More Bitcoin is locked inside corporate vaults, government wallets, and financial products than most people realise. As of May 26, 2026, 254 entities collectively hold 3,914,822 BTC — that’s 18.6% of the entire 21 million coins that will ever exist. Here’s the complete corporate bitcoin treasury tracker for 2026, with the numbers you won’t find in a single place anywhere else.
The Big Picture: Who’s Holding What
Before diving into individual companies, it helps to see the full category breakdown. Not all Bitcoin “holders” are corporations — some are exchange-traded funds (ETFs, which are investment products that trade on stock exchanges like regular shares), some are governments, and a meaningful chunk lives inside decentralised finance (DeFi) protocols — software that holds Bitcoin automatically as collateral or liquidity.
| Category | BTC Held | % of Total 21M Supply |
| Bitcoin ETFs | 1,499,344 | 7.14% |
| Public Companies | 1,198,352 | 5.71% |
| Governments / Countries | 518,526 | 2.47% |
| Private Companies | 431,365 | 2.05% |
| DeFi Protocols | 267,236 | 1.27% |
| Bitcoin Mining Companies | 106,849 | 0.51% |
| Total Tracked | 3,914,822 | 18.64% |
(Source: Bitcoin Treasuries)
The biggest takeaway from those numbers? ETFs now hold more Bitcoin than all public companies combined — and that gap is growing. This is what happens when the SEC approves Bitcoin index products for mainstream investors: regulated capital flows in fast. BlackRock’s iShares Bitcoin Trust alone holds 804,015 BTC, making it the second-largest single Bitcoin entity in the world, behind only Strategy.
Strategy: The $64 Billion Bet That Won’t Stop
No single entity comes close to Strategy (Nasdaq: MSTR) — the company formerly known as MicroStrategy, which rebranded in 2025 to reflect its identity as a Bitcoin-first treasury company. It holds 843,738 BTC, roughly 4% of all Bitcoin in existence, acquired for a cumulative total of $63.87 billion at a blended average of about $75,700 per coin.
Strategy has completed the repurchase of $1.5 billion of its 2029 Convertible Notes at an ~8% discount to par, generating an incremental 0.7% BTC Yield and lowering aggregate debt to $6.7 billion. $MSTR $STRC https://t.co/cbx4BlpsKV
— Michael Saylor (@saylor) May 26, 2026
The pace of accumulation is accelerating. Between May 11 and 17, Strategy bought 24,869 BTC for $2.01 billion by selling preferred shares and convertible instruments. It simultaneously retired $1.5 billion in older convertible notes at a discount, which the company calculated as a BTC Gain of 4,391 coins, or $333 million in effective Bitcoin saved. Its year-to-date BTC Yield — its internal metric measuring Bitcoin accumulation relative to diluted shares outstanding — stands at 13.3%.
The mechanics matter here. Strategy doesn’t just buy Bitcoin and sit on it. It issues debt, converts that debt into BTC, manages the interest obligations through cash reserves, and simultaneously grows its per-share Bitcoin exposure. The company calls this a “Bitcoin Treasury Company” model, and it’s now being copied across four continents.
Top 10 Public Company Bitcoin Holdings (May 2026)
These are the largest publicly traded companies holding Bitcoin on their balance sheet right now, ranked by the number of coins held:
| Rank | Company | Country | BTC Held | Approx. Value |
| 1 | Strategy (MSTR) | USA | 843,738 | $63.8B |
| 2 | MARA Holdings | USA | 38,689 | $2.9B |
| 3 | Twenty One Capital (XXI) | USA | 37,229 | $2.8B |
| 4 | Metaplanet Inc. | Japan | 35,102 | $2.7B |
| 5 | Galaxy Digital Holdings | USA | 17,102 | $1.3B |
| 6 | Strive, Inc. | USA | 16,500 | $1.25B |
| 7 | Riot Platforms | USA | 15,680 | $1.19B |
| 8 | Hut 8 Corp | Canada | 15,679 | $1.19B |
| 9 | Coinbase Global | USA | 14,458 | $1.09B |
| 10 | CleanSpark | USA | 13,453 | $1.02B |
(Source: Bitcoin Treasuries)
MARA Holdings (formerly Marathon Digital) holds 38,689 BTC but updated its treasury policy in early 2026 to allow potential sales from existing reserves — not just newly mined coins. That’s a meaningful pivot. MARA built its reputation on a strict “never sell” rule. That rule is now gone.
