What is the difference between Bullish and TON Strategy Co?

Bullish and TON Strategy Co hold different amounts of Bitcoin in their treasuries. Bullish holds more BTC. Compare their total holdings, valuation, and treasury strategies.

Which entity holds more Bitcoin: Bullish or TON Strategy Co?

Bullish holds more Bitcoin in their treasury with approximately 23,800 BTC compared to TON Strategy Co with 0 BTC. Compare their treasury values and investment strategies.

Compare treasury holdings of Bullish and TON Strategy Co

Institutional crypto holdings — total value and allocation side by side.

Treasury A

Treasury B

	Bullish	TON Strategy Co
Total holdings	$1.96B	$274.64M
Type	Company	Company
Assets held	2 assets	1 assets

Holdings overview

BTC exposure and entity metadata.

	Bullish	TON Strategy Co
Bitcoin holdings	23,800 BTC	0.00 BTC
Country	US	US
Recorded transactions	11	2

View Bullish View TON Strategy Co

Portfolio breakdown

Holdings amounts, values, and allocation percentages in one view.

Asset	Bullish	TON Strategy Co
Bitcoin BTC	23,800.00 $1.93B · 98.6%	—
Ethereum ETH	11,600.00 $27.38M · 1.4%	—
The-open-network GRAM	—	219,709,826.00 $274.64M · 100.0%

Amount, USD value, and portfolio weight per asset.

Recent transactions

Latest buys, sells, and balance changes — same layout as treasury detail pages.

Bullish

Date	Asset	Type	Amount	Value (USD)	Source
2026-06-30	Ethereum	SELL	-3,300.0000	$0	Source
2026-06-30	Bitcoin	BUY	100.0000	$0	Source
2026-03-31	Bitcoin	BUY	400.0000	$0	Source
2026-03-31	Ethereum	BUY	700.0000	$0	Source
2025-12-31	Bitcoin	SELL	-1,100.0000	$0	Source
2025-12-31	Ethereum	SELL	-7,100.0000	$0	Source
2025-09-30	Ethereum	BUY	8,700.0000	$0	Source
2025-09-30	Bitcoin	BUY	100.0000	$0	Source

TON Strategy Co

Date	Asset	Type	Amount	Value (USD)	Source
2025-12-31	Gram (prev. Toncoin)	BUY	2,209,826.0000	$17,740,000	Source
2025-08-21	—	BUY	217,500,000.0000	$713,000,000	Source

Frequently asked questions

Answers about these treasuries and how holdings are calculated.

What is Bullish?

Bullish is an entity (company, institution, or government) that holds cryptocurrency as part of its treasury reserves or investment strategy.

What is TON Strategy Co?

TON Strategy Co is an entity (company, institution, or government) that holds cryptocurrency as part of its treasury reserves or investment strategy.

Why do companies hold Bitcoin in treasury?

Companies hold Bitcoin for various reasons: as a hedge against inflation, to diversify treasury reserves, for potential appreciation, or as part of their business strategy.

How are treasury holdings tracked?

Treasury holdings are tracked through public disclosures, SEC filings, press releases, and blockchain analytics. Public companies must disclose material holdings.

How is total holdings value calculated?

Total holdings value is calculated by multiplying the amount of cryptocurrency held by its current market price. Values update in real-time based on market prices.