Public Companies Double Bitcoin Holdings in 2024, Surpassing 592,112 BTC

Public companies have significantly increased their Bitcoin holdings in 2024, with the total accumulation surpassing the combined total of the previous five years. This surge in Bitcoin holdings by public companies indicates a growing institutional interest in the cryptocurrency, driven by its potential as a store of value and a hedge against inflation.

On January 1, 2024, the amount of Bitcoin held by publicly listed companies was 272,777 BTC. By the end of the year, this figure had more than doubled to 592,112 BTC. This accumulation is particularly notable given the significant leaps in 2020 and 2021, when institutions inched close to a 100,000 BTC stash and then surpassed 200,000 BTC the following year. However, the momentum was temporarily interrupted as publicly listed companies realized part of their Bitcoin stash, almost losing the 200,000 BTC threshold. The accumulation movement resumed in 2023 and sharply increased last year.

One of the key drivers of this accumulation is MicroStrategy, a company led by Michael Saylor, which has over 499,000 BTC in its treasury as of March after adding 257,095 BTC last year via 16 buys. If MicroStrategy's stash were excluded, the amount of Bitcoin held by public companies would be significantly smaller. As of March 6, public companies held $52 billion worth of Bitcoin, equivalent to 3% of the flagship crypto’s total supply.

This trend is not isolated to a single company. Other firms have also been ramping up their accumulation strategies, recognizing the value and stability that Bitcoin can offer. For instance, the Japanese firm Metaplanet has been actively increasing its Bitcoin holdings. In recent transactions, the company acquired an additional $13.2 million in Bitcoin, bringing its total holdings to approximately $250 million. This strategic move reflects Metaplanet's commitment to Bitcoin as a key component of its investment portfolio, particularly as it seeks to capitalize on market dips and long-term growth potential.

The collective shift towards Bitcoin highlights a broader acceptance of cryptocurrencies within the corporate world, as companies look to diversify their assets and protect against economic uncertainties. The accumulation of Bitcoin by public companies is a significant development in the cryptocurrency landscape. It signals a maturing market where institutional investors are increasingly viewing Bitcoin as a legitimate and valuable asset. This trend is likely to continue as more companies recognize the benefits of holding Bitcoin, further driving its adoption and integration into mainstream finance.

In addition to public companies, various institutional investors also saw significant growth in their Bitcoin holdings in 2024. According to Bitcoin Treasuries, private companies, exchange-traded products (ETP) managers, governments, and publicly listed firms held 2,802,135 BTC as of Dec. 31, 2024, compared to 1,622,439 BTC at the start of last year. This jump is mainly attributed to governments and ETP managers. Governments started last year with 90,379 BTC in their vaults, with the stash growing to 513,791 BTC by the end of the year. Meanwhile, Bitcoin held by asset managers climbed to 1,289,031 BTC from 771,013 BTC over the same period, while private companies shed their holdings from 488,270 BTC on Jan. 1, 2024 to 407,201 BTC by the end of last year.