The crypto treasury landscape is shifting dramatically. Across 368 entities globally, cumulative crypto holdings now surpass $185 billion—a milestone that reflects serious institutional commitment. What's striking? Companies dominate the picture, accounting for 73% of these reserves. But governments aren't sitting on the sidelines either—they're holding over a quarter of total crypto treasuries, signaling an emerging consensus around digital asset legitimacy. This distribution tells you something crucial: crypto adoption isn't just a corporate play anymore. When sovereign entities park significant capital in digital assets, it signals a structural shift in how traditional finance relates to decentralized systems. Whether it's treasury diversification or strategic positioning, the numbers reveal that cryptocurrency holdings have moved from fringe to mainstream in institutional portfolios.