MicroStrategy’s Bitcoin Dominance Slips to 60% Amid Slower Accumulation and Competition

• Corporate Bitcoin accumulation slowed in October 2025, with only 14,447 BTC added across public and private companies, the smallest monthly increase this year.

• Metaplanet emerged as a key player, acquiring 5,268 BTC to reach 30,823 BTC, securing fourth place among holders.

• The number of Bitcoin-holding entities surged to 353 by October 31, more than double from January, with the U.S. leading geographically at 123 entities.

MicroStrategy’s Bitcoin holdings lead corporate treasuries, but dominance slips amid rising competition. Discover key trends in BTC accumulation and altcoin shifts for 2025 insights—stay ahead in crypto investments today.

What Are MicroStrategy’s Current Bitcoin Holdings?

MicroStrategy holds 640,808 BTC as of October 31, 2025, maintaining its position as the largest corporate Bitcoin treasury despite a decline in overall dominance. The company’s share of total corporate holdings has fallen to 60% from 75% earlier in the year, according to data from BitcoinTreasuries.NET. This shift reflects broader trends in corporate adoption where slower accumulation by MicroStrategy is offset by aggressive purchases from emerging players in the space.

Michael Saylor’s company remains a top Bitcoin holder, but its dominance has fallen amid slower accumulation and rising competition.

Michael Saylor’s MicroStrategy has seen its dominance among corporate Bitcoin holders decline in October amid slower purchases and a growing number of companies adding crypto to their treasuries.

The decline in MicroStrategy’s dominance comes as corporate accumulation continues, albeit at a slower pace. Public and private companies added 14,447 BTC to their treasuries in October, the smallest monthly increase of 2025.

Metaplanet led October’s purchases with 5,268 BTC, ending the month with 30,823 BTC, ranking fourth among all tracked holders. Coinbase made the second-largest addition, buying 2,772 BTC to reach 14,548 BTC by the end of Q3.

CEO Brian Armstrong confirmed the purchases, writing on X, “Coinbase is long Bitcoin. Our holding increased by 2,772 BTC in Q3. And we keep buying more.”

Source: Brian Armstrong

As of Oct. 31, 353 entities held Bitcoin, including 276 public and private companies, more than double January’s count.

Geographically, the United States led with 123 Bitcoin-holding entities, followed by Canada (43), the United Kingdom (22), and Japan (15), according to the report.

Top corporate Bitcoin holders. Source: BitcoinTreasuries.NET

Stock and share buybacks also trended in October, with at least five Bitcoin and four altcoin treasuries repurchasing shares. Metaplanet announced plans to buy back up to 150 million common shares using a $500 million credit line, while Sequans Communications launched a 1.57 million ADS buyback program.

How Is Corporate Bitcoin Accumulation Evolving in 2025?

Corporate Bitcoin accumulation in 2025 has shown steady growth, but October marked a slowdown with just 14,447 BTC added across 276 tracked companies, per BitcoinTreasuries.NET data. This represents the lowest monthly figure for the year, down from more aggressive buying earlier. The trend underscores a maturing market where long-term holding strategies prevail, with most firms opting to accumulate rather than sell amid Bitcoin’s price stability around $105,000.

Expert analysis from Fidelity Digital Assets highlights this shift, noting that public companies are increasingly contributing to Bitcoin’s illiquid supply. As of the end of Q2 2025, out of 19.8 million BTC in circulation, approximately 42%—or over 8.3 million BTC—could become illiquid by 2032 due to corporate and long-term holder retention. “Bitcoin is seemingly entering a new era, led by two main cohorts: long-term holders and public companies,” Fidelity Digital Assets stated in their report. “The addition of corporate treasuries into the illiquid supply category has accelerated the pace of accumulation.”

This evolution is geographically diverse, with the United States dominating at 123 entities, followed by Canada with 43. Japan and the UK trail with 15 and 22, respectively, indicating broadening global interest. Buyback programs further signal confidence, as seen with Metaplanet’s $500 million initiative and Sequans Communications’ ADS repurchase. These moves not only bolster stock prices but also reinforce commitment to digital asset strategies without liquidating BTC holdings.

The rise in entities—from fewer than 200 in January to 353 by October—demonstrates accelerating adoption. Companies like Metaplanet and Coinbase are driving this, with Metaplanet’s 5,268 BTC addition propelling it to fourth place overall. Coinbase’s 2,772 BTC purchase in Q3, confirmed by CEO Brian Armstrong, exemplifies institutional bullishness. Such developments suggest that while MicroStrategy’s lead persists, the corporate landscape is diversifying, potentially stabilizing Bitcoin’s supply dynamics for the long term.

Frequently Asked Questions

What Impact Does MicroStrategy’s Declining Dominance Have on Corporate Bitcoin Holdings?

MicroStrategy’s dominance slipping to 60% of corporate Bitcoin holdings signals a more competitive treasury landscape in 2025, encouraging diversification among firms. With 640,808 BTC still leading the pack, it sets a benchmark, but newcomers like Metaplanet adding 5,268 BTC show broader adoption. This trend increases overall illiquid supply, potentially supporting BTC prices without speculation.

Which Countries Lead in Corporate Bitcoin Adoption?

The United States tops the list with 123 Bitcoin-holding entities as of October 2025, according to BitcoinTreasuries.NET. Canada follows with 43, while the United Kingdom has 22 and Japan 15. This distribution reflects regulatory environments favorable to crypto treasuries, fostering innovation and investment in North America and Europe.

The Rise of Altcoin Treasuries

Beyond Bitcoin treasury companies, the report noted the rise of public companies dedicated to altcoin accumulation, most notably Solana (SOL) and Ether (ETH).

At the end of October, BTC accounted for about 82% of total dollar value in crypto treasuries, down from 94% in April, while ETH had risen to 15% from 2.5%, and SOL remained steady at 2–3%.

The top ETH treasury company is Bitmine, which holds 3,505,723, or nearly 3% of the total Ether supply, according to CoinGecko data.

Top corporate Ether holders. Source: BitcoinTreasuries.NET

Sharplink Gaming, the second-largest ETH treasury, announced in October that it would deploy $200 million worth of ETH from its corporate treasury onto Consensys’ Linea network in order to generate higher onchain yields.

One benefit of digital asset treasuries dedicated to proof-of-stake blockchains, such as Solana and Ethereum, is that companies can generate passive income by securing the network as validators, thereby receiving staking rewards while maintaining exposure to the underlying assets.

Source: BitcoinTreasuries.NET

Key Takeaways

• MicroStrategy’s Lead Persists: Holding 640,808 BTC, it commands 60% of corporate treasuries, guiding institutional adoption trends.
• Slowed Accumulation Signals Maturity: October’s 14,447 BTC addition reflects cautious yet committed corporate strategies amid market stability.
• Altcoin Diversification Grows: ETH’s treasury share rising to 15% offers staking yields, enhancing returns for proof-of-stake focused firms.

Conclusion

In summary, MicroStrategy’s Bitcoin holdings continue to anchor corporate treasuries at 640,808 BTC, even as dominance wanes to 60% due to rising competition and slower buys in October 2025. Trends like increased altcoin integration, especially Ether treasury growth to 15% of values, highlight a diversifying landscape per BitcoinTreasuries.NET insights. As more entities join—reaching 353 globally—corporate adoption strengthens Bitcoin’s illiquid supply, promising sustained network security. Investors should monitor these shifts for opportunities in a maturing crypto ecosystem.