Major institutional investors are now buying Bitcoin for their reserves, breaking the taboo of volatile cryptocurrency. Strategy (formerly MicroStrategy) led the way, followed by Block and Tesla. Public companies holding Bitcoin now account for over 4.7% of the total supply of 21 million BTC.

Strategy, now a Bitcoin treasury company, holds 632,457 BTC, equivalent to over $68 billion and more than 3% of the total number of Bitcoin that will ever be issued. The company aggressively pursued a Bitcoin buying spree, adopting BTC as its primary reserve asset.

CEO Michael Saylor of Strategy admitted to buying $1,000 in Bitcoin every second at one point. The company’s adoption of a “Bitcoin strategy” has outperformed rival enterprise software companies in the business intelligence sector. Saylor has revealed he personally owns over $1.6 billion worth of BTC.

Saylor believes rapid institutional adoption of Bitcoin is just beginning. He envisions Bitcoin competing against gold, art, equities, real estate, and other store-of-value assets in wealth creation and capital markets. Strategy aims to buy up to 7% of the Bitcoin supply and encourages other public companies to do the same.

President Trump’s media and technology firm holds an estimated 15,000 BTC, valued at $2 billion. Since his return, the firm has heavily invested in crypto, including launching a crypto token and wallet for its platform. It also filed to launch multiple crypto ETFs.

Coinbase, a prominent crypto exchange, went public in 2021 and holds 11,776 BTC in its treasury, worth nearly $1.3 billion. The company’s stock surged post the 2024 Presidential election, surpassing previous all-time highs. It continues to innovate with products like cbBTC and restarted Bitcoin lending services.

Read more at Yahoo Finance: The 10 Public Companies With the Biggest Bitcoin Portfolios