Corporate interest in Bitcoin reached new highs in the second quarter of the year, with companies adding a record 159,107 BTC to their balance sheets, worth over $17.6 billion at current prices . The figure marks a 23.13% quarter-on-quarter increase, bringing total corporate Bitcoin holdings to 847,000 BTC, or approximately 4% of the capped 21 million supply, according to data accumulated by Bitwise Asset Management .
The total value of corporate Bitcoin holdings surged to $91 billion by the end of Q2, calculated based on Bitcoin's closing price of $107,754, a 60.93% increase in price from the previous quarter . Since then, BTC has resumed its rally, surging to a new all-time high above $112,000 on Wednesday . The number of public companies holding Bitcoin also jumped sharply, with 46 new firms entering the space, raising the total to 125, a 58.23% increase quarter-on-quarter .
Leading the charge is Strategy, with a massive BTC stash of 597,325 coins . The firm, led by Bitcoin bull Michael Saylor, has championed the Bitcoin accumulation strategy by consistently issuing convertible notes and at-the-market (ATM) equity offerings to fund aggressive Bitcoin purchases . Strategy's Bitcoin accumulation has also fueled a strong performance in its stock price . The company's stock is up 43% year-to-date, far outperforming the S&P 500's modest 6.4% gain over the same period .
Bitcoin miner MARA Holdings is the second-largest corporate holder of Bitcoin, with 49,940 BTC on its balance sheet . The company's shares have gained more than 10% YTD . New entrants are also making waves in the Bitcoin treasury space . London BTC Company, previously Vinanz, secured $2 million in new funding through the issuance of 11.5 million ordinary shares .
Several other companies also hold significant Bitcoin reserves, including Riot Platforms, Coinbase Global, Block, and Tesla . These companies have adopted various strategies for acquiring and holding Bitcoin, including using it as part of their business strategy, holding it as a treasury reserve, or using it to attract investors .