Which Public Companies Hold the Most Bitcoin?
Some public companies have bet their entire business model on Bitcoin, but owning their shares comes with risks that buying the coin itself never would. Find out who holds the most and whether the trade-off is worth it.
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In 2026, Strategy has amassed an impressive 846,000 Bitcoin (CRYPTO:BTC), representing approximately 65% of the nearly 1.3 million Bitcoin held by public companies. Together, these companies own around 6.2% of the total 21 million Bitcoin that will ever exist, worth about $109 billion at a price of roughly $84,018 per coin.
So, besides Strategy, which other public companies hold significant Bitcoin? What advantages do investors gain by buying shares in these companies rather than buying Bitcoin directly?
The 5 US-Listed Public Companies That Hold the Most Bitcoin
The following ranking features U.S.-listed companies, based on their latest reported Bitcoin holdings. Keep in mind that companies frequently buy and sell their Bitcoin, so these figures can fluctuate quickly.
1. Strategy Holds 846,000 Bitcoin
Strategy (NASDAQ:MSTR | MSTR Price Prediction) leads the pack with 846,000 Bitcoin, valued at about $71 billion, which makes up about 4% of all Bitcoin that will ever exist. While it started as MicroStrategy, the company now primarily focuses on acquiring more Bitcoin, recently purchasing an additional 950 coins in mid-September.
2. Twenty One Capital Holds 43,514 Bitcoin
Twenty One Capital (NYSE:XXI) holds 43,514 Bitcoin, worth approximately $3.7 billion. Even though it has a significant amount, Strategy holds about 19 times as many coins. The firm was established with Bitcoin as its primary asset, meaning that its stock price is closely tied to Bitcoin’s market movements.
3. MARA Holdings Holds 35,303 Bitcoin
MARA Holdings (NASDAQ:MARA) owns 35,303 Bitcoin, valued at around $3 billion. It stands out as the only mining company in the top five. By operating data centers to secure the Bitcoin network, MARA can increase its holdings without additional purchases. However, it is also shifting some of its resources toward AI computing, which may diversify its revenue streams away from Bitcoin mining.
4. Bitcoin Standard Treasury Company Holds 30,021 Bitcoin
Bitcoin Standard Treasury Company possesses 30,021 Bitcoin, worth about $2.5 billion. This firm was designed specifically to buy and hold Bitcoin, meaning it relies heavily on Bitcoin’s performance for support—if the price drops, the company has little else to fall back on.
5. Strive Holds 26,354 Bitcoin
Strive (NASDAQ:ASST) holds 26,354 Bitcoin, valued at roughly $2.2 billion. Initially an asset management firm for clients, Strive refocused its business on Bitcoin investing. Recently, it acquired 1,355 coins at around $79,475 each, and it is on track to surpass Twenty One Capital for the second spot if it continues purchasing around 1,200 coins per week.
Metaplanet, Galaxy, SpaceX and Tesla Also Hold Bitcoin
Although not in the top five, several other public companies also hold Bitcoin. Tokyo-listed Metaplanet owns 43,000 Bitcoin, ranking third globally but not listed in the U.S. Galaxy Digital (NASDAQ:GLXY) has 25,723 coins, just behind Strive.
Other companies with notable Bitcoin holdings include Bullish (23,300), SpaceX (18,712), Coinbase (16,492), Riot Platforms (15,680), Tesla (11,509), Trump Media (9,542), and Block (9,032). While their Bitcoin stacks range from about $760 million to $2 billion, these firms generate most of their income through business models beyond Bitcoin.
In contrast, GameStop holds only a single Bitcoin, currently valued at about $84,000, which represents a minor fraction for a retailer with significant sales revenue.
Bitcoin Stocks Carry Risks That Owning the Coin Does Not
Investing in companies that hold Bitcoin comes with certain risks that holding Bitcoin directly does not. A buyer of Bitcoin shares also takes on the company’s operations, debts, and potential future share sales. If a company issues new shares at a price lower than the value of the Bitcoin behind each share, existing shareholders end up with less Bitcoin per share.
On the other hand, individuals who invest directly in Bitcoin or through a spot Bitcoin fund own only the cryptocurrency itself, without the added risks associated with a company’s business operations. This means a Bitcoin stock could gain value faster than the coin itself when investors are willing to pay a premium for the shares. Conversely, it could also lose value faster if that premium disappears.
Which Public Companies Hold the Most Bitcoin in 2026?
In summary, Strategy, Twenty One Capital, MARA, Bitcoin Standard Treasury Company, and Strive are the top five US-listed companies holding the most Bitcoin. Together, they control about 981,000 Bitcoin, accounting for roughly 76% of all Bitcoin held by public companies.
Strategy stands out by a wide margin, and if Strive continues its buying spree, it may rise to second place by year-end. For those looking to invest in Bitcoin’s value, a spot fund may sidestep many of the risks tied to these companies’ operations, share sales, and debt issues.
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Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
