10 Public Companies With Largest Bitcoin Holdings In 2023

As Bitcoin BTC/USD becomes an increasingly popular investment option, many public companies are following suit and investing in the apex cryptocurrency. In 2023, this trend continues to grow, with more and more companies holding Bitcoin on their balance sheets.

Using data from CoinGecko, we have compiled a list of the top 10 public companies with the largest Bitcoin holdings. From well-known household names to lesser-known players, let's take a closer look at who's leading the way into the crypto space.

1. MicroStrategy Inc MSTR

MicroStrategy is currently at the top of the list with a whopping 129,699 BTC in their portfolio. The company's CEO, Michael Saylor, has been a vocal advocate of Bitcoin, even going as far as to convert the majority of MicroStrategy's treasury into cryptocurrency. While the entry value of the company's investment was $3.975 billion, the current value of their holdings is $2.905 billion, representing a significant loss in value. However, Saylor remains bullish on Bitcoin's long-term prospects and is confident that the investment will pay off in the future.

2. Marathon Digital Holdings MARA

Marathon is a crypto mining company, that currently holds 10,054 BTC, with an entry value of $150 million and a current value of $225 million. 

3. Coinbase Global Inc COIN

As one of the largest crypto exchanges in the world, Coinbase is no stranger to the world of Bitcoin. The company currently holds 9,000 BTC, with an entry value of $173.7 million and a current value of $201.6 million.

4. Square Inc SQ

The financial services and mobile payment company currently holds 8,027 BTC, with an entry value of $220 million and a current value of $179.8 million. Like Coinbase, Square's investment in Bitcoin is relatively small compared to other companies on this list, but it is clear that the company sees potential in the crypto market.

5. Hut 8 Mining Corp HUT

Hut 8 is another crypto mining company that has diversified its portfolio by investing in Bitcoin. The company currently holds 7,078 BTC, with a current value of $158.5 million. 

6. Hive Blockchain HIVE

Hive Blockchain is a cryptoc mining company that operates in Canada and Sweden. The company currently holds 3,091 BTC, with a current value of $69.2 million. 

7. NEXON Co Ltd NEXOF

NEXON is a Japanese video game company that has been in operation since 1994. The company holds 1,717 BTC worth $38,458,825 at current market prices. NEXON's investment in Bitcoin is part of its diversification strategy, which also includes investments in other non-gaming industries. The company has a strong financial position, with a market capitalization of over $20 billion.

8. Voyager Digital LTD VYGVQ

Voyager is a Canadian crypto broker that filed for Chapter 11 bankruptcy. As of March 2023, the company holds 1,239 BTC worth $27,752,175 at current market prices. Binance BNB/USD CEO Changpeng Zhao has reiterated the company's support for the Voyager deal to be acquired by Binance US, despite objections raised by the U.S. Securities and Exchange Commission (SEC).

9. Aker ASA AKAAF

Aker ASA is a Norwegian industrial investment company that has been in operation since 1841. The company holds 1,170 BTC worth $26,206,654 at current market prices through its subsidiary. The company's Chairman, Kjell Inge Røkke, has been a vocal supporter of Bitcoin, and has stated that he believes it can help accelerate the transition to a more sustainable future.

10. Meitu (HKG:1357)

Meitu is a Chinese technology company that develops image and video processing software for mobile devices. As of March 2023, the company holds 940 BTC worth $21,074,406 at current market prices. 

Public companies are increasingly recognizing the value of investing in Bitcoin, and savvy investors can get in on the action without leaving the stock market. Indirect exposure to crypto can be gained by investing in any of the companies mentioned above.

These top 10 players have demonstrated a willingness to take risks and explore investment opportunities in the fast-evolving world of cryptocurrency. As Bitcoin solidifies its position as a mature asset, it remains to be seen how these companies will adapt and evolve their investment strategies.

Now Read: Bitcoin Bull Mark Yusko Asks Why Dogecoin Exists: 'My Mind Hurts'

Disclosure: Benzinga CEO Jason Raznick is a member of the unsecured creditor committee in the Voyager Digital bankruptcy case.