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MSTR is the largest Bitcoin public company with 506k+ Bitcoins ($44B+).
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Tech firms (Tesla and Block) and miners (Marathon & Galaxy) are among the top corporate holders
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Analysts focus on Institutional buyers & macro events driving BTC market more and more
Michael Saylor’s Strategy, formerly MicroStrategy, is the world’s largest Bitcoin holder among publicly traded companies. According to the latest reports, Strategy held 506,137 BTC at the end of March. This stash was primarily accumulated through debt offerings and equity sale beginning in 2020.
The early Bitcoin accumulation of Strategy brought in a slew of other corporate entities to the crypto ecosystem. This includes Bitcoin miner companies like Marathon Digital Holdings. Marathon’s approximately 26,842 BTC in Bitcoin, which it has accumulated primarily through its mining operations makes it the second largest known public company Bitcoin holder currently.
Galaxy Digital is ranked third among public companies with 15,449 BTC. This is part of a broader, more diversified crypto investment plan. Tesla, Coinbase Global and Hut 8 Mining are among the top 10 Bitcoin-holding public companies.
Related :Strategy Launches $2.1 billion Share Sale to Fund Bitcoin Acquisitions
These firms began investing in Bitcoin after the 2021 bull market. Their buying activity contributed to the market surge which pushed Bitcoin above $69,000 at that time, marking a record high.
How does history contextualize current holdings?
Bitcoin’s price dropped significantly during the bear market of 2022. This was a result of the collapse of major crypto firms such as Voyager Celsius and FTX. BTC fell 77% since its peak in 2021, and was below $16,000 during this period.
In January 2025, Bitcoin’s price climbed above $109,000, thanks to a recent resurgence sparked by institutional interest (such as the launch of US spot Bitcoin ETFs). Since then, it has fallen from that peak and is currently trading at around $84,623.
How has institutional interest changed Bitcoin analysis?
In light of Bitcoin’s price behavior in the last four years it is clear that institutional involvement plays a critical role in influencing price cycles and market cycles.
For instance, notable large purchases by Strategy and other institutional-focused firms helped fuel the 2021 bull run. The launch of the US spot Bitcoin ETF in early 2024, and ongoing discussions about the potential US government Bitcoin Stockpile were also positive factors that fueled the recent price surge to new all-time records.
Related: The Hut 8 pivots to AI and spins off mining to Trump-linked ‘American Bitcoin
These institutional and policy developments have now heavily influenced how many analysts approach Bitcoin. While technical chart analysis is still important, many traders now also focus on macroeconomic events as well as institutional buying and selling activities when making market predictions and price estimates.
This has led to a change in the common trading philosophies of the crypto market compared to previous cycles.
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