Strategy (formerly MicroStrategy), the largest corporate bitcoin holder, has served as a model for a host of other counterparties. As a result, private and public firms from around the world have accumulated a total of 1.18 million BTC (about $139.5 billion), according to Bitcoin Treasuries.
According to the resource, as of July 22, 2025, public companies have accumulated 887,344 BTC, while private companies have accumulated 292,355 BTC. In total, these two sectors account for a share of almost 6% of the circulating supply of the asset or 5.6% of the total.
Meanwhile, the top 5 public companies account for 3.4%. The top five holders among private firms, in turn, account for 1.36% of the total supply.
More about the largest holders
Among all the companies that have invested in bitcoin to some extent, Strategy stands out. We have analyzed its business model in detail in a separate piece:
Many other companies have taken its approach as a basis. It consists in constant borrowing of funds in order to buy bitcoins. The returns are generated by the growth in the value of the asset.
Strategy receives funding through the issuance of various securities. In particular, the company announced the issue of new class A shares – STRC – for the amount of $500 million. In total, it controls 607,770 BTC (more than $72 billion at the current exchange rate).
The fourth and sixth places in the ranking are miners – MARA and Riot Platforms. On the fifth place is the public organization Twenty One Capital (XXI). This is a joint project of Tether, Cantor Fitzgerald, SoftBank and Bitfinex.
Rounding out the top five specifically public holders is Trump Media & Technology Group, which is backed by US President Donald Trump. It has already invested about $2 billion in bitcoin and has a planned reserve of $2.5 billion.
The largest private holder of the first cryptocurrency is Block.one, the developer of the EOS Network project. Also in the ranking are the previously mentioned Tether, the USDT issuer, which plans to become the largest miner in the world, and billionaire Ilon Musk’s firm SpaceX.
The latter recently transferred some of its controlled bitcoins, which may indicate a sale.