Top 10 Public Companies with Largest Bitcoin Holdings in 2023: Who’s Leading the Pack?

As Bitcoin (CRYPTO: BTC) is becoming an increasingly popular investment option, with many public companies following suit and investing in the apex cryptocurrency. In 2023, this trend continues to grow, with more and more companies holding Bitcoin on their balance sheets.

Using data from CoinGecko, we’ve compiled a list of the top 10 public companies with the largest Bitcoin holdings. From household names to lesser-known players, let’s take a closer look at who is leading the way in the crypto space.

1. MicroStrategy Inc (NASDAQ:MSTR)

MicroStrategy is currently at the top of the list with a whopping 129,699 BTC in its portfolio. The company’s CEO, Michael Saylor, has been a vocal proponent of Bitcoin, even going so far as to convert the majority of MicroStrategy’s treasury to cryptocurrency. While the entry value of the company’s investment was $3.975 billion, the present value of their holdings is $2.905 billion, representing a significant loss in value. However, Saylor remains positive about Bitcoin’s long-term prospects and is confident that the investment will pay off in the future.

2. Marathon Digital Holdings (NASDAQ:MARA)

Marathon is a crypto mining company that currently has 10,054 BTC, with an entry value of $150 million and a current value of $225 million.

3. Coinbase Global Inc (NASDAQ:COIN)

As one of the largest crypto exchanges in the world, Coinbase is no stranger to the world of Bitcoin. The company currently has 9,000 BTC, with an entry value of $173.7 million and a current value of $201.6 million.

4. Square Inc (NASDAQ:SQ)

The financial services and mobile payments company currently has 8,027 BTC, with an entry value of $220 million and a current value of $179.8 million. Like Coinbase, Square’s investment in Bitcoin is relatively small compared to other companies on this list, but it’s clear that the company sees potential in the crypto market.

5. Hut 8 Mining Corp (TSX:HUT)

Hut 8 is another crypto mining company that has diversified its portfolio by investing in Bitcoin. The company currently has 7,078 BTC, with a current value of $158.5 million.

6. Hive Blockchain (CVE:HIVE)

Hive Blockchain is a crypto mining company operating in Canada and Sweden. The company currently has 3,091 BTC, with a current value of $69.2 million.

7. NEXON Co. Ltd (OTC:NEXOF)

NEXON is a Japanese video game company that has been operating since 1994. The company has 1,717 BTC worth $38,458,825 at current market prices. NEXON’s investment in Bitcoin is part of its diversification strategy, which also includes investments in other non-gaming industries. The company has a strong financial position, with a market value of over 20 billion dollars.

8. Voyager Digital LTD (OTC:VYGVQ)

Voyager is a Canadian crypto broker that filed for Chapter 11 bankruptcy. As of March 2023, the company has 1,239 BTC worth $27,752,175 at current market prices. Binance (KRYPTO: BNB) CEO Changpeng Zhao has reiterated the company’s support to Voyager deal to be bought by Binance US, despite objections raised by the US The Security and Exchange Commission (SEC).

9. Aker ASA (OTC: AKAAF)

Aker ASA is a Norwegian industrial investment company that has been in operation since 1841. The company owns 1,170 BTC worth $26,206,654 at current market prices through its subsidiary. The company’s chairman, Kjell Inge Røkkehas been a vocal supporter of Bitcoin, and has stated that he believes it can help accelerate the transition to a more sustainable future.

10. Meitu (HKG:1357)

Meitu is a Chinese technology company that develops image and video processing software for mobile devices. As of March 2023, the company has 940 BTC worth $21,074,406 at current market prices.

Public companies are increasingly recognizing the value of investing in Bitcoin, and savvy investors can get in on the action without leaving the stock market. Indirect exposure to crypto can be gained by investing in one of the companies mentioned above.

These top 10 players have shown a willingness to take risks and explore investment opportunities in the rapidly evolving world of cryptocurrency. As Bitcoin solidifies its position as a mature asset, it remains to be seen how these companies will adapt and evolve their investment strategies.

Now Read: Bitcoin Bull Mark Yusko Asks Why Dogecoin Exists: “My Mind Hurts”

Disclosure: Benzinga CEO Jason Raznick is a member of the unsecured creditors’ committee in the Voyager Digital bankruptcy case.