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 include Bitcoin (BTC) on a company’s balance sheet, and Microstrategy referred to that trend when the company bought $ 250 million worth of BTC. Since then, a large number of companies have followed suit, and the value of BTC 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 owned 5.48% of the total 21 million BTC supply at the time.
According to the statistics from bitcointreasuries.org, the numbers have changed a lot today. 42 companies are now listed on the web portal, presenting companies from all over the world that hold BTC Treasuries.
As of March 1, 2021, as of Monday afternoon (EST), companies are valued at $ 65 billion using the BTC / USD exchange values. The companies hold a massive 1,350,073 BTC, or 6.43% of the maximum supply 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’s massive BTC hoard makes up almost half of bitcointreasuries.org’s total Bitcoin balance sheets.
The private company with the name “MTGOX KK” holds the second largest share of BTC with 141,686 BTC. Behind the Mt Gox stash is Block.one’s treasury, which today holds 140,000 BTC valued at $ 6.7 billion.
Microstrategy is the fourth largest publicly traded owner and with 90,859 BTC managed today, steadily working towards six-digit Bitcoin holdings. The intelligence company recently announced it would buy $ 15 million in BTC over the 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 24, the Coinbase exchange in San Francisco explained how it can help corporate strategies get bitcoin for their treasury positions. The blog post also mentioned that Coinbase has had BTC on its balance sheets since 2012.
It is likely that many cryptocurrency-oriented companies adopted this model long ago and have had BTC and other digital assets in their treasuries for quite some time.
What do you think of the 42 companies that now hold 1.3 million BTC, valued at over $ 65 billion? Let us know what you think on this matter in the comments section below.
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Balance sheets, Bitcoin, Bitcoin Billions, Bitcoin Treasuries, Bitcoin Trust, bitcointreasuries.org, BTC, Coinbase, Crypto Asset, Cryptocurrency, Grayscale, Bitcoin Micro-Strategy, Mogo, Reserves, Buffer Investments, Snappa, Square, Tahini’s, Tesla, Treasuries
Photo credit: Shutterstock, Pixabay, Wiki Commons, bitcointreasuries.org
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