The companies that hold bitcoin on their balance sheets: the largest holders in October 2026
Public companies held about 1.30 million bitcoin on 27 October 2026 and private companies about 285,000. Strategy leads with 848,517. The ranking, the outliers and what it means.
On 27 October 2026 the 201 public companies tracked by BitcoinTreasuries.NET held 1,295,928 bitcoin, worth about 104.8 billion dollars at a price of 80,865 dollars, or about 6.2% of the 21 million bitcoin that will ever exist. The 70 private companies on the same site held 284,652 bitcoin, about 23.0 billion dollars. For comparison, the site counts 645,609 bitcoin held by governments and 1,615,524 by ETFs and exchanges. CoinGecko, which keeps a separate list, put public company holdings at about 1.31 million bitcoin on the same day.
Strategy, far ahead. Strategy, the US company formerly called MicroStrategy, held 848,517 bitcoin on 27 October 2026, according to both BitcoinTreasuries.NET and CoinGecko. That is about 65% of all the bitcoin held by public companies and about 4.0% of the 21 million cap. The company raises money through shares, convertible bonds and preferred shares and uses it to buy bitcoin. BitcoinTreasuries.NET put its mNAV, the ratio between the company's value and the value of its bitcoin, at 1.08.
The rest of the top five. Behind Strategy came Japan's Metaplanet with 44,000 bitcoin, Twenty One Capital with 43,514, Strive with 43,000 and the miner MARA Holdings with 35,577, followed by Bitcoin Standard Treasury Company with 30,021, according to BitcoinTreasuries.NET. Several of these companies trade below the value of their bitcoin: the site put the mNAV of Metaplanet at 0.72 and that of Twenty One Capital at 0.69, a change from the premiums seen in 2025.
Further down the list. Bullish held 22,000 bitcoin, SpaceX, listed by the tracker among public companies with the ticker SPCX, 18,712, Coinbase 17,311, CleanSpark 13,530, Tesla 11,509, Riot Platforms 11,380, Hut 8 10,278 and Block 9,117. Counts can differ between trackers depending on what each includes. CoinGecko, for example, lists Bullish with 23,800 bitcoin and Galaxy Digital with 21,084, while BitcoinTreasuries.NET shows Galaxy with 6,894.
Holdings keep moving. The news feed of BitcoinTreasuries.NET reported on 20 October 2026 that Strive had closed a share offering that raised enough cash to buy 7,328 bitcoin, and on 21 October that Tesla and SpaceX had not sold any bitcoin in the third quarter. Bitcoin is not the only asset on corporate balance sheets: the same site tracks 31 entities holding about 7.92 million ETH. Each new purchase is usually disclosed in a filing or a press release, which is why rankings can change from one week to the next.
Private companies. The private list is short at the top. Block.one held 164,000 bitcoin and Tether Holdings 100,000, according to BitcoinTreasuries.NET, together about 93% of all bitcoin held by private companies. Stone Ridge Holdings Group followed with 10,000, the Tezos Foundation with 2,903 and Strike's parent company, Zap Solutions, with 1,500. Private holdings rely on voluntary disclosures and estimates, so they are harder to verify than the figures in public company reports.
Why companies hold it. The reasons vary. Miners such as MARA, CleanSpark and Riot keep part of what they produce. Exchanges and brokers such as Coinbase and Bullish hold bitcoin as part of their business. A newer group of treasury companies, led by Strategy and Metaplanet, has made buying bitcoin its main activity and finances it on the stock and bond markets. Others, such as Tesla and Block, hold it as one asset among many.
What it means. Public company holdings of about 1.30 million bitcoin are worth almost eight years of new issuance at the pace set by the April 2024 halving, about 164,000 bitcoin a year. That makes company buying one of the forces behind demand, along with ETFs, which held about 1.21 million bitcoin at the end of June 2026 according to 13F data reported by Crypto Briefing. For investors, owning shares in these companies is not the same as owning bitcoin: the share price also reflects debt, new share issues, management decisions and the mNAV, which can rise or fall below 1.
Companies are not the only ones that put bitcoin to work. Unicorn Club, the members-only club of Unicorn Private, accepts BTC, ETH, USDT and USDC (ERC-20) for its club deals in pre-IPO companies. Our guide on how to invest in pre-IPO companies with crypto, linked among the sources, explains how it works.
This article is general information and not a personal recommendation. Investing involves the risk of losing capital.
Sources
- BitcoinTreasuries.NET, public companies ranked by Bitcoin holdings, 27 October 2026
- BitcoinTreasuries.NET, private companies ranked by Bitcoin holdings, 27 October 2026
- CoinGecko, public companies holding Bitcoin, 27 October 2026
- CoinGecko, Bitcoin price and circulating supply, 27 October 2026
- Crypto Briefing, Bitcoin ETF holdings in Q2 2026 13F filings, 19 August 2026
- Unicorn Club, guide: how to invest in pre-IPO companies with crypto