Beyond ETFs, public companies are accumulating Bitcoin directly. As of March 2026, corporate balance sheets hold over 1.13 million BTC, with extreme concentration among a few players.

Strategy Inc leads by a wide margin, holding approximately 762,000 BTC. Other participants include firms like MARA Holdings and Japan’s Metaplanet, signaling growing global adoption of Bitcoin as a treasury reserve asset.

Recent activity also reflects shifting strategies. Some companies reduced holdings to manage debt or liquidity, while others pledged BTC as collateral in financial arrangements. This demonstrates that corporate Bitcoin is not just a passive reserve but an actively managed financial asset.