- MicroStrategy holds 597K BTC worth $64.4 billion, with unrealized profits of $2.2 billion, but warns of significant risks.
- Bitcoin public companies have skyrocketed from 64 in 2024 to 151 in 2025 amid favorable regulations.
- Top holders like Tesla, Galaxy and Mara diversify your BTC strategy from mining to direct purchases.
MicroStrategy has revealed the major risks associated with its vast Bitcoin portfolio, currently exceeding $64.4 billion. According to a Form 8-K filing filed with the US Securities and Exchange Commission (SEC) in July 2025, the company reported that it had 597,000 BTC as of June 30, 2025.
These assets were acquired for $42.4 billion over five years starting in 2020. While the unrealized profits appear to be substantial, the company cited major concerns surrounding liquidity, market volatility, and regulatory uncertainty that could impact future performance.
MicroStrategy's Bitcoin strategy began in mid-2020 and remains aggressive throughout the period of high volatility. The company's total investment rose with massive spikes in 2023 and 2024. There was a key point in mid-2024 when MicroStrategy invested an additional $4.2 billion in Bitcoin. Following that announcement, both Bitcoin prices and portfolio value rose sharply, indicating favorable market timing.
Chart data reviewed by Cryptoquant shows the current values of MicroStrategy holdings (green line) following Bitcoin price transfer (Blue Line). This value has consistently risen beyond the cumulative investment (Orange Line) during the bull market. As of mid-2025, the portfolio had experienced strong unrealized returns as Bitcoin returned to near record highs.
Despite these benefits, the company's SEC filing pointed out that price volatility remains a core risk. The submission also flagged concerns about potential difficulties in liquidating the majority of its holdings without disrupting the market situation.
Expanding the Ministry of Finance for Bitcoin, a company
Companies that hold Bitcoin on their balance sheets have increased by more than 200% over the past year. In 2024, 64 companies were exposed to Bitcoin, reaching 151 in June 2025. This recent trend is linked to revisions to US policies that value Bitcoin as a strategic asset, to enhance clarity in international taxes and to an increase in corporate orientation towards digital assets.
Companies use a variety of methods. Companies either purchase directly or rely on mining operations or on average dollar costs. Various strategies demonstrate the growing popularity of Bitcoin as a long-term investment.
Major public Bitcoin holders in 2025
Currently branded as Strategy Inc., MicroStrategy remains the largest corporate Bitcoin holder, with Holdings estimated at 576,230-592,345 BTC. Mara Digital Holdings is second in the ranking, with a maximum of 49,678 BTC worth $4.8 billion. Japan's Metaplanet has 11,111 BTC worth $1.15 billion.
Other major owners include Tesla (11,509 BTC), Galaxy Digital (15,449 BTC), and Hut 8 Mining (10,237 BTC). Coinbase and Block Inc. will also appear in the top Bitcoin custodians of companies.
