HODL
The strategy of holding Bitcoin long term without selling, regardless of price.
Definition
HODL originated as a typo in a famous 2013 BitcoinTalk post ('I AM HODLING') and became the acronym for 'Hold On for Dear Life'. It describes the strategy of accumulating and holding Bitcoin for the long term, ignoring short-term volatility. Corporate treasury companies are, in essence, institutionalized HODL entities: they buy Bitcoin with no intention of selling it. Michael Saylor is the foremost exponent of this philosophy at corporate scale.
Related Terms
Mentioned in
- BlogBitcoin's market in mid-September: the ETFs stall and the treasuries buy again
- BlogBitcoin, the week of 24 to 30 August 2026: the ETFs buy, the treasuries stop
- BlogWhy Strategy is selling Bitcoin: the three sales of 2026 and what is driving them
- 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
- BlogWho custodies institutional Bitcoin? Coinbase, Fidelity, BitGo, Anchorage and Gemini, compared (2026)
- BlogBitcoin CEDEARs in Argentina: how to invest in BTC from BYMA (2026)
- BlogBest Bitcoin ETFs 2026: a comparison of the spot ETFs (IBIT, FBTC, GBTC and more)
- BlogBitcoin treasury companies: 179 firms with BTC (Sep 2026)
- BlogHODL stocks: the listed companies that never sell their Bitcoin
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.
Ver sección →Read this term in Spanish: versión en español →
Corporate Bitcoin, explained every week
Definitions, data and analysis on treasuries, ETFs and preferreds in your inbox. No spam.