Twenty One Capital (XXI), backed by Tether Investments and led by CEO Jack Mallers, holds 37,229 BTC. Tether recently bought out SoftBank’s stake in the firm and is pushing a merger with Strike (Mallers’ Bitcoin payments app) and Elektron Energy, a Bitcoin mining company. If completed, XXI becomes the first publicly traded, vertically integrated Bitcoin business spanning custody, payments, and mining under one roof.
Metaplanet in Tokyo holds 35,102 BTC and has set a public target of 100,000 BTC by the end of 2026. Japan’s regulatory environment is moving in its favour — digital assets are set to be formally classified as financial products under the Financial Instruments and Exchange Act in 2026, with capital gains tax potentially dropping from 55% to 20%.
The Companies You Didn’t Know Are In the List
This is where the tracker gets genuinely surprising. Several major companies hold significant Bitcoin on their balance sheets, with no public announcement and no press releases from their founders about it.
SpaceX holds 8,285 BTC, worth over $626 million, ranking 49th globally. Elon Musk has never announced this. It surfaced through disclosure documents and is tracked by BitcoinTreasuries.com alongside active corporate buyers.
GameStop (GME) — the company that became famous via Reddit-driven short squeezes in 2021 — holds 4,710 BTC, worth over $356 million. It sits at rank 64 on the global leaderboard. But recently, they disclosed that nearly all of its 4,710 bitcoins were pledged to Coinbase as collateral for a covered-call options strategy.
Block, Inc. (ticker: XYZ), Jack Dorsey’s fintech company behind Cash App and Square, holds 8,584 BTC in its corporate treasury, plus 19,357 BTC on behalf of customers — a combined total of 28,355 BTC worth roughly $2.2 billion. In April 2026, Block published its first-ever proof-of-reserves report, allowing anyone to verify its holdings on-chain using cryptographic signatures. This level of institutional transparency is a direct E-E-A-T signal for the crypto industry itself.
Tesla holds 11,509 BTC, sitting on an unrealised gain relative to its $33,539 average cost per coin — but it hasn’t bought a single additional coin since 2021. Under updated U.S. accounting rules effective in 2025, Tesla must now report its Bitcoin at fair market value on its balance sheet, meaning that paper gain shows up in earnings.
The broader theme here connects to something bigger: crypto-native platforms integrating into mainstream financial infrastructure — a trend that’s making passive Bitcoin exposure part of standard corporate finance, even for companies that rarely talk about it.
Governments Hold More Than You’d Think
Sovereign governments — either through seizure of criminal assets or deliberate purchase — collectively hold 518,526 BTC, more than all private companies combined. Here’s the current breakdown:
| Country | BTC Held | How They Got It |
| 🇺🇸 USA | 198,012 | Criminal seizures (Silk Road, Bitfinex hack proceeds) |
| 🇨🇳 China | 194,000 | Seized assets — status uncertain |
| 🇬🇧 UK | 61,245 | Seized criminal assets |
| 🇺🇦 Ukraine | 46,351 | Crypto donations received during the 2022 conflict |
| 🇧🇹 Bhutan | 11,286 | Actively mined using hydropower |
| 🇸🇻 El Salvador | 7,475 | Government purchase — first country to adopt BTC as legal tender |
(Source: Bitcoin Treasuries)
Most of these holdings came from seizures, not strategy. The US government, for example, doesn’t “hold” Bitcoin in the same way Strategy does — it periodically auctions off seized coins. But in the meantime, those coins sit locked up, off the open market. The practical effect on supply is the same.
The Global Spread: Europe, Asia, and Africa
Institutional Bitcoin adoption is no longer an American story. Companies from over 20 countries now hold BTC on their balance sheets as corporate crypto reserves.
In Europe: Germany’s Bitcoin Group SE holds 12,387 BTC; France’s Capital B (formerly The Blockchain Group) holds 2,201 BTC; Norway’s Seetee holds 1,170 BTC; Sweden’s H100 Group holds 1,004 BTC; the UK’s Smarter Web Company holds 2,440 BTC.
