Strategy leads all publicly traded companies with 843,775 BTC worth approximately $58 billion as of July 25, 2026, according to data from bitcointreasuries.net. The top ten corporate bitcoin holders reveal a stark performance divide in 2026, with mining companies like Riot Platforms gaining 73% year-to-date while treasury-focused firms like Twenty One Capital fell 47.9%. This split reflects investor preference for companies that produce bitcoin and operate AI infrastructure over firms that solely accumulate the asset through capital raises, as corporate bitcoin adoption strategies face their first major market test since the 2020-2021 treasury wave began.
Top 10 Corporate Bitcoin Holders as of July 25, 2026
The ten largest corporate bitcoin holders ranked by BTC holdings:
- Strategy (MSTR): 843,775 BTC
- Twenty One Capital (XXI): 43,514 BTC
- Metaplanet (MPJPY): 43,000 BTC
- Mara Holdings (MARA): 36,303 BTC
- Bullish (BLSH): 24,300 BTC
- Strive (ASST): 19,921 BTC
- SpaceX (SPCX): 18,712 BTC
- Coinbase Global (COIN): 16,492 BTC
- Riot Platforms (RIOT): 15,680 BTC
- Cleanspark (CLSK): 13,924 BTC
Strategy's lead is approximately 843,775 BTC, more than 19 times what second-place Twenty One Capital holds. The company started buying bitcoin in 2020 when the idea of a Nasdaq-listed software company converting its treasury into bitcoin sounded fringe.
Strategy Holds 843,775 BTC Despite First-Ever Sales
Strategy's stock has fallen 40% in 2026 even as its bitcoin holdings kept growing. The company abandoned its long-held "never sell" approach this year, first selling 32 BTC in late May to help fund preferred stock dividend payments. Between late June and early July, Strategy sold another 3,588 BTC for roughly $216 million to meet stock-related obligations and add cash to its balance sheet. Even after those transactions, Strategy has remained the world's largest corporate bitcoin holder by a wide margin.
Riot Platforms and Cleanspark Lead Mining Stock Gains
Mining companies are having a strong year in 2026. Riot Platforms is up 73% year-to-date, the best performance among the top ten holders. Cleanspark has gained 39% as it builds out mining data centers and battery storage projects across North America. Mara Holdings is up 31% on the strength of its own mining and treasury strategy, holding 36,303 BTC while continuing to expand its mining footprint.
Miners can accumulate bitcoin at a production cost that is often below the prevailing market price, giving them an advantage that most corporate buyers cannot match. Many publicly traded miners have spent the past few years building out artificial intelligence infrastructure, creating a second line of business that helps diversify revenue beyond bitcoin mining alone.
Treasury Companies Face Sharp Declines in 2026
Twenty One Capital launched in March 2025 and moved quickly to become the second-largest corporate bitcoin holder. The Austin-based firm was backed by crypto interests, including Tether, and initially led by entrepreneur Jack Mallers, who departed the company last week. As of Friday's close, Twenty One Capital has dropped 48% year-to-date despite holding 43,514 BTC.
Metaplanet, the Tokyo-listed company that pivoted from hotel development to a bitcoin treasury strategy, is down 49% as of July 25, 2026. The company still holds 43,000 BTC, the third largest position on this list.
Bullish, the Cayman Islands-based exchange operator that went public through a SPAC deal in August 2025, holds 24,300 BTC but has seen its stock fall 37% as crypto trading volumes slumped. Strive, the Dallas-based asset manager built around a bitcoin treasury, holds 19,921 BTC and is down 24% since the start of the year.
Coinbase, the San Francisco exchange founded by Brian Armstrong, holds 16,492 BTC but has watched its stock fall 31% this year as trading volumes cooled across the industry.
SpaceX Enters Top 10 After June 2026 IPO
SpaceX completed its IPO on June 12, 2026, pricing shares at $135 and raising roughly $85.7 billion in the largest IPO in history, surpassing Saudi Aramco's 2019 listing. Shares began trading on the Nasdaq under the ticker SPCX and opened at $150. The stock briefly pushed SpaceX's market capitalization above $2.6 trillion during a run to $225.64 on June 16.
Shares fell below the IPO price by mid-July and were trading at $115 by Friday's close on July 24, roughly 15% below the offering price and 45% to 50% off the June peak. SpaceX disclosed in its IPO filing that it held 18,712 BTC, worth about $1.45 billion at the time, a position that still ranks ahead of Coinbase, Riot Platforms and Cleanspark on the bitcoin holdings list.
Metaplanet Pivots From Hotels to Bitcoin Treasury
Metaplanet was founded in 1999 and spent most of its history developing and operating hotels in Japan. The company only began accumulating bitcoin in recent years, announcing plans to hold the asset long term on the Tokyo Stock Exchange. That pivot turned Metaplanet into the third-largest corporate bitcoin holder in the world, with 43,000 BTC. The company's bitcoin treasury has reached a scale unmatched by any other Japanese public company.
FAQ
What company holds the most bitcoin among publicly traded firms?
Strategy holds 843,775 BTC as of July 25, 2026, worth approximately $58 billion, making it the largest corporate bitcoin holder by a wide margin—more than 19 times the holdings of second-place Twenty One Capital.
Why are mining companies outperforming treasury companies in 2026?
Mining companies like Riot Platforms (up 73% year-to-date) and Cleanspark (up 39%) can accumulate bitcoin at production costs often below market price and have diversified into AI infrastructure, while treasury-focused companies depend on capital markets staying open to fund purchases and have seen stocks fall 37% to 49% this year.
When did SpaceX complete its IPO and how much bitcoin does it hold?
SpaceX completed its IPO on June 12, 2026, pricing shares at $135 in the largest IPO in history, raising roughly $85.7 billion. The company disclosed it held 18,712 BTC in its IPO filing, ranking seventh among the top ten corporate bitcoin holders.
