Recent report by on-chain data aggregator CryptoQuant reveals the cumulative Bitcoin stash held by the fast-growing BTC treasury companies.

The report predicts that this trend has only just started.

Bitcoin treasury boom starts

CryptoQuant published a thread about Bitcoin treasury companies, which are emerging one after another these days, following the example set by Michael Saylor with his Strategy converted into a BTC treasury company from business intelligence software producer MicroStrategy.

A clear uptrend here has been displayed by the fact of 51 companies adding Bitcoin to their treasuries recently. These companies include the aforementioned Strategy and Metaplanet — both have been accumulating BTC on a weekly basis recently.

848,902.2 BTC held in Bitcoin treasuries, but here's the catch

The above-mentioned report unveiled that, by now, 51 companies are holding Bitcoin in their treasuries. Cumulatively they are holding a massive 848,902.2 BTC. This amount of Bitcoin is equal to $93,059,545,431.

However, notably, more than half of this amount is held by a single company – Michael Saylor’s Strategy, which owns 597,325 BTC worth $65,480,797,405.

CryptoQuant noted that only nine companies from that list hold more than 10,000 Bitcoins. The rest hold a lot less BTC. Only two companies founded since 2023 now hold more than 5,000 BTC, while 86 firms created more recently own roughly 500 BTC on average. Twenty One (XXI) holds 37,230 BTC.

The top fifth BTC holder after Strategy is Metaplanet with its 13,350 Bitcoin. Metaplanet, like all the rest of these Bitcoin treasury companies, copied Strategy’s playbook and issues securities to buy and hold Bitcoin. Since the year began, Metaplanet has made 21 Bitcoin purchases.

CryptoQuant stated that the MSTR price has surged along with that of Bitcoin this year, which indicates that “investors are using these stocks as a proxy to gain Bitcoin exposure.”