Top 5 US Companies With the Largest Crypto Holdings
Institutional Interest in Crypto Is Booming
Since the explosive bull run of 2020, institutional interest in cryptocurrency has surged. What was once seen as a fringe investment is now making its way into the balance sheets of some of the biggest corporations in the United States.
Why this matters: Crypto is no longer just a retail playground—major U.S. companies are now key players.
This blog explores the growing trend of American companies holding crypto on their balance sheets—who’s holding, how much, why, and what this means for the future of crypto.
The Rise of Corporate Crypto Adoption
Timeline: From Skepticism to Adoption
- 2009–2015: Early Skepticism
Bitcoin was launched in 2009 and largely dismissed as a risky, fringe innovation. While Overstock made headlines in 2014 by accepting BTC, most companies stayed away due to regulatory uncertainty and negative associations. - 2016–2019: Quiet Exploration
During this period, companies like IBM and Microsoft explored blockchain technology, but avoided direct exposure to crypto. Interest grew after the 2017 bull run, yet Bitcoin’s volatility kept it off most corporate balance sheets.
- 2020: Institutional Turning Point
MicroStrategy made waves by investing $250M in Bitcoin, becoming the first public company to adopt it as a treasury asset. Tesla and Block Inc. soon followed, viewing Bitcoin as a hedge against inflation and weakening fiat. - 2021–2022: Mainstream Movement
Crypto broke into traditional finance as Coinbase went public in 2021, validating the industry’s growth. Meanwhile, banks like JPMorgan and Goldman Sachs began offering crypto services to institutional clients. - 2023–2025: Normalization & Expansion
Crypto adoption has widened, with smaller firms like Semler Scientific and Exodus Movement adding Bitcoin to their reserves. Growing regulatory clarity and market maturity have made crypto a viable option for corporate treasuries.
Top U.S. Companies Holding Crypto
| Company | Country | Total Bitcoin | Today’s Value (USD) | % of Total BTC Supply |
| MicroStrategy Inc. | US | 5,28,185 | $45,218,599,208 | 2.52% |
| Marathon Digital Holdings | US | 47,531 | $4,077,177,809 | 0.22% |
| Riot Platforms, Inc. | US | 19,223 | $1,648,936,252 | 0.09% |
| Tesla, Inc. | US | 11,509 | $975,143,273 | 0.06% |
| Block Inc. | US | 8,485 | $718,923,510 | 0.04% |
Strategy
A business intelligence and analytics company known for providing software solutions to analyze internal and external data. It’s also well known for holding a large amount of Bitcoin as part of its corporate strategy. Since 2020, Strategy has adopted Bitcoin as its primary treasury reserve asset, positioning itself as the world’s first and largest Bitcoin treasury company. As of early 2025, it holds approximately 528,185 BTC, valued at around $45.218 billion. The company funds these acquisitions through equity and debt offerings, as well as operational cash flows.
MARA Holdings, Inc
MARA Holdings, Inc. (formerly Marathon Digital Holdings) is a leading U.S.-based digital asset technology company specializing in Bitcoin mining and blockchain infrastructure. Headquartered in Fort Lauderdale, Florida, MARA is among the largest Bitcoin miners globally and holds over 46,000 BTC as of early 2025, making it the second-largest corporate holder after MicroStrategy.
Riot Platforms, Inc. is a U.S.-based Bitcoin mining and digital infrastructure company headquartered in Castle Rock, Colorado. The company operates two primary segments: Bitcoin Mining and Engineering. Its mining operations are primarily located in Texas and Kentucky, with significant facilities in Rockdale and Navarro counties, Texas, and Paducah, Kentucky.
Tesla, Inc.
An electric vehicle and clean energy company founded by Elon Musk. Tesla manufactures electric cars, batteries, solar panels, and energy storage systems, and is a major player in the global push toward sustainable energy.
Block Inc.
Formerly known as Square, Block is a financial services and digital payments company founded by Jack Dorsey. It owns products like Square (for merchants), Cash App, and has investments in blockchain and Bitcoin.
Why Companies Are Holding Crypto
Companies are increasingly adding crypto to their balance sheets for several strategic reasons. First, it’s a hedge against inflation and the devaluation of fiat currencies, especially in uncertain economic times. Many firms also view Bitcoin and other digital assets as long-term strategic investments, believing in their future growth and relevance. Holding crypto can also help brands connect with younger, crypto-native audiences and position themselves as forward-thinking in a rapidly evolving fintech and digital innovation landscape.
Final Thoughts
Key Players & Reasons
Companies like Strategy, Tesla, Block Inc., and Semler Scientific are leading the way in corporate crypto holdings. Their reasons range from hedging inflation to strategic investment, innovation, and customer alignment.
Early but Growing Trend
Crypto on corporate balance sheets is still a relatively new strategy, but adoption is steadily increasing as confidence, regulation, and market maturity improve.
Belief, Branding & Bottom Line
U.S. companies are embracing crypto not just for financial gains, but also to reflect belief in digital assets, enhance brand image, and future-proof their business models.
The rise of corporate crypto adoption marks a pivotal shift in how digital assets are perceived and utilized. What began as a niche movement is now gaining traction among some of the most influential U.S. companies. As more firms recognize the strategic value of holding crypto—whether for financial resilience, innovation, or market positioning—it’s clear that digital assets are becoming a legitimate part of modern corporate finance. The trend is still unfolding, but one thing is certain: crypto is no longer just on the sidelines—it’s moving into the boardroom.
FAQs
Q1: Is crypto adoption limited to tech companies?
A: No, while tech and crypto-native companies led early adoption, firms from various sectors—including electric vehicles (Tesla), digital payments (Block Inc.), and healthcare (Semler Scientific)—are now joining in.
Q2: How do companies typically acquire Bitcoin?
A: Companies fund Bitcoin purchases through a mix of equity offerings, debt issuance, and operational cash flow. MicroStrategy, for instance, has used all three methods to grow its Bitcoin holdings.
Q3: What are the risks of holding crypto on a company balance sheet?
A: Key risks include volatility, regulatory uncertainty, custody/security concerns, and accounting complexities. However, improved infrastructure and clearer guidelines are helping to mitigate these issues.
Q4: What does corporate crypto adoption mean for the broader market?
A: It signals increasing legitimacy for digital assets and accelerates mainstream adoption. Corporate involvement often brings additional scrutiny, institutional-grade infrastructure, and regulatory progress—benefiting the entire ecosystem.
