MSTR Expert: Bitcoin Under $60K Breaks The Market

Adrian Morris is back to break down what Strategy’s latest earnings and the first serious stress test of its preferred-equity machine are revealing. STRC has rebounded after Strategy spent $106 million on buybacks, but Adrian argues the move is still overwhelmingly a Bitcoin and capital-structure story, not proof Strategy can simply defend par.

North America: Publicly Traded Bitcoin Treasury Companies

Track publicly traded companies holding Bitcoin on their balance sheets, ranked by BTC holdings.

BTC Held by Public Companies

1.165M

$90.02B

Number of Public Companies

97

BTC Price

$77,273

Asset Dominance

93.8%
BTC 93.8% ETH 5.5% SOL .47% BNB .14% XRP .14%

North America: Public Companies Ranked by Bitcoin Holdings

#
Name BitcoinTreasuries logo
1 🇺🇸
Strategy
840,447
$64,944M
$45,884M
$**,***M
*.********
$**,***M
*.**x
*.***
***.*%
4.002%
2 🇺🇸
43,514
$3,362M
$2,230M
$*,***M
*.********
$*,***M
*.**x
*.***
***.*%
0.207%
3 🇺🇸
35,577
$2,749M
$4,227M
$*,***M
*.********
$*,***M
*.**x
**.*%
0.169%
4 🇺🇸
30,021
$2,320M
0.143%
5 🇺🇸
Bullish
24,300
$1,878M
$3,425M
$*,***M
*.********
**.*%
0.116%
6 🇺🇸
Strive
20,246
$1,564M
$1,513M
$*,***M
*.********
$*M
*****.**x
*.***
***.*%
0.096%
7 🇺🇸
SpaceX
18,712
$1,446M
$1,047,350M
$*,***,***M
*.*%
0.089%
8 🇺🇸
17,311
$1,338M
$49,738M
$**,***M
*.********
$*,***M
*.**x
*.*%
0.082%
9 🇺🇸
13,931
$1,076M
$3,366M
$*,***M
*.********
**.*%
0.066%
10 🇺🇸
12,062
$932M
$2,541M
$*,***M
*.********
**.*%
0.057%
11 🇺🇸
11,509
$889M
$1,212,727M
$*,***,***M
*.********
$***M
*.**x
*.*%
0.055%
12 🇺🇸
11,380
$879M
$7,365M
$*,***M
*.********
**.*%
0.054%
13 🇺🇸
10,278
$794M
$8,683M
$*,***M
*.********
*.*%
0.049%
14 🇺🇸
9,117
$704M
$49,737M
$**,***M
*.********
*.*%
0.043%
15 🇺🇸
8,300
$641M
$7,342M
$*,***M
*.********
*.*%
0.040%
16 🇺🇸
7,500
$580M
$86M
$**M
*.********
$***M
*.**x
***.*%
0.036%
17 🇺🇸
6,894
$533M
$9,222M
$**,***M
*.********
*.*%
0.033%
18 🇺🇸
5,528
$427M
$233M
$***M
***.*%
0.026%
19 🇺🇸
5,405
$418M
$73M
$***M
***.*%
0.026%
20 🇺🇸
4,467
$345M
$124M
$***M
*.********
*.***
***.*%
0.021%
21 🇺🇸
2,899
$224M
$29M
$**M
*.********
$***M
*.**x
*.***
***.*%
0.014%
22 🇺🇸
2,662
$206M
$3,101M
$*,***M
*.*%
0.013%
23 🇨🇦
2,597
$201M
$195M
$***M
*.********
***.*%
0.012%
24 🇺🇸
2,523
$195M
$746M
$*,***M
**.*%
0.012%
25 🇺🇸
2,469
$191M
$1,826M
$*,***M
*.********
**.*%
0.012%
26 🇺🇸
1,279
$99M
$116M
$***M
*.********
**.*%
0.006%
27 🇺🇸
Cango Inc
1,065
$82M
$376M
$*,***M
*.********
**.*%
0.005%
28 🇺🇸
1,016
$79M
$12,272M
$**,***M
*.*%
0.005%
29 🇺🇸
1,000
$77M
$3M
$*M
*.********
*.***
****.*%
0.005%
30 🇺🇸
1,000
$77M
$7M
****.*%
0.005%
31 🇺🇸
848
$66M
$5,669M
$*,***M
*.********
*.*%
0.004%
32 🇺🇸
760
$59M
$99M
$**M
*.********
**.*%
0.004%
33 🇨🇦
743
$57M
$26M
$**M
*.********
$**M
*.**x
*.***
***.*%
0.004%
34 🇺🇸
