Top 5 Public Companies Buying Crypto in 2025 – Indirect Exposure, Big Bets

Why Are Publicly Listed Companies Buying Crypto?

Over the past few years, cryptocurrencies have evolved from speculative assets into strategic investments. Publicly traded companies are increasingly allocating portions of their balance sheets to crypto—especially Bitcoin—as a hedge against inflation, a bet on digital transformation, or to diversify reserves.

Others are opting for indirect exposure through crypto ETFs or trust funds, allowing them to tap into the upside of digital assets without dealing with wallets, security, or custody concerns. With growing regulatory clarity and institutional-grade products available, more boardrooms are embracing the crypto thesis.

Total Crypto Market Cap in USD over the last 5 years - TradingView

Which Cryptocurrencies Are They Buying?

The majority of public companies with crypto exposure focus on Bitcoin (BTC) due to its liquidity, scarcity, and market dominance. Some have added Ethereum (ETH), particularly those interested in decentralised finance (DeFi) or smart contract platforms.

Indirect exposure may also include baskets of assets via products like Grayscale Bitcoin Trust (GBTC) or BlackRock’s iShares Bitcoin ETF (IBIT), which hold BTC and mirror its performance.

How Do Companies Gain Crypto Exposure?

There are three main methods:

• Direct purchases of Bitcoin or Ethereum, often held in cold wallets or via custodial services.
• Investment in ETFs or trust products that track crypto asset prices.
• Strategic partnerships or investments in crypto-native companies.

The choice often depends on a company’s risk tolerance, regulatory environment, and treasury policies.

Top 5 Publicly Listed Companies Buying Crypto

1. MicroStrategy (MSTR)

• Exposure Type: Direct Bitcoin holdings
• Crypto Holdings: 226,331 BTC (as of July 2025)

MicroStrategy remains the largest publicly listed holder of Bitcoin. Led by Michael Saylor, the company continuously accumulates BTC as a core treasury asset. Its entire corporate strategy revolves around long-term Bitcoin adoption.

2. Tesla (TSLA)

• Exposure Type: Direct Bitcoin holdings
• Crypto Holdings: ~10,725 BTC

Tesla shocked markets in 2021 with a $1.5B BTC buy. While the company has sold portions since, it still holds significant amounts of Bitcoin and occasionally accepts crypto for payments depending on local regulations.

3. Coinbase (COIN)

• Exposure Type: Direct + operational exposure
• Crypto Holdings: Over $1B in various assets

As the largest US-based crypto exchange, Coinbase not only holds crypto for operational liquidity but also invests in its ecosystem. It benefits directly from crypto adoption via trading volume and custody services.

4. BlackRock (BLK)

• Exposure Type: Bitcoin ETF (IBIT), institutional offerings
• Crypto Holdings: Indirect via ETF

In 2024, BlackRock launched the iShares Bitcoin ETF (IBIT), and by mid-2025, it became one of the most traded ETFs globally. BlackRock is actively pushing institutional access to crypto, holding billions in BTC across its ETF and client-facing products.

5. Block, Inc. (SQ)

• Exposure Type: Direct BTC + retail exposure via Cash App
• Crypto Holdings: ~8,000 BTC

Formerly known as Square, Block integrates Bitcoin buying, selling, and transfers into its Cash App, making it a major retail on-ramp. It also holds BTC on its balance sheet and funds Bitcoin ecosystem development.

Corporate Demand Could Fuel the Next Crypto Rally

As more publicly traded companies accumulate crypto or launch products around it, the narrative around digital assets continues to shift toward legitimacy and long-term utility. This isn’t just a tech trend—it’s a financial evolution. With major institutions still buying at high levels, and ETFs simplifying access for everyone, crypto prices are poised to continue their upward trajectory. The supply is limited—but the demand is only growing.

$BTC, $Bitcoin, $ETH, $Ethereum