According to the latest data from bitcointreasuries.org, as of October 21, 2020, a total of 23 companies have disclosed holding bitcoin as a reserve asset, with combined holdings of 785,999 BTC valued at over $10 billion at current exchange rates. This accounts for approximately 3.74% of bitcoin's capped 21 million supply, highlighting growing institutional adoption.
Three Categories Dominate Holdings
The tracker divides firms into three segments: public companies, private firms, and ETF-like organizations. Among 15 public companies listed—including Microstrategy, Square, Galaxy Digital Holdings, Hive Blockchain, and Argo Blockchain—the aggregate reserve stands at 67,536 BTC worth roughly $863 million. Microstrategy alone holds 38,250 BTC through two purchases, while Square acquired 4,709 BTC in early October.
Private firms feature Block.one (140,000 BTC), Tezos Foundation (24,808 BTC), and Stone Ridge Holdings Group (10,889 BTC), totaling 175,697 BTC ($2.2 billion). The ETF-like category, led by Grayscale Bitcoin Trust with 456,537 BTC, along with Coinshares XBT, 3iQ The Bitcoin Fund, and others, accounts for 542,766 BTC valued at $6.9 billion.
Accelerating Institutional Adoption
Microstrategy's $250 million bitcoin purchase in August 2020 sparked a wave of corporate treasury allocation. Square's $50 million purchase in early October then prompted the creation of bitcointreasuries.org. Within just 11 days, the number of listed firms grew from 13 (598,237 BTC or 2.85% of supply) to 23 (785,999 BTC or 3.74%), reflecting rapidly increasing corporate appetite for bitcoin.
Notably, some companies like Tahinis restaurant chain and Snappa claimed bitcoin holdings but were excluded due to lack of verifiable exact counts. Canadian firm Mode announced a bitcoin reserve on October 21, but its holdings amount to only about 6.7 BTC.
With more public companies following Microstrategy and Square's lead, corporate bitcoin treasuries are likely to capture an even larger share of the supply, potentially tightening market liquidity and supporting long-term price appreciation.