Bitcoin treasuries added 51K BTC in May amidst SpaceX's 18K BTC reveal

Public Bitcoin treasuries saw strong growth in May as they added or disclosed 51,000 BTC before holding reductions ($3.8B), or 43,500 BTC net after reductions ($3.2B).

Strategy once again led monthly buying as it acquired 25,404 BTC in May. Though that’s less than half of its April purchases, Strategy dominates the sector with more than two-thirds of overall holdings and room to raise billions in ATM proceeds for future buying.

Meanwhile, Elon Musk’s SpaceX reported holding 18,712 BTC — May’s second-largest number, making up one-third of the month’s growth prior to sales.* We expect to add SpaceX to our public companies leaderboard at #7 on its anticipated June 12 IPO date.

Other public companies added or disclosed about 6,900 BTC this month, according to our calculations. Notable updates:

• Strive added 1,943 BTC across four disclosures in May while raising significant proceeds through ATM sales of its SATA digital credit

• Coinbase increased holdings by 1,103 BTC over the quarter

• Apimeds Pharmaceuticals disclosed 1,000 BTC and was newly added to our site**

• BitGo increased its holdings by 776 BTC in Q1 2026**

• American Bitcoin increased its holdings by 500 BTC in May

Sales and holding reductions cut public company balances by about 7,500 BTC in May. The largest reduction we calculated this month was for MARA Holdings, whose latest quarterly filing reported holdings 3,386 BTC lower than our estimate after its March sale.

Other notable reductions include Core Scientific (-1,990 BTC)**, Sequans Communications (-1,481 BTC), and Prenetics (-502 BTC, reducing its holdings to zero).

Additionally, Strategy disclosed in a June 1 filing the sale of 32 BTC between May 26 and May 30. This will be included in next month's totals due to the filing date.

As of May 31, 2026, BitcoinTreasuries.net now records:

• Public company holdings above 1.2 million BTC

• Nearly 4.2 million BTC across all categories

• A valuation above $91 billion for public company holdings alone

BitcoinTreasuries.net continues to analyse holding changes and sector trends in our monthly report. Our April Corporate Adoption Report focused on Strategy’s record-breaking STRC volumes and ATM sales throughout April as well as growth in Bitcoin ETF holdings.

We’re set to publish our May report in the coming weeks, focused on the continued rise of STRC, growth in Strive’s SATA digital credit offering, altcoin treasury trends, and more.

Sign up to be among the first notified of the release.

Notes

*SpaceX’s addition will increase the total holdings in our publicly-traded treasury category by the full disclosure amount (+18,712). However, this will increase our site-wide holdings by just 10,427 BTC because we previously recorded SpaceX as a private company with estimated holdings of 8,285 BTC based on Arkham Intelligence data.

** This is the second month of a methodology change in which we include newly submitted but backdated entries in our monthly buying recap. Critically, this means that three large changes — Apimeds (+1,000 BTC), BitGo (+776 BTC), and Core Scientific (-1,990 BTC) — are included in the above overview and may not have been included under the previous method. This method has not been retroactively applied to past monthly totals in the header chart.