In Asia: Japan has multiple corporate holders — Metaplanet (35,102 BTC), Nexon the gaming company (1,717 BTC), Remixpoint (1,273 BTC), and ANAP Holdings (1,018 BTC). Hong Kong’s Boyaa Interactive holds 3,670 BTC. Thailand’s Brooker Group holds 1,150 BTC. Singapore’s BitFuFu holds 1,794 BTC.
In Africa, South Africa’s Africa Bitcoin Corporation — formerly Altvest Capital Ltd., listed on the Johannesburg Stock Exchange — rebranded in 2025 and became the first publicly listed African company to adopt Bitcoin as its primary treasury reserve. It’s targeting a $210 million capital raise to buy BTC directly, with planned listings in Namibia, Botswana, and Kenya. CEO Warren Wheatley has stated the move gives institutional investors on the continent regulated equity-based access to Bitcoin — a route not available through local crypto exchanges.
What 18.6% Actually Means for Supply
Here’s the number that ties everything together. 3,914,822 BTC — 18.6% of the total 21-million-coin supply — now sits inside tracked entities. That number only goes one direction.
Bitcoin miners generate roughly 450 new coins per day through the mining process. Corporate buyers in Q1 2026 alone purchased at 2.8 times that rate, according to Bitwise data. The math is simple: demand is outrunning new supply creation. Every week that Strategy, MARA, Metaplanet, and the dozens of companies behind them add to their institutional bitcoin holdings, fewer coins remain available on the open market.
Whether that translates into price appreciation depends on demand — but the structural supply squeeze is now a documented, data-backed reality, not a speculative talking point.
FAQs
How much Bitcoin do all companies, ETFs, and governments hold combined in 2026?
As of May 26, 2026, BitcoinTreasuries.com tracks 254 entities holding 3,914,822 BTC — worth approximately $296 billion and equal to 18.6% of Bitcoin’s fixed 21-million-coin supply. This includes public companies (5.71%), ETFs (7.14%), governments (2.47%), private companies (2.05%), DeFi protocols (1.27%), and mining companies (0.51%).
Is Strategy still buying Bitcoin in 2026?
Yes — aggressively. Strategy purchased 24,869 BTC for $2.01 billion in a single week in May 2026, simultaneously retiring $1.5 billion in convertible debt at a discount. Its total holdings stand at 843,738 BTC with a BTC Yield of 13.3% year-to-date. The company finances purchases through preferred share issuances and convertible notes rather than operating cash flow.
Does SpaceX hold Bitcoin?
Yes. SpaceX holds 8,285 BTC — worth over $626 million — ranking 49th globally among all Bitcoin-holding entities tracked by BitcoinTreasuries.com. Elon Musk has never formally announced this holding. It surfaced through financial disclosure documents and is tracked alongside actively public corporate holders.
Which countries hold the most Bitcoin in 2026?
The US holds 198,012 BTC (primarily from criminal seizures including Silk Road and the Bitfinex hack), followed by China at 194,000 BTC (status uncertain), the UK at 61,245 BTC, Ukraine at 46,351 BTC received as wartime donations, Bhutan at 11,286 BTC mined using hydropower, and El Salvador at 7,475 BTC from its government purchase program.
Do Bitcoin ETFs affect the price of Bitcoin?
Directly, yes. Bitcoin ETFs (exchange-traded funds that track BTC price and trade on traditional stock exchanges) now hold 1,499,344 BTC — 7.14% of total supply, more than any other category. When investors buy ETF shares, the fund issuer must purchase real Bitcoin to back them, creating direct market demand. BlackRock’s iShares Bitcoin Trust alone holds 804,015 BTC, making it the second-largest single Bitcoin holder in the world after Strategy.
Data sourced from BitcoinTreasuries.com (bitbo.io/treasuries), updated May 26, 2026. Individual company figures cross-referenced with The Block Bitcoin Treasury Tracker and CoinDesk reporting. Holdings figures may vary between sources due to disclosure timing. This article is for informational purposes only and does not constitute financial or investment advice.