Reports estimate that 32 companies hold more than $10B Bitcoins

As per the reports of crypto Treasury, about 32 firms collectively hold more than $11 billion in value bitcoin. Among them, eleven companies held more than 168,900 ETH with more than 470 million dollars rough value. The value of these figures is not inclusive but does indicate the weightage behind each asset. 

Main points to consider

  • The crypto treasuries report doesn’t include ETFs and AUMs. 
  • The data also shares the big companies involved in the crypto game. 
  • New opportunities for firms in pandemics.

The biggest bitcoin value holders

Reports suggest that Block. One is the largest shareholder of 140,000 bitcoin. The largest block. is immediately followed by Tesla and micro strategy. The latter has more than 90,000 BTC bitcoins. Micro strategy leads from others with about fifty percent more investment in bitcoins. The company’s CEO, Michael Saylor is quite an enthusiast of bitcoin for the past few months. Accordingly, the company from time to time invests in the holdings. Tesla has not gained much with only a smaller profit of 5 percent. Elon Musks’ tweet has not helped the situation. 

Followed by them, Galaxy digital holdings and group secures position among the top five. Other than that Square has also supported bitcoin networks. Galaxy digital main focus is on there with more than 98,000 ETH. If converted, the figure is more than 250 million dollars.  

Other than this, firms have earned from crypto and bitcoins investments. 

Proof that crypto and bitcoins are trustworthy

The above information his us understand that many major companies and firms are a part of the crypto game. The trust for the crypto game has increased now that it was a few years back. A few years ago, companies would never think of even investing in a smaller amount in this asset class. But time has changed. 

The more clear proof is how Microstrategy has shifted its path towards bitcoins. Once dismissed the BTC, the company’s CEO believes crypto was the most ardent supporter of the company at present.

Pandemic effects for big firms.

The financial rulings prepared by some states due to this covid 19 situation are drastic ones. It has have made private companies think of diversifying funds. Big companies are enrolling in this game because of two reasons. They find potential value in the form of the developed mobile applications and decentralized finance.

Also Read: Asset Manager Ruffer Sold all his Bitcoin Holding and Book Profit