Publicly Traded Bitcoin Treasury Companies
Here’s a detailed breakdown of the top publicly traded companies holding Bitcoin in their treasuries:
| Rank | Company Name | Ticker Symbol | Bitcoin Held (₿) | Market Value ($) | Enterprise Value ($) | Revenue ($) | P/E Ratio | Free Cash Flow ($) | EV/Revenue | Debt/Equity | Profit Margin | % of Total Supply |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | MicroStrategy, Inc. | MSTR | 597,325 | 65.3B | 112.9B | * | N/A | * | N/A | * | 2.844% | |
| 2 | MARA Holdings, Inc. | MARA | 50,000 | 5.5B | 6.2B | * | N/A | — | — | * | 0.238% | |
| 3 | XXI | CEP | 37,230 | 4.1B | 306M | * | N/A | — | — | * | 0.177% | |
| ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
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Key Insights:
- MicroStrategy leads with 597,325 BTC, accounting for 2.844% of Bitcoin’s circulating supply.
- Tesla holds 11,509 BTC ($1.26B), reflecting a strategic reserve despite its primary automotive focus.
- Metaplanet (Japan) and Coinbase (U.S.) highlight global diversification in corporate Bitcoin holdings.
Bitcoin Distribution Trends
Historical Growth
- 2020–2023: Corporate Bitcoin adoption surged, with MicroStrategy and Tesla making headlines.
- 2024: Mining companies like Riot Platforms and CleanSpark expanded holdings through operational rewards.
Current Allocation
- Public Companies: 4.045% of total Bitcoin supply.
- Private Firms & ETFs: Not included here but growing rapidly.
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FAQ Section
1. Why do companies hold Bitcoin in their treasuries?
Companies like MicroStrategy view Bitcoin as a hedge against inflation and a long-term store of value, diversifying reserves beyond traditional assets.
2. How does Bitcoin impact a company’s balance sheet?
Bitcoin is recorded at cost and subject to impairment rules (GAAP), but market gains aren’t realized until sold. Volatility can affect quarterly reports.
3. Which industries dominate Bitcoin treasury holdings?
- Technology (MicroStrategy, Block)
- Mining (MARA, Riot)
- Automotive (Tesla)
- Finance (Coinbase, Galaxy Digital)
4. What’s the risk of corporate Bitcoin exposure?
Price volatility and regulatory uncertainty are key risks. Companies mitigate this by holding long-term and using dollar-cost averaging.
5. How can investors track these holdings?
Sites like BitcoinTreasuries.NET and SEC filings provide real-time updates on corporate Bitcoin reserves.
Future Outlook
- Institutional Adoption: More firms may allocate 1–5% of treasuries to Bitcoin.
- Regulation: Clarity could boost corporate participation, especially in tradFi sectors.
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Data sourced from BitcoinTreasuries.NET and public filings. Updated June 2024.
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