Publicly traded companies significantly increased their Bitcoin holdings during the first quarter of 2025, according to crypto fund issuer Bitwise.
Total Bitcoin holdings among public firms rose by 16.1%, with companies collectively adding 95,431 BTC to reach approximately 688,000 BTC by the end of March. The combined value of these corporate Bitcoin holdings reached $56.7 billion, representing a 2.2% increase during the quarter, based on a Bitcoin price of $82,445.
Notably, the number of public companies holding Bitcoin on their balance sheets expanded to 79, with 12 firms making their first Bitcoin purchases during Q1.
Major Bitcoin Buyers
Hong Kong construction firm Ming Shing emerged as the quarter’s largest first-time Bitcoin buyer. Through its subsidiary Lead Benefit, the company acquired 833 BTC in two separate transactions—an initial purchase of 500 BTC in January followed by an additional 333 BTC in February.
Rumble, the alternative video platform popular with right-wing audiences, ranked as the second-largest new entrant, purchasing 188 BTC in mid-March. In a particularly striking case, Hong Kong investment firm HK Asia Holdings Limited saw its share price nearly double in a single trading day after announcing the purchase of just one Bitcoin in February.
Japanese investment firm Metaplanet continued expanding its Bitcoin position, announcing on April 14 that it had purchased an additional 319 Bitcoin at an average price of 11.8 million yen ($82,770) per coin.
This acquisition brings Metaplanet’s total holdings to 4,525 Bitcoin, currently valued at approximately $383.2 million. The company has invested nearly $406 million (58.145 billion yen) in assembling its Bitcoin portfolio.
This latest purchase solidifies Metaplanet’s position as the tenth-largest public company Bitcoin holder globally. The firm now trails Jack Dorsey’s Block, Inc., which holds 8,485 BTC according to data from Coinkite.
Metaplanet’s stock (3350) closed up 3.71% on April 14 on the Tokyo Stock Exchange but was down 0.5% by the April 15 lunch break, according to Google Finance.
Bitcoin is currently trading around $84,440 and has remained relatively stable over the past 24 hours, according to CoinGecko data.
The cryptocurrency has gained approximately 2.3% since the end of Q1 on March 31, recovering from a dip below $75,000 on April 7. That temporary decline came amid a broader market downturn triggered by a new round of global tariffs imposed by the United States.
The continued accumulation of Bitcoin by public companies reflects growing institutional acceptance of cryptocurrencies as a legitimate asset class for corporate treasuries, despite ongoing market volatility and regulatory uncertainties.
Bitcoin as Safe-Haven?
Bitcoin appears to be reinstating its status as “digital gold” these days due to the emergence of safe-haven flows from global trade uncertainties. Inconsistent policy announcements regarding higher US tariffs on trade partners and exemptions appear to be driving traders away from USD-denominated assets, including stocks and bonds.
As a result, investors are on the lookout for an alternative store of value that could still provide high returns with less exposure to economic risks, given how odds of a recession appear to be on the rise lately. Many have warned of a potential global meltdown worse than that of the 2020 pandemic, as major supply chains face disruption risks on account of tit-for-tat tariffs between the US and China.
