5 Best Bitcoin Treasury Stocks

Bitcoin treasury companies offer some of the best opportunities to invest in stocks with Bitcoin on their balance sheets.

According to Michael Saylor, there were only publicly traded BTC treasury companies in 2020. Now in 2025, there are over 160 companies on the Bitcoin Standard.

In the beginning, most investors focused on MSTR or MARA because options were limited. As more companies adopted the Bitcoin standard, the list began to grow.

That's why we are covering the best BTC treasury stocks to invest in 2025.

Strategy (NASDAQ: MSTR)

Strategy is the first Bitcoin treasury company that add BTC to its balance sheet in August 2020.

MSTR has 10x more Bitcoin than its nearest competitor (MARA) and could enter the S&P 500 as early as September 2025.

MARA (NASDAQ: MARA)

MARA Holdings is the 2nd largest corporate holder of Bitcoin behind MSTR. MARA mines the majority of BTC plus uses the Saylor ATM strategy to boost its Bitcoin holdings.

MARA shares are heavily shorted with a high 27% Short interest so many people are looking forward to a short squeeze during the Q4 2025 Bitcoin bull run.

The only concern is that the Bitcoin halving cuts the Bitcoin block reward every 4 years so MARA's mining revenue may decline over the long run. The company plans to counter reduced block rewards by earning more on transaction fees.

Dilution has kept MARA shares depressed for a long time but a massive breakout could occur if the shorts get squeezed.

CEP/XXI

Led by Jack Maulers, XXI will become one of the largest Bitcoin treasury companies once the CEP merger closes later this year.

SMLR

Semler Scientific adopted a Bitcoin treasury strategy in May 2024 and hired Joe Burnett, a Youtube influencer, to help the company reach the goal of 100,000 BTC on its balance sheet.

ASST

Risk Factors

Bitcoin treasury stocks carry several risk factors that could deter investors from buying these stocks. Some investors prefer to invest in BTC directly to avoid paying the mNAV premium.