Major corporations now hold over 771,500 Bitcoin collectively, with the top five treasury holders amassing significant stakes through diverse accumulation strategies as of August 2025. MicroStrategy dominates with 628,000 BTC, leveraging debt instruments and stock sales under CEO Michael Saylor's leadership, effectively transforming into a Bitcoin-focused investment vehicle.
Marathon Digital Holdings (MARA) follows with nearly 50,000 BTC, primarily self-mined and retained as operational revenue—a 170% annual increase—while preparing for further billion-dollar acquisitions. Twenty One Capital holds 43,500 BTC as a pure-play Bitcoin entity backed by Tether, Cantor Fitzgerald, and SoftBank, offering transparent "Bitcoin-per-share" exposure. Bitcoin Standard Treasury (BSTR) aggressively accumulated 30,000 BTC through market purchases, generating social media-driven momentum, and Riot Platforms maintains a conservative mining approach with under 20,000 BTC.
Marathon CEO Fred Thiel emphasized the strategic imperative: "Every new Bitcoin cycle means higher risk if you don't have BTC on your balance sheet." Historical patterns since MicroStrategy's 2020 entry show corporate treasury allocations precede BTC price rallies by reducing liquid supply and enhancing institutional credibility. These holdings—representing tens of billions in value—signal Bitcoin's maturation as a treasury asset, with public company shares increasingly traded as BTC proxies.