Top private companies that hold Bitcoin
The growth in value of bitcoin (BTC) appeals to both public and private companies. Although the amount of bitcoin held by public companies is readily available in their financial disclosures, it is not easy to know the exact number of companies that hold bitcoin unless the companies voluntarily choose to disclose their BTC stash. In this post, we look at the top private companies that hold bitcoin, we also look at who, between private and public companies, holds more bitcoin.
Top private companies that hold bitcoin
Block.one
Block.one is the company behind the EOS-powered blockchain. According to Bitcoin Treasuries, Block.one leads the pack of private firms that own BTC with a stash of 140,000 BTC valued at close to $8 billion as of September 2024. The amount held by the company represent roughly 0.7% of the total bitcoin supply.
Private companies that hold bitcoin: Tether Holdings LTD
Tether Holdings LTD runs the Tether (USDT) stablecoin and also conducts cryptocurrency mining operations. The company owns 0.4% of the total bitcoin supply or 75,354 bitcoins. Its BTC equates to slightly above $4 billion at the time of writing. According to a May 2023 statement, Tether disclosed that it �will regularly allocate up to 15% of its net realized operating profits towards purchasing Bitcoin (BTC).�
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Tether�s CTO Paolo Ardoino considers BTC to be an investment asset and �a long-term store of value with substantial growth potential.�
Mt. Gox
The defunct Mt. Gox cryptocurrency exchange is also among the top private companies that hold bitcoin. According to data aggregator Arkham Intelligence, the exchange holds close to 45,000 BTC valued at $2.54 billion as of the time of writing.
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The exchange filed for bankruptcy and entered liquidation proceedings in 2014. In 2024, ten years down the line, the exchange started repaying its customers. According to its former CEO Mark Karpeles, the exchange �had weaknesses in system, and [...] bitcoins vanished.� The BTC currently held by Mt. Gox is part of its former customers' funds that are on their way back to their rightful owners.
Private companies that hold bitcoin: Xapo Bank
Xapo Bank is the third among top private companies that hold bitcoin with 38,931 BTC. The amount held represents close 0.2% of the bitcoin and is worth $2.2 billion.
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According to the company, the initiative to hold bitcoin is part of its mission to grow its members� wealth. The bank focuses on providing members with a �better way to hold, access, and grow their bitcoin.� As it caters to its members� needs, the firm also stashes some bitcoin of its own.
BitMEX
BitMEX is a cryptocurrency exchange and owns bitcoin worth slightly above $2 billion. Its stash of BTC, 36,794 bitcoins, is equivalent to 0.18% of the total BTC supply.
Tezos Foundation
Tezos Foundation is the entity behind the Tezos blockchain. According to Bitcoin Treasuries, Tezos Foundation owns 17,500 BTC valued at just under $1 billion and which represents 0.08% of the total bitcoin supply. Over the years, the foundation has reduced its bitcoin holdings by liquidating a section of the stash to invest in other areas.
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In 2019, for example, it sold 8,000 bitcoins and reinvested the amount into its Tezos blockchain token (XTZ) among other projects. Offloading 8.000 BTC reduced the share of bitcoin in its portfolio from 61% to 47%. The current stash of 17,500 BTC is almost half of what it was in 2019, indicating that it has continually sold its BTC.
Stone Ridge Holdings Group
Bitcoin Treasuries places the amount of bitcoin held by Stone Ridge Holdings Group at 10,000 with a market value of $567 million as of the time of writing. The BTC represents 0.05% of the total bitcoin supply.
Other top private companies that hold bitcoin
The other private companies that hold bitcoin have less than 5,000 bitcoins in their wallets. They include:
- Massachusetts Mutual - 3,500 BTC
- Lisk Foundation - 1,898 BTC
- Seetee AS - 1,170 bitcoins
- Luna Foundation Guard - 313 bitcoins
- Bitcoin Association Switzerland - 142 bitcoins
Conclusion
The above list of private companies that hold bitcoin puts the total amount of BTC held by these companies at 359,638 bitcoins valued at over $20 billion. The amount represents 1.713% of BTC�s total supply. In contrast, public companies hold 337,643 BTC or 1.608% of bitcoin�s total supply worth slightly above $19 billion.
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The amount of bitcoins held by private companies can be higher since some may choose not to reveal their holdings. Bitcoins held by individual private companies is subject to change at any time as companies sell or buy more BTC.