Listed companies, trusts and ETPs now control almost 7% of the Bitcoin supply
More publicly traded firms added Bitcoin to their treasuries during the first four months of 2021 than during the entirety of last year. But will it continue? More than $6.5 billion worth of BTC — or close to 1% of the crypto asset’s entire capitalization — is held by 19 publicly-listed companies. A further 5.75% of Bitcoin’s market cap is held by exchange-traded products and closed-ended trusts.The figures are contained in a new study by Nickel Digital Asset Management. The 19 firms cited are worth a combined market cap of more than $1 trillion, with 13 based in North America, three....
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