Public Companies Surpass 1 Million Bitcoin as Corporate Holdings Continue Growing

Highlights:

• Corporate Bitcoin holdings surpass 1 million BTC, totaling over $111 billion in value.
• Only 5.2% of BTC remains outside major holders, with firms targeting massive future accumulations.
• Ethereum gains attention from corporate treasuries, while BTC market cap remains above $2 trillion.

Public companies have now accumulated over 1 million Bitcoin, highlighting the growing focus on BTC to reinforce financial stability. BitcoinTreasuries.NET reported on Thursday that the total holdings have reached 1,000,698 BTC, with a combined value exceeding $111 billion.

Since August 2020, more public companies have steadily added Bitcoin to their treasuries. Michael Saylor’s company led the way by adopting a corporate Bitcoin strategy, inspiring 184 other public firms to hold BTC. While miners like MARA Holdings were early accumulators, Saylor’s firm remains the largest holder with 636,505 BTC. MARA Holdings follows in second place with 52,477 BTC, having mined 705 BTC in August.

Supply Distribution and Future Targets

Only 5.2% of Bitcoin remains outside major holders. More company purchases could lower the available supply. Metaplanet aims to secure 210,000 BTC by 2027, and Semler Scientific plans 105,000 BTC, over ten and twenty times their present amounts. Despite ongoing purchases by public companies, crypto exchanges and ETF issuers continue to hold the biggest Bitcoin share at 1.62 million BTC. Governments possess 526,363 BTC, private companies 295,015 BTC, and crypto protocols control 242,866 BTC, leaving 16.2 million BTC under individual ownership.

Market Comparison and Institutional Trends

Recently, several companies revealed plans to include Ethereum in their corporate treasury. Unlike Bitcoin, ETH does not have a fixed supply of 21 million, but its multiple uses and Proof-of-Stake system help lower the amount of ETH actively circulating. BTC’s total market capitalization exceeds $2 trillion, compared with Ethereum’s $518 billion. 

Jan van Eck, CEO of VanEck, referred to Ethereum as the “Wall Street token,” highlighting its role in stablecoin transactions and its potential to challenge Bitcoin. Institutional interest in Ethereum is also visible through ETF activity, with ETH-focused ETFs receiving nearly $4 billion in inflows during the last month. Analysts suggest that while BTC remains dominant, Ethereum continues gaining attention as an alternative digital asset for institutional investors.

Bitcoin Profit Levels Show Slight Pullback

Bitcoin currently trades at $112,623, showing a 2% increase in the past 24 hours. Data from Glassnode shows that the mid-August rally brought all Bitcoin supply into profit. Maintaining such levels needs continuous capital inflows to counter ongoing profit-taking, a condition that usually does not last long. Glassnode explained in its latest The Week Onchain Report that this trend is often measured by the 0.95 quantile cost basis, which marks the point where 95% of Bitcoin supply is in profit.

The recent strong run lasted about three and a half months, with most of Bitcoin’s supply, over 95%, in profit. On August 19, Bitcoin fell below that level as the market showed “demand finally showed signs of exhaustion,” the intelligence firm said. Right now, roughly 90% of Bitcoin supply is profitable, sitting between the 0.85 and 0.95 quantile cost basis, or about $104,100 to $114,300.