the world's largest bitcoin exchange, still holds a significant amount of bitcoin despite its infamous collapse in 2014. The company's bankruptcy estate currently possesses about 44,378 BTC, valued at approximately USD 3.65 billion. These holdings are part of the ongoing process to repay creditors affected by the exchange's collapse.
The MTGOX case serves as a reminder of the risks associated with centralized cryptocurrency exchanges and has influenced the development of more secure trading platforms.
SpaceX
BTC Holdings: 8,285
SpaceX, founded by Elon Musk in 2002, is a pioneering private aerospace manufacturer and space transportation company. Known for its ambitious goal of reducing space travel costs and enabling the colonization of Mars, SpaceX has achieved numerous milestones, including the development of the Falcon 1, Falcon 9, and Falcon Heavy rockets, as well as the Dragon spacecraft.
The company’s significant Bitcoin reserve of 8,285 BTC reflects its strategic approach to asset management and its broader interest in digital currencies. SpaceX’s investment in Bitcoin aligns with Musk's known enthusiasm for cryptocurrencies and serves as a hedge against economic fluctuations while supporting its expansive technological and exploratory objectives.
The Tezos Foundation
BTC Holdings: 6,169
The Tezos Foundation is a Swiss-based nonprofit organization focused on fostering the development and adoption of the Tezos blockchain. Founded to support the growth of the Tezos ecosystem, the foundation provides funding and grants to projects that contribute to the advancement of blockchain technology and its applications. It also engages in community education and promotes ethical practices within the blockchain space.
The foundation’s holdings of 6,169 BTC demonstrate its commitment to leveraging digital assets as part of its broader mission to drive innovation and support the development of transformative technologies.
Government and Sovereign Wealth Fund Bitcoin Holdings
As you explore the landscape of bitcoin adoption by governments, you'll find a diverse range of approaches and motivations. From pioneering legal tender status to managing seized assets, countries are navigating the complexities of cryptocurrency in various ways. Let's examine some notable examples of government bitcoin holdings.
Bhutan
BTC Holdings: 12,568
Bhutan has quietly emerged as one of the top five countries by Bitcoin holdings, with approximately 12,568 BTC in its reserves. Unlike nations like the U.S. and China, which primarily hold Bitcoin from criminal asset seizures, Bhutan's holdings are a result of active participation in the cryptocurrency market.
The country leverages its abundant hydroelectric power to mine Bitcoin through state-backed operations, aiming to diversify its economy. Bhutan’s proactive approach to accumulating Bitcoin distinguishes it as one of the largest holders of sovereign Bitcoin reserves not tied to asset seizures.
El Salvador
BTC Holdings: 5,931
El Salvador has made history as the first country to adopt bitcoin as legal tender. Unlike other governments that primarily hold cryptocurrencies through seizures, El Salvador has been actively purchasing bitcoin. The country's holdings now stand at 5,931 BTC, valued at approximately USD 0.48 billion. Since November 2022, the government has implemented a "1 Bitcoin per Day" programme, purchasing 1 BTC daily regardless of its market value. This proactive approach has placed El Salvador at the forefront of national cryptocurrency adoption.
President Nayib Bukele's administration has taken several steps to integrate bitcoin into the country's economy. The government distributed USD 30 in bitcoin to citizens who signed up for the Chivo electronic wallet, allocating up to USD 75 million for this initiative. Additionally, El Salvador has announced plans to build Bitcoin City, a circular city at the base of the Conchagua volcano, which would provide geothermal energy for bitcoin mining.
USA
BTC Holdings: 208,109
The United States holds over 208,109 BTC, entirely from asset seizures, such as the Silk Road case. While it sold over 40,000 BTC in late 2022, no further sales have been made since March 2023, aside from a+10,000 BTC transfer mid August 2024. It's important to note that roughly 90,000 BTC in U.S. custody belongs to victims of the Bitfinex hack and is not for the government to hold or sell.
Recently re-elected President Trump recently announced the U.S. Bitcoin Strategic Reserve initiative, a proposal to retain the country’s Bitcoin holdings for the long term. While this initiative is not yet in effect, it is expected to be implemented when he takes office in January 2025. If enacted, the reserve could play a pivotal role in shaping U.S. policy on Bitcoin and its place in the global economy.
For countries like China and the United Kingdom, Bitcoin holdings are primarily the result of criminal asset seizures. China’s roughly 190,000 BTC holdings stem from the PlusToken Ponzi scheme, while the UK’s 61,245 BTC comes from a significant money laundering case. The future of these assets is uncertain, as these countries may choose to liquidate them or retain them, potentially aligning or front running a yet to be aprooved U.S. Bitcoin Strategic Reserve.