Around $ 6.7 billion in BTC is currently in the hands of public companies, including US software giant MicroStrategy. According to Bitcoin Treasuries, Galaxy is Jack Dorsey, Square’s digital asset manager and payment processing platform. Included in this number are some of the companies that hold bitcoin on behalf of their investors, such as B. Gray Scale Investment Asset Managers.
This amount has increased in recent weeks due to new investments by MicroStrategy and Square. This trend shows the increasing interest in bitcoin as a share of value and security in times of economic uncertainty – from listed companies and individual investors.
Bitcoin Treasury provides a list of public companies that hold BTC. It shows that a total of 13 companies own 2.85% of the total bitcoin supply.
The firm currently has 38,250 BTC (£ 425 million) more bitcoin than any other public investor except Grayscale.
It also means that the company’s shareholders – including BlackRock, Vanguard, and the Norwegian Petroleum Fund – are now indirectly exposed by millions of BTC. Besides, the investment also means that every citizen of Norway indirectly owns a stake in bitcoin, because the government of that country owns a two percent stake in the company.
Latest Bitcoin Holder
Square is the newest entry on the list. Longtime cryptocurrency defender Jack Dorsey announced last week that his company had acquired $ 50 million worth of bitcoin. Dorsey wrote on Twitter that Square’s most important thing to invest $ 50 million in BTC is to share how they did it (so that others can do the same). He also gave a link to Square’s investment documents.
Square believes that cryptocurrency is an economic empowerment tool and an opportunity for the world to participate in a global monetary system that aligns with company goals. The investment accounted for approximately one percent of Square’s total assets at the end of the second quarter of 2020.
Grayscale Making Headlines
In recent months, bitcoin investment in digital asset management company Grayscale has made headlines. Even though the company is publicly traded, its customers are actual BTC buyers.
Grayscale Bitcoin Trust launched on September 25, 2013, 471,022,700 shares were outstanding, and each share was worth 0.00095519 BTC per share. Over the past few weeks, digital currency advocates have noted that using today’s exchange rates, the Grayscale has raised an estimated 17,100BTC, or $ 182 million. It corresponds to 2.4% of the current BTC supply.
However, the company’s impressive $ 5 billion BTC continues to flow into the Bitcoin Treasuries website tally – albeit below the dividing line – along with other asset managers such as Coinshares.