The Bitcoin Treasuries List Exceeds $30 Billion – 29 Companies Hold BTC Reserves

0
168

More than 1.1 million bitcoin or over $30 billion worth of the crypto asset is held by a myriad of companies, according to the web portal bitcointreasuries.org. The massive stash of bitcoin reserves held by well known companies started swelling after the billion-dollar firm Microstrategy purchased $250 million worth of bitcoin in August. Now there are 29 firms that are holding the cryptocurrency in place of traditional reserves like stocks and cash.

There’s been a new trend lately, as a great number of prominent companies have decided to leverage bitcoin (BTC) for reserves rather than hold traditionally held assets. The trend started gaining ground after Microstrategy purchased $250 million worth of BTC and shortly after, the firm continued to purchase even more bitcoin. After a few purchases, Microstrategy has upped its holdings to 70,470 BTC or .336% of the supply. Following Microstrategy’s purchase, businesses like Square Inc. and Ruffer Investment Company joined the bitcoin purchasing trend.

To-date there’s an aggregate total of 29 firms listed on the website bitcointreasuries.org, a site that tallies up all the companies in three different sections; publicly traded, private, and ETF-like holders.


Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here