Corporate Bitcoin appetite just hit a new high-water mark. In the second quarter of 2025 alone, companies added a record 159,107 BTC to their treasuries, worth over $17.6 billion at current prices. That brings total corporate holdings to more than 847,000 BTC — roughly 4% of Bitcoin’s 21 million cap — and sends a message the market can no longer ignore: Bitcoin is officially a corporate asset class.
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According to data from Bitwise Asset Management, this marks a 23% increase in holdings quarter-over-quarter, and the value of those holdings swelled to $91 billion by the end of Q2. That valuation used the quarter-end BTC price of $107,754, although Bitcoin has since broken above $112,000. The move has not just been about quantity, but acceleration, with 46 new public firms entering the space, raising the total to 125, a 58% quarterly jump.
The Corporate Gold Rush Begins with Strategy
At the center of the boom is Strategy (MSTR), which now holds a staggering 597,325 BTC. Led by Bitcoin evangelist Michael Saylor, the company continues to double down through convertible notes and ATM offerings to fund purchases. Strategy’s aggressive buying has helped send its stock up 43% year-to-date, outpacing the S&P 500’s 6.4% gain.
Saylor’s approach is being echoed in other boardrooms. MARA Holdings (MARA) follows as the second-largest corporate holder with nearly 50,000 BTC. Its stock has also rallied more than 10% in 2025.
From Tokyo to Texas, New Entrants Fuel the Fire
Japan’s Metaplanet (JP:3350) is turning heads. It has become the most traded stock on the Tokyo Stock Exchange, overtaking legacy giants like Toyota and Sony, as it builds a position north of 13,000 BTC. Twenty One launched with a $685 million raise and has already deployed over $450 million into Bitcoin.
Meanwhile, GameStop (GME) is the latest non-crypto-native name to enter the ring, securing 4,710 BTC, and Trump Media is seeking $2.5 billion in funding to ramp up its holdings. These moves underscore how mainstream Bitcoin treasury strategies have become.
The London BTC Company, formerly Vinanz, just secured $2 million in new capital through a share offering to expand its crypto reserves. The company’s mining footprint across the US and Canada puts it in a unique position, though its stock remains volatile, down more than 40% year-to-date.
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