Today, market analyst CryptoQuant listed the top public Bitcoin companies have played a central role in Bitcoin’s narrative, mainly because of their double function as publicly traded companies and as pioneering institutional Bitcoin holders.
Bitcoin is currently in the bear market, indicated by its fall by over 20% from its recent ATH. Despite the downtrend, corporations like Strategy (formerly MicroStrategy, Tesla, MetaPlanet, and others) hold billions of dollars in BTC in their financial treasuries, attracting interest from retail investors, investment funds, and international index providers.
However, with company stocks of these organizations currently down by more than 40%, the ongoing crypto market volatility has triggered two divergent narratives about these institutions’ Bitcoin strategies and their possible impact on BTC.
Corporate Bitcoin Holding in November 2025
On-chain metrics revealed that in the past week, eight of the leading 100 public companies with the biggest BTC holdings have added more tokens to their Bitcoin balance sheets. Data shows that only one firm has decreased its holdings, as per BitcoinTreasuries.NET metrics reported yesterday, November 30, 2025. Currently, Bitcoin holding companies cumulatively hold 1,058,743 BTC tokens, a trend that shows continued appetite for Bitcoin accumulation among prominent institutions.
For several years, the idea that a publicly listed firm could purchase Bitcoin in its balance sheet was considered absurd. The leading virtual currency was viewed as too volatile to be adopted by any forward-looking company. That taboo has been successfully challenged by several major corporations accumulating BTC in recent years. Strategy (formerly MicroStrategy) opened the way for institutional Bitcoin adoption when it purchased $425 million in Bitcoin in September 2020. The company, which has been buying Bitcoin regularly, currently holds 649,870 BTC tokens worth over $48.3 billion.
Other serious corporations emulated the move. Bitcoin mining company, Marathon Holdings Inc., is currently the second-largest Bitcoin holder, with 50,639 BTC (worth $5.5 billion) in its balance sheet. Third on the list is Twenty-One Capital, a Bitcoin treasury firm, which currently holds 43,514 BTC valued at $4.7 billion in its corporate treasury. Among the top 10 Bitcoin-holding companies include MetaPlanet (currently holds 30,823 BTC), Tesla (currently holds 11,509.3 BTC), and others, as illustrated by CryptoQuant.
Companies Adjust Holding and Effect on BTC Price
According to the fresh data above, the total amount of Bitcoin held by publicly-listed firms continues to increase. As of today, November 30, 2025, public companies collectively hold 1,058,743 BTC, an increase from 1,000,019 BTC noted on September 4, 2025. This means that as Bitcoin continues to perform better than fiat currencies worldwide, market analysts expect more corporations to enter the market, purchase and hold Bitcoin, and, as a result, drive the BTC price up. Bitcoin, which currently trades at $91,450.40, has been down 17.1% and 5.0% over the past month and year, respectively, showing bearishness in the market.
