Bitcoin treasury companies acquire record 159,107 BTC in Q2

Corporate interest in Bitcoin reached new highs in the second quarter of 2025, with companies adding a record 159,107 BTC to their balance sheets, worth over $17.6 billion at current prices.

The figure marked a 23.13% quarter-on-quarter increase, bringing total corporate Bitcoin holdings to 847,000 BTC, or about 4% of the capped 21 million supply, according to data accumulated by Bitwise Asset Management.

The total value of corporate Bitcoin holdings surged to $91 billion by the end of Q2, calculated based on Bitcoin’s closing price of $107,754, a 60.93% price increase from the previous quarter. Since then, BTC has resumed its rally,  surging to a new all-time high above $112,000  on Wednesday.

The number of public companies holding Bitcoin also jumped sharply, with 46 new firms entering the space, raising the total to 125, a 58.23% increase quarter-on-quarter.

  Bitcoin treasury companies in Q2. Source: Bitwise

Saylor’s Strategy leads the charge

Leading the charge is Strategy, with a massive BTC stash of 597,325 coins. The firm, led by Bitcoin bull Michael Saylor, has championed the Bitcoin accumulation strategy by consistently issuing  convertible notes  and at-the-market (ATM) equity offerings to fund aggressive Bitcoin purchases.

Strategy’s Bitcoin accumulation has also fueled a strong performance in its stock price. The company’s stock is up 43% year-to-date, far outperforming the S&P 500’s modest 6.4% gain over the same period. It has increased by more than 6% over the past month and by around 9% over the past week, according to  data  from Google Finance.

Strategy shares are up 43% YTD. Source: Google Finance

Bitcoin miner MARA Holdings is the second-largest corporate holder of Bitcoin, with 49,940 BTC. The company’s shares have gained more than 10% YTD.

New entrants are also making waves in the Bitcoin treasury space. Twenty One  launched with a $685 million  capital raise and quickly deployed over $450 million into Bitcoin. In Japan, Metaplanet  has emerged as a powerhouse , dominating Tokyo’s trading volume and even surpassing household names like Toyota and Sony, while amassing 13,350 BTC.

Meanwhile, GameStop grabbed headlines with its first-ever Bitcoin purchase, adding  4,710 BTC to its balance sheet  and further cementing the trend of non-crypto-native companies entering the space. Trump Media also entered the fray,  filing to raise $2.5 billion  for further Bitcoin accumulation.

London BTC Company raises $2 million for more purchases

On Wednesday, London BTC Company, previously Vinanz,  secured  1.5 million pounds ($2 million) in new funding through the issuance of 11.5 million ordinary shares. The company, with active mining operations in the US and Canada, says the capital will support further BTC accumulation.

Despite its aggressive Bitcoin accumulation, the company’s stock, which trades on the London Stock Exchange, has struggled. It is down over 42% YTD and fell more than 7% in the past 24 hours.