Bitcoin (CRYPTO: BTC) reigns supreme as the leading asset in treasury allocations. However, its younger sibling Ethereum (CRYPTO: ETH) has lately emerged as a stronger contender in the race.
Led by Michael Saylor, Strategy is the pioneering and largest cryptocurrency treasury company in the world, with over $69 billion worth of Bitcoin in its reserves, according to CoinGecko.
Leading Bitcoin mining companies such as MARA Holdings and Riot Platforms have followed suit, accumulating $5.57 billion and $2.11 billion in BTC reserves, respectively.
Trump Media, majority owned by President Donald Trump, has also jumped on the bandwagon, with its current reserves topping the $2-billion mark.
As of this writing, a total of 1,000,936 BTC were in the corporate coffers of public companies, valued at $110.25 billion, cornering 4.77% of the total supply.
Top BTC Treasury Companies | Total BTC Held | Total Value In USD | Top ETH Treasury Companies | Total ETH Held | Total Value In USD |
Strategy Inc. (NASDAQ:MSTR) | 632,457 | $69.66 Billion | BitMine Immersion Technologies Inc. (AMEX:BMNR) | 1,713,899 | $7.59 Billion |
MARA Holdings Inc. (NASDAQ:MARA) | 50,639 | $5.57 Billion | Sharplink Gaming Inc. (NASDAQ:SBET) | 740,760 | $3.2 Billion |
Bullish (NYSE:BLSH) | 24,000 | $2.64 Billion | Bit Digital Inc. (NASDAQ:BTBT) | 120,306 | $0.53 Billion |
Riot Platforms Inc. (NASDAQ:RIOT) | 19,239 | $2.11 Billion | Ethzilla Corp. (NASDAQ:ETHZ) | 102,237 | $0.45 Billion |
Trump Media & Technology Group Corp. (NASDAQ:DJT) | 18,430 | $2.03 Billion | BTCS Inc. (NASDAQ:BTCS) | 70,140 | $0.31 Billion |
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The Ethereum treasury play was slow to catch on, but it has gained massive momentum in the last two months. Several small-cap companies have adopted ETH as their primary reserve asset.
BitMine Immersion Technologies, under the leadership of leading Wall Street strategist Tom Lee, has rapidly become the largest Ethereum treasury company, and the second-largest cryptocurrency treasury after Strategy, with a stash exceeding $7.50 billion.
Seasoned investors like Cathie Wood and Peter Thiel have acquired significant stakes in the firm.
Sharplink Gaming had $3.2 billion in ETH reserves, while the newly-branded ETHZilla — also backed by Thiel — had more than $450 million.
The total ETH held by public companies stood at 2,984,248, worth $13.22 billion, accounting for 2.7% of the total coins in circulation. This is roughly 12% of the total BTCs held in treasury reserves.
