Institutional Appetite for Bitcoin Reaches Critical Milestone: 1 Million BTC Now in Corporate Vaults

Corporate entities have crossed a historic threshold, accumulating over 1 million Bitcoin across their treasuries—a development that signals sustained institutional confidence in digital assets as financial reserves. According to BitcoinTreasuries.NET data, these holdings represent approximately $88 billion in value at current market rates, marking a pivotal moment in Bitcoin adoption beyond retail investors.

The Scale of Institutional Accumulation

The rush into Bitcoin treasuries began in earnest after August 2020, with Michael Saylor’s firm establishing the template for corporate Bitcoin strategies. What started as a maverick move has since inspired 184 additional public companies to build their own Bitcoin positions. The largest holder maintains 636,505 BTC in reserves, while mining-focused operators like MARA Holdings rank second with 52,477 BTC—demonstrating that accumulation strategies vary across different business models.

The significance lies not just in volume but in what it reveals about supply dynamics. With only 5.2% of total Bitcoin remaining outside the hands of major institutional players, the market is reaching a state of relative scarcity at scale. This concentration trend raises questions about future price discovery mechanics as new capital continues competing for available coins.

Competing Claims on Bitcoin’s 21 Million Supply

The institutional battle for Bitcoin reserves intensifies when examining explicit accumulation targets. Metaplanet has announced intentions to secure 210,000 BTC by 2027—roughly 21 times its current holdings. Similarly, Semler Scientific projects acquiring 105,000 BTC over the same period. These aggressive expansion plans underscore the degree to which companies view Bitcoin as a strategic asset worthy of multi-billion dollar capital commitments.

Simultaneously, crypto exchanges and ETF platforms control 1.62 million BTC, government treasuries hold 526,363 BTC, and private enterprises maintain 295,015 BTC. Individual holders still command roughly 16.2 million BTC, but the trajectory clearly favors institutional consolidation.

Ethereum’s Emerging Role in Treasury Strategy

While Bitcoin dominates corporate attention, Ethereum has begun appearing in institutional treasure chests. ETH’s variable supply mechanics contrast sharply with Bitcoin’s fixed 21 million coin ceiling, yet its staking infrastructure and application ecosystem attract treasury managers seeking diversification. ETH market capitalization currently stands at $359.17 billion, substantially below Bitcoin’s $1.76 trillion valuation, yet its growing institutional presence through ETF vehicles cannot be ignored.

Recent ETF flows totaling nearly $4 billion over the past month reflect growing appetite for Ethereum among Wall Street investors, though Bitcoin ETF adoption maintains its commanding lead.

Technical Picture: Profit Conditions Normalizing

Bitcoin trades near $88,040, having posted a 3.29% gain over the preceding 24-hour window. Glassnode analytics reveal that roughly 90% of the total Bitcoin supply now resides in profitable positions, residing between the cost basis thresholds of $104,100 and $114,300. This represents a normalization from earlier conditions when 95% of supply turned profitable following the mid-August rally.

The sustainability of price levels at this juncture requires consistent capital deployment to offset profit-taking pressure—a dynamic that historically proves difficult to maintain indefinitely. The market’s ability to absorb sell-side pressure while preserving price foundations will likely determine whether institutional accumulation narratives continue supporting valuations.