Who holds bitcoin
Public companies, ETFs and funds, governments, private companies and exchanges.
Bitcoin treasury companies: Strategy, Metaplanet and the rest
Strategy MSTR
848,000 BTC
avg cost $75,441 · +10.6% · mNAV 1.13×
Details: purchases, KPIs, debt →
Metaplanet Inc. MPJPY
44,000 BTC
avg cost $102,115 · −18.3% · mNAV 0.83×
Details: purchases, KPIs, debt →
| # | Company | BTC | % of 21M | Value | 7d | Avg cost | mNAV (EV) |
|---|---|---|---|---|---|---|---|
| 1 | Strategy MSTR · US | 848,000 | 4.04% | $70.8B | — | $75,441 | 1.13× |
| 2 | Metaplanet Inc. MPJPY · JP | 44,000 | 0.21% | $3.7B | — | $102,115 | 0.83× |
| 3 | Twenty One Capital XXI · US | 43,514 | 0.21% | $3.6B | — | — | — |
| 4 | MARA Holdings, Inc. MARA · US | 35,577 | 0.17% | $3.0B | — | — | — |
| 5 | Bitcoin Standard Treasury Company BSTR · US | 30,021 | 0.14% | $2.5B | — | — | — |
| 6 | Strive ASST · US | 29,462 | 0.14% | $2.5B | — | — | — |
| 7 | Bullish BLSH · US | 22,000 | 0.10% | $1.8B | — | — | — |
| 8 | SpaceX SPCX · US | 18,712 | 0.09% | $1.6B | — | — | — |
| 9 | Coinbase Global, Inc. COIN · US | 17,311 | 0.08% | $1.4B | — | — | — |
| 10 | CleanSpark, Inc. CLSK · US | 13,703 | 0.07% | $1.1B | — | — | — |
List and holdings: bitcointreasuries.net, as of 12 Oct 2026 07:40 BST (London time); Strategy and Metaplanet use the companies' own data, refreshed 12 Oct 2026 10:25 BST. Average cost and mNAV are computed for these two companies only for now. mNAV = (market cap + debt + preferreds − cash) ÷ value of the bitcoin. Not investment advice.
| # | Name | Type | Country | BTC | 7d | % of 21M |
|---|---|---|---|---|---|---|
| 1 | Strategy →MSTR | Public companies | US | 848,000 | — | 4.038% |
| 2 | iShares Bitcoin TrustIBIT | ETFs & funds | US | 806,037 | +5,502 | 3.838% |
| 3 | United States | Governments | US | 328,372 | — | 1.564% |
| 4 | China | Governments | CN | 190,000 | — | 0.905% |
| 5 | Fidelity Wise Origin Bitcoin FundFBTC | ETFs & funds | US | 184,058 | — | 0.876% |
| 6 | Block.one | Private companies | US | 164,000 | — | 0.781% |
| 7 | Grayscale Bitcoin TrustGBTC | ETFs & funds | US | 131,528 | — | 0.626% |
| 8 | Wrapped BTC | DeFi / wrapped BTC | — | 116,150 | — | 0.553% |
| 9 | Tether Holdings Limited | Private companies | VG | 100,000 | — | 0.476% |
| 10 | cbBTC | DeFi / wrapped BTC | — | 97,703 | — | 0.465% |
| 11 | BTCB | DeFi / wrapped BTC | — | 65,301 | — | 0.311% |
| 12 | Grayscale Bitcoin Mini TrustBTC | ETFs & funds | US | 62,874 | — | 0.299% |
| 13 | United Kingdom | Governments | GB | 61,245 | — | 0.292% |
| 14 | Ukraine (holdings of public officials) | Governments | UA | 46,351 | — | 0.221% |
| 15 | Metaplanet Inc. →MPJPY | Public companies | JP | 44,000 | — | 0.210% |
| 16 | Twenty One CapitalXXI | Public companies | US | 43,514 | — | 0.207% |
| 17 | Xapo | Exchanges (company treasury) | GI | 38,931 | — | 0.185% |
| 18 | Bitwise Bitcoin ETFBITB | ETFs & funds | US | 38,189 | — | 0.182% |
| 19 | MARA Holdings, Inc.MARA | Public companies | US | 35,577 | — | 0.169% |
| 20 | ARK 21Shares Bitcoin ETFARKB | ETFs & funds | US | 35,026 | — | 0.167% |
| 21 | Casascius Coins | DeFi / wrapped BTC | — | 34,808 | — | 0.166% |
| 22 | Mt. Gox | Exchanges (company treasury) | JP | 34,504 | — | 0.164% |
| 23 | River (Exchange) | Exchanges (company treasury) | US | 33,737 | — | 0.161% |
| 24 | Bitcoin Standard Treasury CompanyBSTR | Public companies | US | 30,021 | — | 0.143% |
| 25 | StriveASST | Public companies | US | 29,462 | — | 0.140% |
These are estimates of coins held on exchange wallets on behalf of customers (on-chain labelled clusters), not the exchange's own treasury. They are not added to the total above.
Numbers are self-reported filings, public addresses or estimates collected by bitcointreasuries.net. Government holdings are often seized coins and can change suddenly. Some overlap is possible (for example, a fund's custodian is also an exchange). Satoshi's estimated ~1.1M BTC and lost coins are not included.
Source: bitcointreasuries.net · 2026-10-12 06:40 UTC