Over 160 publicly listed companies have integrated Bitcoin into their treasury strategies, collectively holding nearly 1 million BTC, which represents about 4% of the total circulating supply. These firms have adopted Bitcoin to raise capital and provide partial equity exposure to the cryptocurrency through listed vehicles. Many of these companies have achieved market capitalizations exceeding their net asset value multiples. Looking ahead, these companies may explore generating yield from their Bitcoin holdings, responsibly using leverage, or developing complementary business models to enhance their financial strategies.