Public companies continue to aggressively accumulate Bitcoin at an unprecedented pace, with their purchases so far already exceeding the total estimated 2025 supply.
According to André Dragosch, European Head of Research at Bitwise, public corporations have already purchased 196,207 BTC in 2025, surpassing the new Bitcoin supply within the same timeframe.
Public Firms Purchase More Bitcoin Than Annual Supply
Particularly, the new Bitcoin supply has so far injected 60,044 tokens into the market, indicating that corporations have bought over 3.3 times that amount. More interestingly, their acquisitions already exceed the full year estimated annual issuance of 164,250 BTC.
Bitcoin Corporate Purchases vs New Supply | Bitwise
This intense accumulation trend is not limited to public firms alone. Investment vehicles like ETFs have also been relentless in their pursuit of Bitcoin, adding over 59,000 BTC to their holdings in 2025 alone.
These acquisitions, worth more than $6.15 billion, contribute to the supply crunch narrative. With both institutional funds and corporate treasuries scooping up more Bitcoin than what miners are producing, a potential supply shock might be looming.
Bitcoin Acquisitions in May 2025 Alone
Recent acquisition data indicates that in May 2025, Twenty One Capital entered the discussion. Despite being a new entrant, the firm has quickly become one of the top corporate holders of Bitcoin, now ranking third among public companies with a Bitcoin balance of 31,500 BTC valued at approximately $3.2 million.
Another notable buyer is Metaplanet, which purchased 1,241 BTC three days back. Similarly, companies such as KULR and Semler Scientific made significant entries in May, with KULR investing $4 million into Bitcoin.
No discussion of corporate Bitcoin accumulation is complete without spotlighting Strategy. The company continues to dominate the landscape, having bought 106,085 BTC in Q1 2025 alone.
JUST IN: Michael Saylor’s ‘Strategy’ Q1 2025 Earnings Call highlighted they have 553,555 BTC, making it the largest corporate holder globally.
They acquired 106,085 Bitcoin so far in 2025. pic.twitter.com/Db497N9BVF
— Simply Bitcoin (@SimplyBitcoinTV) May 1, 2025
About 197 Entities Now Hold Over 3M Bitcoin
In May, it increased its holdings by 15,285 BTC, bringing its total stash to a staggering 568,840 BTC, valued at approximately $58.3 billion. Strategy now ranks as the second-largest Bitcoin holder in the world, trailing only behind BlackRock’s iShares Bitcoin Trust ETF, which currently holds 625,054 BTC worth $64.08 billion.
Data from Bitcointreasuries.net reveals the magnitude of institutional involvement. Currently, 197 entities, including public and private companies, ETFs, governments, smart contracts, and custodians, collectively hold around 3.32 million BTC, representing over 16% of the circulating supply.
ETFs and investment funds account for the largest chunk, with 1.343 million BTC. Public firms hold 786,857 BTC in their treasuries. Government holdings stand at 527,737 BTC, while private companies such as Tether, Block, and SpaceX control a combined 286,297 BTC.
Among public firms, MARA Holdings trails Strategy with 48,237 BTC valued at $4.94 billion, while Riot Platforms and Galaxy Digital follow with 19,211 BTC and 13,704 BTC, respectively. Strategy Chairman Michael Saylor has projected that 700 public companies will hold BTC by next year.