Corporate Treasury
A company that adopts Bitcoin as a primary or significant balance-sheet asset.
Definition
A Bitcoin Treasury Company is a company that has adopted Bitcoin as the primary reserve asset of its treasury, sometimes complementing or replacing cash and traditional bonds. The model was pioneered by MicroStrategy (now Strategy) in August 2020 and has been replicated by dozens of companies worldwide. Pure-play treasuries (such as Strategy or Metaplanet) build their entire value proposition around accumulating BTC. Other companies (Tesla, Block) hold BTC as a diversified component of their balance sheet.
In Context
As of 2025, more than 50 publicly listed companies hold Bitcoin on their balance sheets.
Mentioned in
- NewsThe Clarity Act fails in the Senate 49 to 50, leaving crypto regulation to the SEC and the CFTC
- BlogWhat it costs for something to be true
- BlogBitcoin, the week of 24 to 30 August 2026: the ETFs buy, the treasuries stop
- NewsMetaplanet takes 95.7% of Super League with 2,100 bitcoin to open a US treasury
- BlogThe SatsIntel app is now on the App Store and Google Play
- BlogWhy Strategy is selling Bitcoin: the three sales of 2026 and what is driving them
- NewsStrategy hits five weeks without buying Bitcoin and lifts its dollar reserve to $3.75 billion
- NewsCorporate treasuries pass 1.28 million BTC and post their biggest buying quarter
- BlogCan a Bitcoin treasury company be forced to sell? Strategy's 2026 pivot
- NewsBitcoin Standard Treasury (BSTR), Adam Back's treasury, enters the global top ranks before it even trades
Explore more on SatsIntel
From the concept to the real dataTreasuries directory
Companies applying this concept on their balance sheets. Holdings, mNAV and live ranking.
Ver sección →mNAV calculator
Check whether a treasury trades at a premium or discount to the Bitcoin on its balance sheet.
Ver sección →Treasury stress test
What happens to each company's balance sheet and debt under a -50% or -80% drawdown.
Ver sección →More glossary terms
60 definitions from the corporate Bitcoin ecosystem: protocol, metrics, regulation.
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