2425: Trump Media Just Passed Tesla In Bitcoin Holdings - An $890M Treasury Shift

Trump Media has moved ahead of Tesla in reported Bitcoin holdings after disclosing approximately 14,139 BTC as of July 31, including pledged coins, worth roughly $890 million. Tesla holds 11,509 BTC, marking another major shift in the corporate Bitcoin treasury leaderboard.

We break down Trump Media's continued accumulation, the massive Bitcoin positions already controlled by Strategy, public companies, U.S. spot Bitcoin ETFs and governments, and why corporate competition for BTC could intensify as more balance sheets enter the market. The leaderboard can keep changing, but Bitcoin's maximum supply remains fixed at 21 million.

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