Corporate adoption of Bitcoin continues to grow across global public markets, with 148 publicly traded companies now holding the digital asset on their balance sheets, according to new research from TechGaged. 

Collectively, those companies control 1,162,380 BTC, valued at approximately $82.55 billion, representing about 5.54% of Bitcoin’s total maximum supply of 21 million coins, the analysis found. 

Strategy dominates that landscape. The company controls 738,731 BTC, or about 63.6% of all Bitcoin held by the public companies in TechGaged’s dataset, more than the combined reserves of the other 147 firms.  

“The growing number of companies holding Bitcoin shows that the asset is increasingly being viewed as a strategic treasury reserve,” said Rokas Baltrusaitis, Research Analyst at TechGaged. “However, the data also highlights how concentrated corporate ownership remains, with Strategy alone accounting for a majority of publicly reported corporate Bitcoin holdings.” 

TechGaged estimates that Strategy’s hoard now equals nearly 4% of total Bitcoin supply, cementing its status as one of the most influential institutional players in the market. Other sizable holders include MARA Holdings, XXI, Metaplanet, Bitcoin Standard Treasury Company, Bullish, Galaxy Digital, Riot Platforms, Coinbase Global and Hut 8 Mining. 

The top 10 public companies collectively own 991,080 BTC, or 85.3% of all Bitcoin held by corporates, while the top 20 account for 92.9%, the analysis shows. The median company in the dataset holds about 290.5 BTC, underscoring a long tail of smaller public firms experimenting with Bitcoin allocations.  

These entities generally fall into three camps: Bitcoin miners, crypto‑native financials and operating companies that have adopted Bitcoin as a long‑term balance‑sheet asset. 

TechGaged based its findings on public treasury disclosures compiled from CoinGecko’s Bitcoin Treasury tracker and cross‑checked with company filings and reported holdings.