Academy

Market Insights

How many companies hold Bitcoin on their balance sheet?

How many companies hold Bitcoin on their balance sheet?

As of 2025, over 140 companies worldwide, both public and private, hold Bitcoin on their balance sheets — and the number is growing steadily across all regions and sectors.

How much Bitcoin do public and private companies hold globally?

How much Bitcoin do public and private companies hold globally?

Collectively, corporate treasuries hold over 1.1 million BTC, representing more than 5% of the total supply. The figure has doubled since 2023.

How is the Bitcoin Treasury Company market expected to grow?

How is the Bitcoin Treasury Company market expected to grow?

Analysts estimate that by 2030, between 5% and 10% of all Bitcoin could be held by corporate treasuries. This would imply up to 2 million BTC in long-term institutional cold storage.

What is the correlation between BTC price and Bitcoin treasury market cap?

What is the correlation between BTC price and Bitcoin treasury market cap?

The market cap of BTC treasury companies increases exponentially with BTC price — especially when companies trade at a premium to their NAV (Net Asset Value).

The market cap of BTC treasury companies increases exponentially with BTC price — especially when companies trade at a premium to their NAV (Net Asset Value).

Why do some Bitcoin Treasury Companies trade at a premium (mNAV)?

Why do some Bitcoin Treasury Companies trade at a premium (mNAV)?

Because the market prices in not only their BTC holdings, but their governance, narrative, structure, and ability to accumulate more BTC per share over time.

Because the market prices in not only their BTC holdings, but their governance, narrative, structure, and ability to accumulate more BTC per share over time.