Strategy Firm Now Holds Bitcoin Worth More Than Major Banks and Entire Nations

Michael Saylor’s digital asset treasury firm, Strategy, has reached an unprecedented milestone, with its Bitcoin holdings now valued at $77.4 billion — a sum greater than the market capitalization of several leading banks and on par with the gross domestic product of some countries.

Saylor reflected on the firm’s journey during a Thursday announcement: “Our journey began with $0.25 billion in Bitcoin — and an immediate $0.04 billion unrealized loss.” Since then, Strategy has steadily built its Bitcoin position, nearly doubling its valuation from 2024. The recent surge comes as Bitcoin reclaimed the $120,000 mark, though still trading 3% below its record high in mid-August.

Over the past seven weeks, Strategy added 11,085 BTC to its balance sheet, including a modest 196 BTC purchase on Monday. The firm now controls 640,031 BTC, representing about 3.2% of Bitcoin’s total circulating supply.

Outpacing Banks and Matching Nations

The scale of Strategy’s Bitcoin treasury now eclipses the market cap of global banking giants such as BNY Mellon, Sberbank, US Bancorp, CIBC, ING, Barclays, Deutsche Bank, ANZ Bank, and Lloyds.

At current valuations, the firm’s stash is comparable to the GDP of Uruguay, Sri Lanka, or Slovenia, meaning the Bitcoin pile is worth as much as the entire annual economic output of those nations. To put it another way, $77 billion could buy over 2.5 million cars at $30,000 each or 385,000 houses priced at $200,000.

By comparison, the next largest digital asset treasury, MARA Holdings, manages 52,477 BTC valued at about $6.3 billion. This is just a fraction of Strategy’s enormous lead.

Strategy Dominates Global Bitcoin Treasuries

The broader pool of Bitcoin held by companies currently stands at 1.32 million BTC, or roughly 6.6% of Bitcoin’s circulating supply, worth an estimated $159 billion, according to BitcoinTreasuries.NET. Of that total, Strategy alone accounts for nearly half, with 48% of all corporate and institutional holdings.

Meanwhile, the largest nation-state Bitcoin treasury belongs to El Salvador, which holds 6,338 BTC valued at about $762.5 million. That figure remains slightly below its August all-time high, with the country continuing its strategy of accumulating one BTC per day.

While nation-states and companies alike jockey for Bitcoin exposure, Strategy has cemented its role as the dominant player, effectively becoming the “800-pound gorilla” of digital asset treasuries — with holdings that rival both Wall Street institutions and entire economies.