In recent years, a growing number of companies have begun exploring Bitcoin as a component of their treasury management strategies, seeking to diversify assets, hedge against inflation, and capitalize on potential returns. The concept of digital assets for treasury management has been notably influenced by companies like MicroStrategy, which pioneered the approach of holding substantial Bitcoin reserves.
Companies Exploring Bitcoin / Digital Assets for Treasury Management:
Several organizations have publicly announced their exploration or adoption of Bitcoin within their treasury operations:
- MicroStrategy: In August 2020, MicroStrategy invested $250 million in Bitcoin as a treasury reserve asset. As of early 2025, the company holds more than 478,000 Bitcoin.
- Marathon Digital Holdings (MARA): MARA has become one of the world’s largest Bitcoin miners and the second-largest corporate holder of Bitcoin, owning more than 45,000 Bitcoin as of early 2025.
- Tesla: The electric vehicle manufacturer made headlines with its significant Bitcoin purchase, holding approximately 11,509 Bitcoin.
Top 10 Organizations Holding Bitcoin on Their Balance Sheets
As of early 2025, the following public companies are notable for their substantial Bitcoin holdings:
| Company | Bitcoin Holdings | Approximate Value (USD) |
| MicroStrategy Inc. | 478,740 BTC | $42.7 billion |
| MARA Holdings, Inc. | 45,659 BTC | $4.6 billion |
| Riot Platforms, Inc. | 18,221 BTC | $1.8 billion |
| Tesla, Inc. | 11,509 BTC | $1.2 billion |
| CleanSpark, Inc. | 10,556 BTC | $1.1 billion |
| Hut 8 Mining Corp | 10,208 BTC | $1.1 billion |
| Coinbase Global, Inc. | 9,480 BTC | $950 million |
| Block, Inc. | 8,363 BTC | $837 million |
| Bitcoin Group SE | 3,605 BTC | $361 million |
| Semler Scientific | 3,192 BTC | $320 million |
Values are approximate and based on available data as of early 2025.
From an operational perspective, companies holding digital assets or considering holding digital assets as a form of treasury management should consider and prepare to do the following:
- Onboard and hold assets in a reliable manner
- Educate and inform internal and external stakeholders on relevant operational changes
- Understand the current accounting and reporting standards in your local jurisdiction
- Account for and report on the digital assets held and the respective fair values
- Prepare for an audit and establish internal controls
The increasing corporate adoption of Bitcoin reflects a broader shift and openness in treasury management practices, with companies globally seeking alternative assets to navigate economic uncertainties and leverage potential growth opportunities. While this strategy offers potential benefits, it also entails risks such as market volatility and regulatory considerations. Organizations contemplating digital asset investments should conduct thorough due diligence and consider their risk tolerance and long-term objectives.
Taxbit helps companies automate the accounting and financial reporting for digital assets, which is intended to make the exploration of digital assets for treasury management more approachable as well as streamline operational processes. If you are considering digital assets for treasury management, reach out to discover how Taxbit can support your team in the form of reporting automation and audit readiness.
