Public companies worldwide now hold over $79 billion in Bitcoin, with corporate adoption reaching a fresh milestone. According to data from Phoenix Group, the top 151 publicly listed firms collectively own 1,201,521 BTC, representing roughly 5.72% of their total holdings. The undisputed leader is Strategy (formerly MicroStrategy), which commands 843,775 BTC valued at approximately $55.49 billion.
The latest rankings show Twenty One Capital in second place with 37,229 BTC ($2.45 billion), followed by Marathon Digital Holdings at 35,303 BTC ($2.32 billion). Other notable corporate holders include Metaplanet (35,102 BTC), Bullish (24,340 BTC), Strive (19,864 BTC), Galaxy Digital Holdings (17,102 BTC), Hut 8 Corp (15,679 BTC), Riot Platforms (15,679 BTC), and Coinbase (14,458 BTC).
Amid this backdrop, Nasdaq-listed Chinese insurtech company Zhibao Technology (ZBAO) announced on Wednesday a non-binding term sheet to sell stock in exchange for approximately 3,500 Bitcoin, worth about $220 million at current prices. The private investment in public equity (PIPE) deal involves buyer Joyertech and Information OPC, which would pay in BTC and gain majority board control upon closing. Zhibao, which had received a Nasdaq deficiency notice on July 15 for trading below $1 per share, saw its stock price briefly double to $0.40 before settling around $0.24—a 60% gain following the announcement.
The transaction, still subject to due diligence and regulatory approvals, would immediately give Zhibao a Bitcoin treasury while current management continues running day-to-day operations until a later restructuring. The move mirrors a playbook used by dozens of firms in recent years, though the trend has seen mixed results; some past corporate Bitcoin adopters later sold holdings or wound down.
With more than 150 public companies now on the Bitcoin treasury bandwagon, the total value locked underscores the asset’s deepening integration into traditional financial markets.