Abstract: A multifunctional holder for power tool bits has a belt with a buckle or equivalent which has one or more bit carriers attached to the belt. Bits can be snapped or slid or otherwise moved on and off the bit carriers. The holder's belt is wrapped around the battery pack, if the power tool has one, or else the base of the handle, and tightened by use of the buckle to hold it in place. The bit holder of the invention is useful for power tool users who need multiple bits to perform jobs, particularly when they cannot keep containers of bits nearby while working.