646
$50M
$5,924M
$*,***M
*.********
*.*%
0.003%
35 🇺🇸
618
$48M
$3,391M
$*,***M
*.*%
0.003%
36 🇺🇸
600
$46M
$223M
$***M
*.********
**.*%
0.003%
37 🇺🇸
527
$41M
$7,264M
$*,***M
*.*%
0.003%
38 🇨🇦
420
$32M
$63M
$**M
**.*%
0.002%
39 🇺🇸
410
$32M
$10,362M
$**,***M
$**M
*.**x
*.*%
0.002%
40 🇨🇦
393
$30M
$74M
$**M
**.*%
0.002%
41 🇺🇸
354
$27M
$68M
$*M
*.********
$**M
*.**x
**.*%
0.002%
42 🇺🇸
334
$26M
$14M
$**M
*.********
***.*%
0.002%
43 🇺🇸
303
$23M
$567M
$***M
*.*%
0.001%
44 🇨🇦
293
$23M
$1,933M
$*,***M
*.*%
0.001%
45 🇺🇸
275
$21M
$0M
0.001%
46 🇨🇦
267
$21M
$17M
$**M
*.********
$**M
*.**x
*.***
***.*%
0.001%
47 🇺🇸
208
$16M
$13,726M
$**,***M
*.***
*.*%
0.001%
48 🇺🇸
192
$15M
$23M
$**M
*.********
**.*%
0.001%
49 🇨🇦
176
$14M
$3M
$**M
***.*%
0.001%
50 🇺🇸
159
$12M
$328M
$***M
*.********
$*M
*.**x
*.*%
0.001%
51 🇨🇦
150
$12M
$698M
$***M
*.********
*.*%
0.001%
52 🇨🇦
144
$11M
$6M
$-*M
***.*%
0.001%
53 🇺🇸
132
$10M
$505M
$***M
$*M
*.**x
*.*%
0.001%
54 🇺🇸
108
$8M
$11M
$**M
$**M
*.**x
**.*%
0.001%
55 🇺🇸
83
$6M
$12M
$*M
$*M
*.**x
**.*%
0.000%
56 🇺🇸
74
$6M
$20,638M
$**,***M
*.*%
0.000%
57 🇨🇦
69
$5M
$11M
$**M
$*M
*.**x
**.*%
0.000%
58 🇨🇦
68
$5M
$17M
$**M
**.*%
0.000%
59 🇨🇦
53
$4M
0.000%
60 🇺🇸
46
$4M
0.000%
61 🇺🇸
44
$3M
$2M
$*M
$*M
*.**x
***.*%
0.000%
62 🇺🇸
43
$3M
$53M
$**M
*.*%
0.000%
63 🇨🇦
WonderFi
40
$3M
0.000%
64 🇨🇦
36
$3M
$6M
$*M
**.*%
0.000%
65 🇨🇦
29
$2M
$19M
$-*M
$*M
*.**x
**.*%
0.000%
66 🇨🇦
25
$2M
$2M
$**M
**.*%
0.000%
67 🇨🇦
24
$2M
$2M
$-*M
$*M
*.**x
**.*%
0.000%
68 🇺🇸
23
$2M
$23M
$*M
*.*%
0.000%
69 🇺🇸
20
$2M
$30M
$*M
*.**x
*.*%
0.000%
70 🇺🇸
18
$1M
$2M
$*M
$*M
*.**x
**.*%
0.000%
71 🇨🇦
17
$1M
$2M
$*M
*.********
**.*%
0.000%
72 🇨🇦
17
$1M
0.000%
73 🇺🇸
17
$1M
$22M
$**M
*.*%
0.000%
74 🇺🇸
16
$1M
$22M
$**M
*.*%
0.000%
75 🇺🇸
15
$1M
$3M
$*M
$*M
*.**x
**.*%
0.000%
76 🇺🇸
15
$1M
$5M
$*M
$*M
*.**x
**.*%
0.000%
77 🇺🇸
TeraWulf
15
$1M
$7,717M
$**,***M
*.*%
0.000%
78 🇺🇸
12
$1M
$22M
$**M
$*M
*.**x
*.*%
0.000%
79 🇨🇦
11
$1M
$2M
$*M
$*M
*.**x
**.*%
0.000%
80 🇺🇸
10
$1M
$36M
$**M
$*M
*.**x
*.*%
0.000%
81 🇺🇸
7
$1M
$64M
$**M
$*M
*.**x
*.*%
0.000%
82 🇺🇸
6
$0M
$497M
$***M
*.*%
0.000%
83 🇺🇸
6
$0M
$1M
$*M
$*M
*.**x
**.*%
0.000%
84 🇨🇦
5
$0M
$78M
$**M
*.*%
0.000%
85 🇨🇦
5
$0M
$1M
$*M
**.*%
0.000%
86 🇨🇦
4
$0M
$1M
$*M
**.*%
0.000%
87 🇨🇦
4
$0M
$60M
$**M
*.*%
0.000%
88 🇨🇦
3
$0M
0.000%
89 🇨🇦
3
$0M
$*M
*.**x
0.000%
90 🇺🇸
3
$0M
$45M
$**M
*.*%
0.000%
91 🇨🇦
3
$0M
$2M
$*M
**.*%
0.000%
92 🇨🇦
2
$0M
0.000%
93 🇺🇸
1
$0M
$8,131M
$*,***M
*.********
*.*%
0.000%
94 🇺🇸
.8
$0M
0.000%
95 🇺🇸
.8
$0M
$42M
$-**M
*.*%
0.000%
96 🇺🇸
.3
$0M
$*M
*.**x
0.000%
97 🇺🇸
.2
$0M
0.000%
98 🇨🇦
0
$0M
$52M
$**M
0.000%
99 🇺🇸
BTCS Inc.
0
$0M
$68M
$***M
0.000%
100 🇺🇸
0
$0M
$0M
0.000%
101 🇺🇸
0
$0M
$108M
$**,***M
0.000%
102 🇺🇸
0
$0M
0.000%
103 🇨🇦
0
$0M
$*M
0.000%
104 🇺🇸
0
$0M
0.000%
Total:
1,164,962
$90,020M
5.547%

Other Digital Assets Tracked