BSTR's $1.9 Billion 'Bitcoin Reserve' Masks Promised Contributions

A $1.9 billion 'Bitcoin reserve' held by Bitcoin Standard Treasury Company (BSTR) has been ranked fifth among public companies despite not actually owning any coins, according to data from CryptoSlate's BitcoinTreasuries tracker.

The tracker shows BSTR holding 30,021 BTC, worth around $1.9 billion, but the SEC filings describe these coins as 'closing-dependent contributions' rather than completed corporate holdings.

This means that the coins have not yet been transferred to BSTR and may still be held by the original owners or investors.