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It may be difficult to keep your Bitcoin holdings in the bear market. So far, the currency decreased by over 74% from its last All-Time High (ATH). It briefly lost its floor at $20,000 as well, and some analysts are still waiting for $15,000 per coin. No good news, but there still are strong hands. We have numerous companies stacking Bitcoin to the future from now.

Of course, among the richest Bitcoin addresses, we mainly count crypto exchanges. But we’ll talk here about companies that don’t need to have Bitcoin on their reserves, and yet, they have it. Indeed, they have a lot of coins. Just because they want to, and they’re patiently waiting for bullish times.


Let’s discover how much BTCs are stashed by them, according to Bitcoin Treasuries.

Aker Solutions

In March 2021, the Norwegian energetic giant Aker Solutions announced the creation of Seetee, a new crypto-focused subsidiary. They invested around 10% of their capital in this project, and they bought around 1,170 BTC as a long-term investment. At the time, the price was around $50,000 per coin, so, they put at least $58.5 million.

Despite the obvious decrease, Seetee still believes that “Bear markets are for builders” and “bitcoin has been in a bull market since block zero”. On their webpage, they mentioned the 1,170 BTC as their “first purchase”, which may imply that they’re planning to buy more in the future (or already did it).


They resist since their strategy “is to hodl”. In the meantime, they’re also investing in other crypto projects and Bitcoin companies. They seem especially interested in the ones related to sustainable Proof-of-Work (PoW) mining. As a part of an energy company, it wouldn’t be a surprise if they also decide to mine Bitcoin or propose new systems to do it.


Nexon Co. Ltd. is an Asian video games giant, with over 80 popular titles and virtual worlds. It was born in South Korea in 1994 and moved to Japan in 2005. Among their works, we can count Dark Ages, MapleStory, and Blue Archive. They don’t accept Bitcoin as a payment method but decided to buy it as a corporate asset in April 2021.

Preview of MapleStory. The game will have their own NFTs. Source: Nexon

They acquired 1,717 BTC for approximately $100 million, at around $58,200 per coin. The non-realized losses have been sharp, but they’re still holding. Owen Mahoney, CEO of Nexon, explained in the announcement:

“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets (…) In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.”

We now have short-term volatility, but they’re not fazed by it. Indeed, Nexon is preparing a new series of MapleStory to include Non-Fungible Tokens (NFTs). The users will be able to buy and sell in-game objects and avatars by using blockchain technology.

Block Inc. (Square)

This one is more aligned with Bitcoin companies. Block Inc. since December 2021 (previously Square Inc.) is an American digital payments firm. Among their products and apps are the homonymous Square, Cash App, Afterpay, and even the music streaming service Tidal. The company was founded in 2009 by Jack Dorsey, the same Twitter founder.

Jack Dorsey in 2012. Source: Kevin Krejci / Flickr

Dorsey is, by the way, a known Bitcoin maximalist. He was the Twitter CEO until November 2021 but now is dedicated completely to the payments industry. Block Inc. is even developing a “Web5” with Bitcoin as the foundation for identity management. Accordingly, the company has its own stash of Bitcoin.

They first bought $50 million in October 2020, and later $170 million in February 2021. So, they still own 8,027 BTC. Amrita Ahuja, Block Chief Financial Officer, admitted that they suffered some losses from it due to the price drop. Therefore, they’re not planning to buy more for now, but they’re not selling it either.

Tesla Inc.

Another one that’s not inside the Bitcoin companies. Famous enough, Tesla is an American electric vehicle and clean energy brand (formerly Tesla Motors). Its founder and current CEO, Elon Musk, is also renowned for his other ventures: the spacecraft manufacturer SpaceX, the neurotechnology developer Neuralink, and the AI research laboratory OpenAI. Musk is very known on Twitter for his opinions about the cryptocurrency world as well.

After a while of messing around with the topic on social media, it was revealed that Tesla Inc. finally bought $1.5 billion in Bitcoin in January 2021 —at $34,000 per coin. They still own around 43,200 BTC, despite the price drop. In addition, Musk has declared that he still owns and won’t sell his crypto holdings.

On the other hand, Tesla accepted Bitcoin as a payment method for a while. They stopped due to environmental concerns in May 2021, but promised to retake once “there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend”. Currently, there are several green initiatives around Bitcoin mining to make this possible.


Of the companies in the list, this is the older (33 years) and the one with more Bitcoin holdings. As you may imagine, MicroStrategy isn’t a crypto company itself. They offer business intelligence, mobile software, and cloud-based services. It’s headquartered in Virginia, United States, and it’s currently led by its founder, Michael Saylor.

He was a great promoter to buy bitcoins with their corporate treasure. The company first bought 21,454 BTC for $250 million in August 2020 —at around $11,600 per coin. By then, Saylor commented about it:

“This investment reflects our belief that bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”

Their conviction was strong because they didn’t stop buying Bitcoin since then. In fact, by the end of June 2022, they bought the dip with another 480 BTC for $10 million. They’re currently holding 129,699 BTC acquired for $3.98 billion. And they’ve declared that they’ll stand volatility without selling any of it.

Unknown whales or more companies with Bitcoin?

Of course, we can’t know all the whales (the richest BTC owners) out there. Some of them, like the ones we already saw, have decided to make public their purchases and names. A lot of others don’t do that. They just own their giant amounts of coins silently, and we only know about them because the Bitcoin blockchain is transparent. This means that we can know the richest addresses and quantitative-related data, but not the names behind them.


According to BitInfoCharts, there are only five addresses surpassing 100,000 BTC. Four of them belong to crypto exchanges, but there’s an anonymous one. It owns over 132,882 BTC (currently, $2.7 billion). It’s active, with 766 transactions and the last one on July 13, 2022. It could perfectly be from a company.

Other 2,164 addresses own between 1,000 BTC and 100,000 BTC. Most of them are anonymous and, curiously, most of them have recent transactions. They can be individuals, but they can also be companies handling great amounts of Bitcoin. Even during the bear market. So, it’s probably time to hodl too.

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I'm a literature professional in the crypto world since 2016. It doesn't sound very compatible, but I've been learning and teaching about blockchain and cryptos for international portals since then. After hundreds of articles and diverse content about the topic, now you can find me here on Alfacash, working for more decentralization.

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