According to bitcointreasuries.com, companies now own a total of 840,000 BTC, worth more than $ 16 billion.
ETF-type funds hold over $ 10 billion, while public companies hold over $ 1.3 billion in BTC.
As more companies experiment and diversify into bitcoin, this number is likely to increase
Due to an increase in purchases, companies are now approaching a million bitcoins owned, with 840,000 BTC under corporate control. This number appears to be increasing rapidly.
It seems that almost every week new companies are allocating some of their cash reserve assets to Crypto Cash review.
This increased adoption by companies across a variety of industries and sectors may bode well for the emerging asset class and the lead cryptocurrency.
Companies now hold 842k #Bitcoin, worth over $ 16 billion
The Grayscale Bitcoin Trust is the long-time leading corporate holder, holding nearly $ 10 billion on behalf of its investors.
Grayscale regularly makes massive purchases, having bought for $ 182 million in September alone.
Grayscale currently owns over 500,000 bitcoins, which is over 2% of the entire BTC supply. This percentage could be much higher considering all the lost and unreachable BTC.
While Grayscale has been buying big bucks for some time now, the growing list of state-owned companies could point the way to widespread adoption.
Since SOEs must be openly transparent to their investors and the public, they record any substantial purchase.
Businesses Outperform Latest Bitcoin Rally
So far, investors in these companies have been extremely well rewarded. MicroStrategy is up more than 120% since early October, with a current stock price of around $ 330.
Square , the payments processing company owned by Twitter co-founder Jack Dorsey, made an equally risky bet by buying $ 50 million worth of bitcoin in early October.
The firm has also seen a positive response from investors, with its share price rising about 15% since the acquisition.
Not all companies that have reported Bitcoin holdings on bitcointreasuries.com have any debt thanks to relentless buying pressure from the crypto leader.
MicroStrategy has made more than $ 300 million in profit from its purchases, and Square has made more than $ 40 million, almost double its money since the initial investment.