Is Bitcoin Now A Must-Have Asset For Public Companies?
As attention on inflation heightens, public companies look to a solid store of value to protect their profits.There’s no denying it: support for bitcoin among publicly-listed companies is growing. As of June this year, more than 34 public companies collectively held over 213,000 bitcoin on their balance sheet, roughly equating to 1.14% of the asset’s circulating supply. From vehicle manufacturers (Tesla) and business intelligence firms (MicroStrategy) to crypto-native companies (Coinbase, Riot Blockchain, Inc) and fintech platforms (Square, Inc), forward-looking organizations are....
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When Microstrategy Inc. bought $425 million bitcoin in the last two months, the decision became an important stamp of institutional approval of the top crypto’s credentials as a mature, safe-haven asset. The American technology firm had just made bitcoin its primary reserve asset to hedge against fiat inflation. Now, it appears major global companies are following Microstrategy’s bitcoin strategy. The website bitcointreasuries.org is curating bitcoin treasures held in reserve by publicly traded companies from across the world. At the time of writing, 13 companies with a....
While asset managers have accumulated 4% of Bitcoin’s supply, private and public companies have also amassed 1% each. Around 6% of Bitcoin’s circulating supply has been accumulated by asset managers and companies, signaling ever increasing mainstream and institutional adoption of crypto assets.According to Buy Bitcoin Worldwide, 816,379 BTC worth $40.1 billion is currently held by 14 Bitcoin fund issuers and asset managers — representing 4% of the cryptocurrency’s supply. Industry leader, the Grayscale Bitcoin Trust, represents more than 3% of the Bitcoin supply, managing 654,600 BTC....
The combined capitalization of publicly-traded crypto stocks surged from roughly $25 billion in January to around $100B today. The combined market cap of publicly-listed crypto firms has roughly quadrupled this year while the number of public digital asset firms has increased by 28% over the same period.A new report from CoinShares estimates that public “cryptocurrency pure play companies” were worth roughly $25 billion at the start of the year, with mining firms and financial service providers representing the lion’s share of value.While the report notes that 16 digital asset firms have....
The Bitcoin market cap is hovering at roughly $211 billion currently, but four years earlier, it was a meager $6.8 billion. This figure matches the BTC supply public companies now hold alone, and it could provide the “writing on the wall” regarding what to expect in terms of the asset’s future growth. Bitcoin Matures Into […]
During the last year, there’s been a lot of discussion concerning bitcoin treasuries or public firms putting bitcoin on their balance sheets. However, the leading crypto asset by market valuation is not the only digital currency being held by treasuries. Ethereum has become a prominent treasury asset as a number of companies are known to hold the second leading crypto in their reserves.
Ethereum Treasuries Have Grown
According to the bitcoin treasuries list, exchange-traded funds, countries, public companies, and private firms own 1,559,047 bitcoin (BTC) worth roughly $66....