Public Companies Stockpiling Bitcoin to Double Holdings: 49 Firms Absorb Nearly 5% of BTC—Strategy Alone Holds 847k BTC

Fidelity Digital Assets' latest report reveals that the number of publicly traded companies holding over 1,000 Bitcoin doubled to 49 in 2025, collectively controlling nearly 5% of Bitcoin's total supply; entering 2026, the pace of expansion has accelerated further, with corporate buying momentum surpassing ETF inflows.
(Previous context: Strategy buys another 520 Bitcoin! Total holdings surpass 847k, with dollar reserves reaching $1.4 billion)
(Background supplement: Skybridge Capital founder: The corporate debt-fueled BTC buying spree will eventually fade, excessive speculation risks backfiring on Bitcoin)

According to Fidelity Digital Assets' "2026 Look Ahead" report, the number of publicly traded companies holding at least 1,000 BTC doubled from 22 at the end of 2024 to 49 by the end of 2025, collectively controlling nearly 5% of Bitcoin's total supply, meaning over one million of the 21 million cap are locked in the treasuries of publicly listed companies.

This number continued to grow in 2026. According to tracking institutions, as of early June 2026, approximately 170 to 199 listed companies collectively held about 847k BTC, raising their share of total supply to around 6%, with a market value of approximately $76 billion at the time.

Top Rankings: Strategy Leads by a Wide Margin, Asian Newcomers Chase Quickly

In terms of holdings, the rankings are highly concentrated. Strategy firmly holds the top spot with about 847k BTC, a gap almost impossible for the second place to close. Following in order: Twenty One Capital with about 43,500 BTC, Japan-listed Metaplanet with about 40,000 BTC, and mining company MARA Holdings with about 36,000 BTC.

In a single month of May 2026, publicly traded companies net added 43,557 BTC. Strategy again led the monthly buying spree, with non-crypto-native companies like SpaceX also making their first appearance on the list of buyers.

Fidelity's Tripartite Classification: Who Is Driving This Hoarding Wave?

The Fidelity report breaks down corporate Bitcoin holders into three categories, helping to understand the capital structure:

• Native: Bitcoin miners and crypto-native companies, where BTC is a byproduct of operations, not an active treasury allocation.
• Strategic: Those deliberately building a Bitcoin treasury as a core business model, with Strategy being the most typical example. Although few in number, this category controls the vast majority of corporate Bitcoin reserves.
• Traditional: Non-crypto industry companies allocating a portion of their cash treasury to BTC as a hedge or diversification.

Among the three, the concentration effect of "strategic" companies is most pronounced; decisions by a few institutions can sway the structure of global corporate Bitcoin holdings.

Is Concentration a Boon or a Risk?

However, the high concentration of holdings among a few "strategic" companies cuts both ways. If leading companies like Strategy are forced to reduce their positions due to regulatory pressure, shareholder demands, or liquidity needs, the supply shock would far exceed typical retail selling.

Data from the Fidelity report shows that corporate Bitcoin hoarding has evolved from a fringe strategy to a mainstream treasury option, and the accelerating trend in 2026 is pushing this experiment toward a larger market share and greater systemic importance.