Strategy Holds Far More Bitcoin Than Any Public Company
With more than 845,000 BTC, Strategy has a huge lead over other public companies. Meanwhile, Metaplanet is expanding and working on a U.S. Bitcoin treasury through Superplanet.
Key Takeaways
- Strategy holds more than 845,000 BTC, making it by far the largest public Bitcoin holder among public companies.
- Twenty One Capital, Metaplanet, MARA Holdings, and Bitcoin Standard Treasury Company follow with 43,514, 43,000, 35,577, and 30,021 BTC, respectively.
- Metaplanet is working on Superplanet, a U.S. Bitcoin treasury company, and wants to contribute 2,100 BTC and $2.5 million.
More and more public companies are putting bitcoin on their balance sheets, but the gap between them is extremely wide. Strategy remains by far the largest public Bitcoin holder with more than 845,000 BTC. Japan's Metaplanet also stands out with 43,000 BTC and is also working on a second Bitcoin treasury company in the United States.
Strategy Far Ahead of the Rest
The top five public companies with the most bitcoin mainly show how big Strategy's lead is. Twenty One Capital follows with 43,514 BTC, just ahead of Metaplanet with 43,000 BTC. After that come MARA Holdings with 35,577 BTC and Bitcoin Standard Treasury Company with 30,021 BTC.
Together, the numbers two through five hold a little more than 152,000 BTC. Strategy therefore owns more than five times as much bitcoin as those four companies combined. That makes it clear that Michael Saylor's company is still in a category of its own.
That list is just a snapshot, though. Companies can buy more bitcoin or sell some, and not every company reports its holdings at the same time. In June 2026, public companies together held about 1.16 million BTC, equal to roughly 5.5% of bitcoin's total circulating supply.
Metaplanet Keeps Expanding
Metaplanet said on August 18 that it holds 43,000 BTC. That puts the Japanese company firmly in the global top tier of public Bitcoin holders. The company now wants to expand that strategy outside Japan as well.
To do that, Metaplanet is working on Superplanet, a U.S. Bitcoin treasury company centered around Super League Enterprise. The plan is for Metaplanet, through its U.S. subsidiary, to contribute 2,100 BTC and $2.5 million. In return, it would receive shares and warrants, among other things. If the deal goes through, Metaplanet would own about 95.7% of the common shares.
Completion is expected in the fourth quarter of 2026, but it is not final yet. Shareholders still need to approve it, and other conditions still need to be worked out. According to the announcement, the shares Metaplanet receives will have a five-year lock-up.
Why This Matters
The rise of Bitcoin treasury companies shows that bitcoin is becoming a permanent part of the balance sheet for more and more public companies. At the same time, the new fair-value accounting rules for crypto assets make it easier for companies to report these positions more transparently. For European crypto followers, the interesting part is that this model no longer comes only from the U.S., but is also spreading in Asia and possibly through new U.S. structures. The debate over dilution at Metaplanet also shows that this strategy is not just about bitcoin, but also about shareholder trust.
That does not mean a large bitcoin stash automatically creates more financial strength. Bitcoin's price can move fast, and companies that expand their position with new capital or debt take on extra risk. So looking only at the number of BTC tells only part of the story.
