Market analysts have identified the significant influence of public Bitcoin companies, which serve a dual role as publicly traded entities and major institutional Bitcoin holders, on the cryptocurrency's narrative. These companies have been central to discussions surrounding Bitcoin's adoption and market movements.
Despite Bitcoin currently being in a bear market, evidenced by a drop of over 20% from its recent all-time high, corporations such as Strategy (formerly MicroStrategy), Tesla, and MetaPlanet continue to hold billions of dollars in BTC within their financial treasuries. This practice attracts considerable interest from retail investors, investment funds, and international index providers.
However, the current market volatility has led to a significant downturn in the stock prices of these organizations, with their shares down by more than 40%. This has consequently sparked two contrasting viewpoints regarding their Bitcoin strategies and their potential impact on BTC.
Corporate Bitcoin Holdings in November 2025
On-chain metrics from the past week indicate that eight out of the top 100 public companies with the largest BTC holdings have increased their Bitcoin reserves. Data reported on November 30, 2025, shows that only one firm has reduced its holdings, according to BitcoinTreasuries.NET metrics. Collectively, Bitcoin holding companies currently possess 1,058,743 BTC tokens, demonstrating a sustained interest in Bitcoin accumulation among prominent institutions.
For years, the concept of a publicly listed firm acquiring Bitcoin for its balance sheet was considered unconventional. The leading cryptocurrency was often perceived as too volatile for adoption by any forward-thinking company. This perception has been challenged by several major corporations that have accumulated BTC in recent years. Strategy (formerly MicroStrategy) pioneered institutional Bitcoin adoption by purchasing $425 million in Bitcoin in September 2020. The company, which has consistently bought Bitcoin, now holds 649,870 BTC tokens, valued at over $48.3 billion.
Other significant corporations have followed suit. Marathon Holdings Inc., a Bitcoin mining company, is the second-largest Bitcoin holder with 50,639 BTC (valued at $5.5 billion) on its balance sheet. Twenty-One Capital, a Bitcoin treasury firm, ranks third, holding 43,514 BTC valued at $4.7 billion in its corporate treasury. Among the top 10 Bitcoin-holding companies, as illustrated by CryptoQuant, are MetaPlanet (currently holding 30,823 BTC) and Tesla (currently holding 11,509.3 BTC), among others.
Company Adjustments in Holdings and Their Effect on BTC Price
Recent data confirms a continuous increase in the total amount of Bitcoin held by publicly-listed firms. As of November 30, 2025, public companies collectively hold 1,058,743 BTC, an increase from the 1,000,019 BTC recorded on September 4, 2025. Market analysts anticipate that as Bitcoin continues to outperform fiat currencies globally, more corporations will enter the market, purchase and hold Bitcoin, thereby potentially driving the BTC price upward.
Bitcoin is currently trading at $91,450.40. Over the past month, it has experienced a 17.1% decrease, and over the past year, a 5.0% decrease, indicating a bearish trend in the market.