Strategy Holds 77% of Public Company Bitcoin Reserves, New Q1 2025 Report Shows

• MicroStrategy holds 77% of all Bitcoin owned by public companies as of Q1 2025.
• Public company Bitcoin holdings neared 700,000 BTC, doubling since 2023.
• Corporate BTC accumulation remains highly concentrated despite broader adoption.

A new report by Bitwise Asset Management reveals that publicly traded companies now collectively hold nearly 700,000 Bitcoin, with Strategy accounting for 77% of that total as of March 31, 2025. The data, compiled using BitcoinTreasuries.net and company filings, highlights the continued concentration of Bitcoin holdings among a small group of corporate entities, led by Strategy.

According to the report, publicly listed companies’ total number of Bitcoin holdings has surged over the past two years. As of the first quarter of 2025, the aggregate amount sits just under 700,000 BTC. This marks a sharp increase from 2023 levels when corporate holdings crossed the 300,000 BTC mark.

The data reflects disclosures by firms that have added Bitcoin to their balance sheets since 2020. Before that year, no substantial Bitcoin ownership by public companies was recorded. The accumulation trend began with Strategy’s initial acquisition in 2020 and has continued through the first quarter of 2025.

Strategy alone owns more than 75% of the total corporate-owned BTC. Regarding its total, the industry in 2020 held 83% of the combined among public firms. It showed that while this share dropped marginally in the subsequent years due to other firms entering the economy, the company remained dominant.

Shift in Holdings from 2020 to 2025

Strategy’s share of the corporate-owned BTC pool changed as other companies accumulated the asset. 2021, its share fell to 58% and rose to 64% in 2022. During this period, overall public firm holdings remained relatively stable.

The most notable expansion occurred between 2023 and 2025. In 2023, public company Bitcoin holdings climbed to over 300,000 BTC. Strategy’s share was 70% at the time, suggesting that while other firms were buying, its acquisitions outpaced the rest.

By 2024, the total number of BTC held by public firms had exceeded 600,000. Strategy then held 75% of that total. In the latest data covering Q1 2025, the firm increased its dominance to 77%, despite the broader growth in total corporate holdings.

Tracking Institutional Accumulation

This data is compiled from BitcoinTreasuries.net, which collates reports from companies reporting their holding of Bitcoins. These consist of some reports submitted to the relevant authorities, financial statements, reports, and any other information available in the public domain. The values stated above derive from reported balances of BTC held in the respective companies and exclude any private individuals or trusts.

The increase in total holdings indicates that more firms listed on the stock exchange are inclined to consider Bitcoin a long-term investment. Nevertheless, the concentration of distribution remains strong and is greatly dominated by a single firm in the business.