Many public companies are now turning to a Bitcoin strategy, with many of them undergoing treasury changes. Notably, public companies holding Bitcoin on their balance sheets have seen their aggregate holdings surge past $113 billion in early September.
This balance shows not only strong institutional conviction in Bitcoin as a reserve asset but also the adoption of crypto‐treasury models among public companies, and here are the major stakeholders.
Following close behind are mining companies and firms explicitly structured around Bitcoin accumulation. MARA Holdings (Marathon Digital), for example, is the second-largest public company holding Bitcoin, with 52,477 BTC worth $6.05 billion in its coffers. Other names include XXI (Twenty-One Capital) with 37,229 BTC, Bullish with 24,340 BTC, and Riot Platforms with 19,309 BTC.
There are many intersecting motivations behind these large Bitcoin treasury holdings. First, many leaders of these companies view Bitcoin as an inflation hedge, as it is commonly referred to as digital gold.
At the time of writing, Bitcoin is trading at $115,220, up by 0.9% in the past 24 hours.
