Public Companies Accumulate 1 Million Bitcoin Making up 4.7% Supply

TLDR

• Public firms now control 1M+ BTC, representing 4.7% of total Bitcoin supply.
• Strategy leads with 632K BTC, over half of all corporate bitcoin holdings.
• GameStop, Metaplanet, and others joined in 2025, pushing totals to record highs.
• Some stocks spiked on BTC buys but quickly fell back, showing mixed market impact.

Public companies now hold more than 1 million bitcoin, a new record that signals steady corporate demand for the asset. The combined stash equals roughly 4.7% of Bitcoin’s capped 21 million supply, according to multiple data trackers.
Strategy (formerly MicroStrategy) remains the single largest listed holder, with more than 630,000 BTC on its balance sheet as of early September 2025. Its aggressive accumulation continues to anchor the corporate cohort.

Where The 1 Million Bitcoin Sits

The top of the leaderboard features Strategy, bitcoin miners, and a growing set of Asia-listed firms. Strategy’s reported balance sits above 632,000 BTC, dwarfing other corporate treasuries and accounting for a major share of the public-company total.

Miners such as MARA and Riot add to the aggregate through both production and treasury strategies. Meanwhile, Japan’s Metaplanet has climbed into the upper ranks amid repeated purchases this year, reflecting broadening geographic participation.

Accelerating Participation in 2025

Furthermore, several firms disclosed first-time buys this year, helping push the combined total past the seven-figure mark. Coverage from mainstream finance outlets noted the milestone and tied it to a maturing corporate view of Bitcoin as a reserve asset.
GameStop’s May filing—confirming a 4,710 BTC purchase—illustrates how non-crypto brands joined the wave. The stock’s reaction proved mixed, but the buy increased the public-company count and diversified the holder base.

Supply Share Becomes Material

In addition, crossing 1 million BTC means listed firms now control about 4.7% of the eventual 21 million coins. That share matters for float and liquidity, especially during periods of constrained new supply. Multiple trackers converged on the same range this week.

The concentration at the top also stands out. Strategy alone represents well over half of public-company holdings, amplifying how a single balance-sheet strategy can influence the segment’s totals and narrative.

Mixed Market Reactions

At the same time, not every corporate buyer sees lasting stock gains. Some 2025 entrants saw brief “announcement pops” that faded as investors refocused on core business performance. Market responses to treasury shifts remain uneven, even when the bitcoin balance grows. Recent examples underline the point.

GameStop’s run-up around its purchase was short-lived, and other newcomers have traded below initial peaks despite BTC accumulation. The pattern suggests equity markets treat treasury moves as one factor among many, not a guaranteed catalyst.

Future Adoption Pipeline

Even so, the pipeline for future corporate adoption remains active. Metaplanet’s shareholder approvals and capital-raising plans show continued appetite for scaling bitcoin reserves among Asia-listed firms. The company’s public guidance and recent coverage indicate ambitions to buy more.

Broader media tallies also track new disclosures from smaller U.S. issuers and sector diversifiers. As additional filings arrive, the cumulative figure can change quickly, but the directional trend through early September 2025 points higher.

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