{"id":8621,"date":"2025-10-15T20:21:52","date_gmt":"2025-10-15T18:21:52","guid":{"rendered":"https:\/\/joapen.com\/blog\/?p=8621"},"modified":"2025-10-15T20:23:53","modified_gmt":"2025-10-15T18:23:53","slug":"bitcoin-treasuries","status":"publish","type":"post","link":"https:\/\/joapen.com\/blog\/2025\/10\/15\/bitcoin-treasuries\/","title":{"rendered":"Bitcoin Treasuries"},"content":{"rendered":"\n

A Bitcoin treasury company<\/strong> is a firm that holds a significant portion of its corporate reserves or balance sheet assets in Bitcoin.<\/p>\n\n\n\n

More specifically, the term often refers to publicly traded companies that:<\/p>\n\n\n\n

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  1. Allocate a large majority of their assets to Bitcoin<\/strong> as a primary strategy, often aiming to accumulate as much Bitcoin as possible.<\/li>\n\n\n\n
  2. Raise capital<\/strong> (via stock offerings or debt) specifically to acquire more Bitcoin, effectively providing investors with indirect price exposure to the cryptocurrency through traditional equity markets.<\/li>\n<\/ol>\n\n\n\n

    Who are the main clients of these companies?<\/h2>\n\n\n\n

    Institutional Investors, specially Funds and Asset Managers, why?<\/p>\n\n\n\n

    Many large institutions, such as retirement funds, mutual funds, or family offices, face strict regulatory mandates or risk-tolerance rules that prohibit them from directly owning volatile, non-regulated assets like Bitcoin. <\/span><\/strong>Investing in the stock or debt (like convertible notes) of a publicly traded treasury company allows them to gain exposure while staying compliant with their internal mandates.<\/p>\n\n\n\n

    Who are the main players?<\/h2>\n\n\n\n
    Rank<\/td>Company Name<\/td>Ticker<\/td>Bitcoin (BTC) Held (Approx.)<\/td>Core Business<\/td><\/tr><\/thead>
    1<\/strong><\/td>Strategy<\/strong> (formerly MicroStrategy)<\/td>MSTR<\/td>640,250<\/td>Business Intelligence\/Bitcoin Treasury<\/td><\/tr>
    2<\/strong><\/td>MARA Holdings, Inc.<\/strong> (formerly Marathon Digital)<\/td>MARA<\/td>53,250<\/td>Bitcoin Mining<\/td><\/tr>
    3<\/strong><\/td>XXI<\/strong> (Twenty One Capital)<\/td>CEP<\/td>43,514<\/td>Investment\/Bitcoin Treasury<\/td><\/tr>
    4<\/strong><\/td>Metaplanet Inc.<\/strong><\/td>3350.T (TSE)<\/td>30,823<\/td>Investment\/Bitcoin Treasury (Japan-based)<\/td><\/tr>
    5<\/strong><\/td>Bitcoin Standard Treasury Company<\/strong><\/td>CEPO<\/td>30,021<\/td>Investment\/Bitcoin Treasury<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    The main ways these companies raise capital are:<\/p>\n\n\n\n