Over$6.7 billion of Bitcoin is now held by public companies, including US software giant MicroStrategy; asset manager Galaxy Digital, and Jack Dorsey’s payment processing platform, Square, according to Bitcoin Treasuries. This amount includes some companies holding the Bitcoin on behalf of their investors, like asset manager Grayscale Investments.
The sum rose in recent weeks, with new investments from Microstrategy andSquare. The trend signals increasing interest in Bitcoin as a store of value, and a hedge duringeconomic uncertainty—by publicly-traded companies as well as individual investors.
Currently, with 38,250 BTC ($425 million,) Microstrategy holds more Bitcoin than any other publicly traded investor, aside from Grayscale.
Microstrategy’s holdings also mean that the company’s shareholders—who include BlackRock, Vanguard, and Norway's Oil Fund—are now indirectly exposed to millions in Bitcoin.
Every Norwegian now owns some Bitcoin—albeit indirectly and a tiny amount.
This is because the Norwegian government's pension fund holds a 2% stake in US software company, MicroStrategy, and MicroStrategy just bought a lot of Bitcoin (around $425 million.) So, every Norwegian citizen now indirectly owns $1.72 of the cryptocurrency—without even knowing it.
Norway’s government owns the so-called "Oil Fund," which with $1 trillion in assets is the world’s largest sovereign wealth fund.
The stat...
Not only that, but the investment also means every citizen in Norway nowindirectly owns some Bitcoin, as the country’s government holds a two-percent stake in the corporation.
Bitcoin Treasuries provides a list of the publicly traded companies that are holding Bitcoin. It shows that a total of 13 entities hold 2.85% of the total supply of Bitcoin.
Publicly traded companies that own Bitcoin. Image: Bitcointreasuries.
Square is the most recent entry on the list. Owner Jack Dorsey, a long-time advocate for the cryptocurrency, last week announced that his company had acquired $50 million in Bitcoin.
"More important than Square investing $50mm in #Bitcoin is sharing how we did it (so others can do the same)," Dorsey tweeted, with a link to Square's investmentwhitepaper.
1. Grayscale Investment Trust
Contrary to popular belief, Grayscale owns 0 Bitcoin. The actual clients of this fund are the real buyers of them.
Grayscale is a portfolio management service, all they do is trade on behalf of their clients, and then charge insanely high fees. pic.twitter.com/JktgeHu1jq
In recent months, Bitcoin investment by digital asset management firm Grayscale has grabbed headlines. But, while the company is publicly traded, its clients are the real buyers of the BTC.
But the impressive $5 billion the company holds in Bitcoin is still included in the calculation on the Bitcoin Treasuries website—albeit below a dividing line—alongside other asset managers such as Coinshares.
Looking at the bigger picture all bar one of the publicly traded firms holding Bitcoin have seen the value of their investment rise, at least at current prices.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin treasury firm Metaplanet has amassed an additional 1,234 Bitcoin worth nearly $132 million, based on the current price, marking its third-largest BTC buy to date, according to a disclosure released by the firm on Thursday.
The Japan-based firm purchased the Bitcoins for 15,617,281 yen per token, or around $108,129 at the current conversation rate, the filing shows. The purchase date remains unclear.
This latest acquisition brings Metaplanet’s Bitcoin holdings to 12,345 BTC, worth more th...
A Tether co-founder and former Blackstone dealmaker are aiming to raise $1 billion to build a digital asset treasury for a company they aim to take public, according to a Bloomberg report.
The duo, ex-Blackstone executive Chinh Chu and stablecoin titan Reeve Collins, will raise the capital through their special-purpose acquisition company M-3 Brigade Acquisition V Corp., the publication reported Wednesday, citing sources familiar with the matter. The firm’s treasury would hold several digital as...
Coinbase shares spiked 5% to $375 when markets opened on Thursday, putting the crypto exchange’s stock on track for its highest closing price on record.
Coinbase shares were recently changing hands around $372, well above the company’s record closing price of $357 in November 2021, according to Yahoo Finance. Year-to-date, the company’s stock price has climbed 50% from $256 in January.
Although Circle’s blockbuster IPO is contributing to Coinbase hype, alongside the Senate’s recent passage of st...
