Corporate Bitcoin Treasury Full Tracker 2026: Who Holds Most BTC?
As of May 26, 2026, a tracker cited by Bitcoin Treasuries says 254 entities hold 3,914,822 BTC, about 18.6% of the 21 million supply. ETFs lead with 1,499,344 BTC (7.14%), ahead of public companies (1,198,352) and governments (518,526). Strategy (MSTR) holds 843,738 BTC; it bought 24,869 BTC for $2.01B in May and reported YTD BTC yield of 13.3%.
How this was made
The 30-second read
Why it matters
Trading focus is on (1) companies with described recent BTC accumulation, (2) treasury policy changes that alter sell/hold behavior, and (3) accounting/disclosure mechanics that can change earnings sensitivity to BTC.
Market read
This is a BTC-ownership map that can drive relative-value trades across BTC-exposed equities, especially where the article cites concrete buys, policy pivots, collateralization, or accounting/disclosure changes.
What to watch
Key missing inputs are financing terms, expected sale schedules (where allowed), and how accounting changes translate into reported earnings versus cash flow.
Background
The article compiles a 2026 corporate Bitcoin treasury tracker, breaking down BTC held by ETFs, public/private companies, governments, DeFi protocols, and mining companies.
Ticker impact
Strategy (rebranded as a Bitcoin-first treasury company) holds 843,738 BTC and bought 24,869 BTC for $2.01B in mid-May.
Bias toward upside volatility if BTC holds strength and if capital markets remain receptive to MSTR’s preferred/convertible issuance.
The article provides specific recent purchase activity, note retirement, and an internal YTD BTC yield metric tied to share dilution and BTC exposure.
MARA updated its 2026 treasury policy to allow potential sales from existing Bitcoin reserves, ending its prior “never sell” rule.
Near-term reaction could be mixed: reduced “pure hold” narrative risk versus improved capital flexibility.
The article states the policy pivot but does not quantify expected sale size/timing, limiting precision on magnitude.
Twenty One Capital (XXI) holds 37,229 BTC and Tether bought SoftBank’s stake while pushing a merger with Strike and Elektron Energy.
If merger odds rise, expect positive skew; otherwise, BTC-mark-to-market may dominate.
The merger push is described, but completion probability and deal terms are not provided.
Riot Platforms is listed with 15,680 BTC, reinforcing its combined mining and treasury exposure to BTC price moves.
Expect correlation with BTC; no strong directional edge from this tracker entry alone.
Only a holdings snapshot is provided for Riot, without a new event.
Coinbase Global holds 14,458 BTC per the tracker, tying COIN’s balance sheet to BTC price and treasury policy.
Directionally aligned with BTC; limited incremental impact from this article alone.
The article provides a holding figure without describing new Coinbase actions or disclosures.
GameStop disclosed that nearly all of its 4,710 BTC were pledged to Coinbase as collateral for a covered-call options strategy.
Short-term could be neutral-to-slightly negative if investors view pledged BTC as less flexible; could also be neutral if seen as hedging/income generation.
The article provides a concrete disclosure about collateral usage, but not the market impact or terms.
Block (XYZ) holds 8,584 BTC in corporate treasury and published its first proof-of-reserves report in April 2026.
Mild positive bias if the market rewards transparency; magnitude likely limited without new financial results.
The article cites a specific April 2026 proof-of-reserves publication and on-chain verifiability signal.
Tesla holds 11,509 BTC and, under updated U.S. accounting rules effective in 2025, must report Bitcoin at fair market value.
Expect TSLA earnings sensitivity to BTC moves; direction depends on BTC trend rather than Tesla-specific buying.
The article ties accounting treatment to earnings recognition, which is a direct mechanism for volatility.
Market effects
Reinforces the “Bitcoin-first treasury” model and may increase investor focus on corporate BTC accounting, financing, and disclosure quality across crypto-adjacent equities.
Highlights Japan’s regulatory/tax shift as a potential catalyst for Japanese corporate BTC holders (e.g., Metaplanet).
Shows cross-border institutional adoption (ETFs, governments, and corporates), supporting the broader BTC demand narrative.
Counterpoint
A holdings tracker may overstate near-term tradability; without incremental company-specific transactions, many names remain driven primarily by BTC price rather than idiosyncratic catalysts.
Key entities
- public_companyStrategy (rebranded from MicroStrategy)
Holds 843,738 BTC and accelerated purchases in mid-May via preferred/convertible issuance and note retirement.
- public_companyMARA Holdings (formerly Marathon Digital)
Updated treasury policy in early 2026 to allow potential sales from existing BTC reserves.
- public_companyTwenty One Capital (XXI)
Holds 37,229 BTC; Tether bought SoftBank’s stake and is pushing a merger with Strike and Elektron Energy.
- public_companyMetaplanet
Holds 35,102 BTC and targets 100,000 BTC by end-2026 amid improving Japan digital-asset regulation.
- public_companyBlock (XYZ)
Published its first proof-of-reserves report in April 2026 and holds BTC in corporate treasury plus customer balances.
