Since Microstrategy switched most of its treasury reserves to Bitcoin, a large number of companies have followed the company’s lead. According to the web portal bitcointreasuries.org, data shows that there are now 42 companies on the list and that the companies hold Bitcoin worth more than 65 billion US dollars.
Companies’ Bitcoin stash – 6.43% of the 21 million capped supply
It has become a trend to add Bitcoin (BTC) on a company’s balance sheet and Microstrategy cited the trend when the company bought $ 250 million worth of BTC. Since then, a large number of companies have followed and BTCThe value has also skyrocketed.
For example, at the end of 2020, 29 companies held around 1.1 million bitcoin, valued at more than $ 30 billion at exchange rates on December 28th. In addition, the 29 companies at the time owned 5.48% of the total 21 million BTC deliver.
As of March 1, 2021, the companies are valued at $ 65 billion BTC / USD exchange values on Monday afternoon (EST). The companies hold a massive 1,350,073 BTC or 6.43% of the maximum offer of 21 million. Since adding 13 more companies to bitcointreasuries.org’s list, there have been a number of new entrants.
Companies, trusts and hedge funds such as Tesla, Inc., MOGO Financing, Osprey Bitcoin Trust, Evolve Bitcoin ETF, Ninepoint Bitcoin Trust and more have been added to the list. The biggest holder on the list is, of course, Grayscale at 649,130 BTC or 3.09% of the 21 million delivery cap. In fact, grayscale is massive BTC The hoard makes up almost half of bitcointreasuries.org’s total Bitcoin balance sheets.
The private company called “MTGOX KK” holds the second largest amount of BTC with 141,686 BTC. Behind the Mt Gox supply is the Block.one treasury with 140,000 residents BTC today valued at $ 6.7 billion.
Microstrategy is the fourth largest publicly traded owner and is continuously working on six-digit Bitcoin holdings with 90,859 BTC managed today. The intelligence company recently announced the purchase of $ 15 million BTC this past week.
Not mentioned crypto trades with Bitcoin balance sheets
Other companies that are related to Microstrategy are companies like Tesla, Coinshares, Ruffer Investments, Galaxy Digital, the Tezos Foundation and 3iQ The Bitcoin Fund.
Additionally, there are numerous companies not listed on the bitcointreasuries.org website, including the Mediterranean restaurant chain Tahini’s, Canadian graphics software company Snappa, cannabis company Synbiotic SE, and even Coinbase.
On February 24th, the San Francisco Coinbase will trade explained how it can help corporate strategies get bitcoin for their treasury positions. The blog post also mentioned that Coinbase held BTC in its balance sheets since 2012.
It is likely that many cryptocurrency-focused companies adopted and maintained this model a long time ago BTC and other digital assets in their treasuries for quite some time.
What do you think of the 42 companies that hold 1.3 million? BTC worth over $ 65 billion today? Let us know what you think on this matter in the comments section below.
Photo credit: Shutterstock, Pixabay, Wiki Commons, bitcointreasuries.org
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