Institutional Bitcoin Holdings Surge to $428B in July – Led by Strategy and S&P 500 Momentum

Corporate appetite for Bitcoin hit new highs in July. A mix of tech firms, ETFs, and Wall Street funds pushed BTC adoption further into the mainstream, as a growing number of institutions view crypto as a viable treasury asset.

• Tracked institutions added 166,000 BTC in July, bringing total holdings to 3.64M BTC (~$428B).
• Public-company Bitcoin holdings have surged 170% year-over-year.
• Strategy led with 31,466 BTC purchased, now holding over 628,000 BTC.
• Coinbase re-entered the top 10 with a 2,509 BTC acquisition.
• A survey shows nearly 50% of institutional investors expect 10%+ of S&P 500 companies to hold BTC soon.

Inside July’s Institutional Buying Frenzy

Bitcoin saw a massive institutional buying spree in July, according to Bitcoin Treasuries’ latest monthly report. Over 166,000 BTC was added by tracked entities, including publicly listed firms and crypto funds, raising total holdings to 3.64 million BTC, valued at $428 billion by the end of the month.

Public and private companies were responsible for nearly two-thirds of these additions, totaling 107,082 BTC. The rest came primarily from ETFs and other structured investment vehicles.

Leading the charge was Michael Saylor’s firm, Strategy, which disclosed three separate purchases totaling 31,466 BTC. This brought its total holdings to 628,791 BTC, cementing its position as the largest corporate holder of Bitcoin. The purchases were partly financed by a $2.5 billion preferred stock offering, underscoring growing investor confidence in BTC-backed corporate finance.

Other notable movers included Bitcoin Standard Treasury Company, which revealed a 30,021 BTC balance, and Trump Media & Technology Group with 18,430 BTC following a capital raise. Coinbase, after acquiring 2,509 BTC in Q2, returned to the top 10 public holders list with a total of 11,776 BTC.

While private firms and funds were actively accumulating, government wallets remained relatively quiet. The United States added a modest 10 BTC, El Salvador picked up 33 BTC, and Bhutan was a net seller, reducing its position by 776 BTC through a mix of sales and buybacks.

Beyond Bitcoin, Ethereum, and Solana treasuries are gaining traction. The report notes over $10 billion held in ETH and around $554 million in SOL across corporate accounts, indicating that companies are beginning to diversify their crypto treasury strategies beyond BTC.

Strategic metrics such as market NAV and satoshis-per-share are also being closely tracked by analysts. Strategy stood out again by adding the most satoshis per share in July, driven by its aggressive yet capital-efficient BTC accumulation model. Analysts noted that the firm’s NAV premium remains justified due to access to low-interest debt and ongoing share issuance tied to BTC.

Final Thought

With institutional adoption gaining pace and policy conditions in the U.S. becoming more favorable, Bitcoin is transitioning from a speculative asset to a corporate treasury mainstay. The 170% annual increase in public-company BTC holdings and supportive investor sentiment — reflected in surveys showing strong backing for crypto-treasury adoption — suggest this trend is just beginning. As more S&P 500 firms consider adding Bitcoin to their balance sheets, crypto could soon become a fixture in traditional finance.