TLDR
- MicroStrategy (Strategy) leads with 660,624 BTC valued at $62 billion.
- Forward Industries establishes itself as the largest Solana (SOL) treasury globally.
- BitMine Immersion Technologies holds the largest public Ethereum reserve, with 3.8 million ETH.
This 2025 will be remembered as the year when the crypto treasury ceased to be an experiment and formally transformed into a corporate policy. Leading this movement is Michael Saylor and his company, Strategy; based on his experience, other firms have replicated his large-scale digital asset accumulation strategy.
By late 2025, Saylor’s company reports more than 660,000 BTC, financed through an aggressive strategy of debt and equity issuance, raising its market value exponentially. Notably, this phenomenon is not limited to Bitcoin. The market has witnessed how firms from various sectors use formal capital-raising channels to build reserves in alternative assets, diversifying their balance sheets in the face of global economic uncertainty.
The Rise of Ethereum and Solana Treasuries
As the ecosystem matures, the crypto treasury is expanding toward large-cap altcoins. Forward Industries (FORD) marked a milestone in September by pivoting from medical devices to become the largest corporate holder of Solana (SOL), with a reserve exceeding 6.9 million tokens.
This move was backed by giants such as Galaxy Digital and Jump Crypto, demonstrating institutional interest in high-performance networks.
In the Ethereum segment, BitMine Immersion Technologies (BMNR) is taking the lead. Taking advantage of market corrections in October, the company aggressively accumulated until reaching 3.8 million ETH, a reserve valued at over $12 billion.
Meanwhile, companies like Metaplanet in Japan, dubbed the “MicroStrategy of Asia,” have set ambitious goals to own 1% of the total Bitcoin supply in the coming years.
Industry experts point out that this trend is now structural. The combination of new fair-value accounting rules and the liquidity provided by ETFs eliminates barriers for Chief Financial Officers (CFOs).
With “FOMO” reaching boardrooms, 2026 is expected to further consolidate the adoption of digital assets as a store of value against fiat currencies.
