Bitcoin Hits Record Highs as Corporate Holders Sit Tight on Massive Gains
Bitcoin’s surge to new highs above $117,000 is handing big profits to its largest institutional holders—most of whom are choosing not to sell.
Strategy (MSTR), the business-intelligence firm turned bitcoin heavyweight, owns nearly 600,000 BTC, according to BitcoinTreasuries.Net. At a price of $117,464, those holdings amount to about $28 billion in unrealized profit. The company has spent over $42 billion amassing its stash, ranking it as the third-largest bitcoin holder behind only BlackRock and bitcoin’s elusive creator, Satoshi Nakamoto.
Unlike BlackRock—which holds bitcoin for investors via its iShares Bitcoin Trust (IBIT), launched in January 2024—Strategy carries its bitcoin directly on its balance sheet. Executive Chairman Michael Saylor remains firmly committed to holding for the long haul, recently declaring on X:
“The halls of eternity echo with the cries of those who sold their Bitcoin.”
Strategy’s holdings eclipse those of every other publicly traded firm by a wide margin.
Other significant holders are also seeing hefty paper gains. Japan’s Metaplanet (3350), which began aggressively buying bitcoin in 2024, now holds 15,555 BTC valued at about $1.83 billion—an unrealized profit of $284 million.
Meanwhile, El Salvador—the first nation to make bitcoin legal tender—owns 6,234 BTC, worth around $733 million at current prices. That translates to a $232 million unrealized gain, a stark turnaround from losses during the 2022 crypto downturn.
Smaller firms are reaping benefits too. Semler Scientific (SMLR), which followed Strategy’s lead last year by adding bitcoin to its treasury, holds 4,636 BTC and is sitting on $160 million in unrealized profits. France’s Blockchain Group (ALTBG) owns 900 BTC, with about $30.5 million in paper gains.
Despite substantial potential profits, few companies are cashing out. Many corporate holders are so-called “bitcoin maximalists,” committed to holding indefinitely. While some might eventually trim their positions, others—like Saylor—insist they plan to hold forever.
