Companies listed on US stock exchanges continue to aggressively expand their Bitcoin holdings, now controlling the vast majority of Bitcoin reserves held by publicly traded firms worldwide.

According to the latest data from on-chain analytics platform Unfolded, US-listed companies collectively hold approximately 1.24 million BTC, accounting for 92.7% of all Bitcoin reserves held by publicly traded companies globally. To put that figure in perspective, it represents roughly 6% of Bitcoin's total 21 million coin supply cap and a considerably larger share of the liquid supply, given that an estimated 3–4 million BTC are considered permanently lost or dormant. This positions US firms as the dominant force in institutional Bitcoin ownership by a wide margin.

Over the past 12 months, companies traded on US exchanges added 510,000 BTC to their portfolios — a purchasing rate that dwarfs new Bitcoin issuance. Unfolded's data indicates that the amount acquired by US public companies during this period was more than three times the volume of newly mined BTC entering circulation. Bitcoin's total supply is capped at 21 million coins, and new coins are introduced through mining block rewards. The acceleration of US corporate accumulation has coincided with a broader institutional uptake following the SEC's approval of spot Bitcoin ETFs in January 2024, which provided regulated vehicles for both retail and institutional investors to gain Bitcoin exposure — though the Unfolded figures specifically track direct holdings on corporate balance sheets rather than ETF-linked assets.

This trend has been accelerated by corporate treasury allocations, most notably by Strategy (formerly MicroStrategy), which pioneered large-scale Bitcoin purchases beginning in August 2020. Strategy alone holds over 220,000 BTC, making it the largest single corporate holder by a significant margin. Since then, numerous publicly traded companies across the energy, technology, and financial sectors have followed suit, adding Bitcoin to their balance sheets as a long-term reserve asset. The concentration of these holdings among US-listed entities also reflects the comparatively deep capital markets and broader range of public-company financing mechanisms available in the US, enabling firms to raise debt and equity specifically for Bitcoin acquisition in ways that are less established in other jurisdictions.

Analysts observe that sustained institutional buying could reduce Bitcoin's available circulating supply and influence price dynamics over the long term. They highlight that if institutional demand continues at its current pace — particularly following the April 2024 Bitcoin halving, which reduced the block reward from 6.25 BTC to 3.125 BTC — the supply-demand balance may tighten further, as the rate of new Bitcoin creation has diminished while corporate accumulation has intensified. Market participants are closely watching upcoming corporate earnings seasons and SEC regulatory developments for signals of whether the pace of balance-sheet adoption will continue or whether accounting and regulatory headwinds could temper corporate appetite for Bitcoin treasuries.