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MicroStrategy And Tesla Command 80% Of BTC Held By Top 10 Public Companies
According to data presented by tradingplatforms.com, MicroStrategy and Tesla own 169,044 of the 211,624 BTC that the top 10 public companies hold. This holding amounts to 80% of those institutions' reserves.
Trafingplatforms.com's Edith Reads has had her take on the data. She observes, "There's been a significant shift in corporate thinking about cryptos and BTC in particular. Many are beginning to see them as viable investment opportunities. Besides, BTC's scarcity and value make it a better hedge against inflation compared to gold."
The best store of value
MicroStrategy, the premier business analytics firm, resonates with Edith's observations. According to the data, the company holds the most BTC for a public company. Its 120 thousand BTC stash is worth over $5 billion.
That's not surprising as its CEO Michael Saylor is a leading BTC proponent. Saylor has revealed that he owns about 18 thousand BTC worth over $800 million. Again, he sees BTC as digital gold and the best store of value.
Tesla came second on the list. The EV manufacturer has a stash of 48,000 BTC with a valuation of over $2 billion. The firm says that diversification is the reason for its crypto investment.
Rounding up the top ten
Coming in third was Galaxy Digital Holdings with 16000 BTC investment worth about $700 million. Then came Square Inc in fourth place. The outfit that rebranded to Block holds 8,027 BTC worth nearly $340 million.
Following in the fifth to the seventh position were Marathon Patent Group, Hut 8 Mining Corp, and Coinbase. Marathon Patent has 4,813 BTC valued in the region of $200 million in reserves. On its part, Hut 8 owns 4727 BTC ($197.5 million), and Coinbase has 4483 coins ($187 million)
NEXON, Voyager Digital, and Riot Blockchain round up the ten largest institutional bitcoin holders. The trio possesses 1717, 1249, and 1175BTC, respectively. While NEXON's holding amounts to over $71 million, Voyager Digital's comes to about $52 million and Riot Blockchain's to $49 million.
The full story and statistics can be found here: https://tradingplatforms.com/blog/2022/01/19/microstrategy-tesla-command-80-of-btc-held-by-top-10-public-companies/
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