Corporate Bitcoin Holdings Hit 1.3 Million BTC, but One Company Drove Most of the Growth
CryptoQuant figures reportedly put publicly listed companies’ Bitcoin holdings at 1.3 million BTC. But most of the reported increase came from Strategy, and the underlying totals do not add up.
- Reported holdings rose 31% over 14 months.
- Strategy is credited with accumulating 216, 060 BTC.
- Only 50 of 205 firms reportedly bought BTC in the past six months.
- The company-level figures exceed the stated total increase.
The figures, attributed to CryptoQuant in a post on X, point to a sizable corporate Bitcoin reserve. They do not show a broad-based buying surge. Strategy reportedly accounted for most of the increase, while the data also shows limited recent buying and sales by some newer treasury firms.
The dates and totals need clarification
CryptoQuant’s figures reportedly put publicly listed companies’ combined holdings at 1.3 million BTC, up 31% over 14 months. They also say holdings increased by 304, 337 BTC since August 14, 2025. The information provided does not give the post’s publication date, the exact dates covered by the 14-month window, or the baseline used to calculate the 31% increase. If both figures cover the same period, a 14-month window beginning on August 14, 2025, would end around October 2026. The reporting date is needed to confirm that this is the intended timeframe.
The breakdown has another unexplained mismatch. Strategy reportedly added 216, 060 BTC, while other companies reportedly added 109, 935 BTC. Together, that is 325, 995 BTC, or 21, 658 BTC more than the stated overall increase of 304, 337 BTC.
Strategy’s reported 216, 060 BTC accounts for about 71% of the stated 304, 337 BTC increase. But the separate figure for other companies does not fit that total. Without the underlying dataset and a clear explanation of which companies, dates, and calculations each figure covers, these should be treated as separate, unreconciled estimates, not a verified breakdown.
Fewer firms appear to be buying
The reported data says 50 of 205 firms with a history of holding BTC bought some in the past six months. It does not say how much they bought, explain the sample’s inclusion criteria, or give the exact date range. The count alone cannot show whether the group’s combined holdings rose or fell.
CryptoQuant’s figures also say 44 of 100 newly formed Bitcoin treasury companies sold some of their holdings. A Bitcoin treasury company holds BTC as a corporate reserve asset. The reported count does not show how much was sold, whether any companies sold all their Bitcoin, or why they sold.
Selling could reflect routine portfolio management, a change in strategy, financial pressure, or other considerations. The figures do not say which. Some firms are changing their positions rather than simply holding, but treating those sales, or the overall holdings figure, as proof of a new wave of adoption would be a stretch.
For a company, Bitcoin can be both a reserve asset and a source of substantial price risk. Buying, holding, or selling can reflect different treasury needs and risk tolerances. A count of firms taking one of those actions says little about the size or motivation behind each position.
Key questions and answers
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How much Bitcoin do publicly listed companies reportedly hold?
CryptoQuant’s figures put the total at 1.3 million BTC, reportedly up 31% over 14 months. The baseline and exact dates are not provided.
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How much of the reported increase came from Strategy?
Strategy is credited with 216, 060 BTC, or about 71% of the stated 304, 337 BTC increase. The separate figures for other companies do not match that total.
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Are companies still buying Bitcoin?
The figures say 50 of 205 firms with a history of holding BTC bought some in the past six months. They do not give the amount purchased or the exact period.
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Do sales by treasury companies mean they have abandoned Bitcoin?
No such conclusion follows from the reported count. The figures say 44 of 100 newer treasury companies sold some BTC, but do not say how much or why.
The main unanswered questions are straightforward but consequential: which companies and dates each figure covers, how the 31% increase was calculated, and why the reported components exceed the overall total. Until those details are available, the numbers point to concentrated corporate accumulation but do not provide a clear, independently checkable account of its scale.
