Image default
Special Bitcoin News

The Bitcoin Treasuries List Exceeds $30 Billion – 29 Companies Hold BTC Reserves

The Bitcoin Treasuries List Exceeds $30 Billion - 29 Companies Hold BTC Reserves

More than 1.1 million bitcoin or over $30 billion worth
of the crypto asset is held by a myriad of companies, according to
the web portal bitcointreasuries.org. The massive stash of bitcoin
reserves held by well known companies started swelling after the
billion-dollar firm Microstrategy purchased $250 million worth of
bitcoin in August. Now there are 29 firms that are holding the
cryptocurrency in place of traditional reserves like stocks and
cash.

There’s been a new trend lately, as a great number of
prominent companies have decided to leverage bitcoin (BTC) for reserves
rather than hold traditionally held assets. The trend started
gaining ground after Microstrategy
purchased $250 million worth of BTC
and shortly after, the firm
continued to purchase even more bitcoin. After a few purchases,
Microstrategy has upped its holdings to
70,470 BTC or .336% of the supply
. Following Microstrategy’s
purchase, businesses like Square
Inc
. and
Ruffer Investment Company
joined the bitcoin purchasing
trend.

To-date there’s an aggregate total of 29 firms listed on the
website bitcointreasuries.org, a site
that tallies up all the companies in three different sections;
publicly traded, private, and ETF-like holders.

The Bitcoin Treasuries List Exceeds $30 Billion - 29 Companies Hold BTC Reserves

There’s a total of 15 publicly traded firms including
Microstrategy Inc., Galaxy Digital Holdings, Square Inc., Hut 8
Mining Corp, Voyager Digital LTD, Riot Blockchain, Inc., Bit
Digital, Inc., Coin Citadel Inc., Advanced Bitcoin Technologies AG,
Digitalx, Hive Blockchain, Cypherpunk Holdings Inc., Bigg Digital
Assets Inc., Argo Blockchain, and Frmo Corp. All 15 of these
publicly traded firms have approximately 100,003 BTC worth

The section of private companies holding bitcoin treasuries
includes four private companies including Mtgox k.k., Block.one,
Tezos Foundation, and Stone Ridge Holdings Group. The private
companies have more than the public firms by a longshot with
317,383 BTC
worth — in all four firm’s reserves.

There are nine ETF-like holders at the bottom of the
bitcointreasuries.org list with funds like the Grayscale Bitcoin
Trust, Coinshares, Ruffer Investment, 3iq The Bitcoin Fund,
Grayscale Digital Large Cap, Bitwise 10 Crypto Index Fund,
WisdomTree Bitcoin, 21shares AG, and ETC Group Bitcoin
ETP.

The bitcoin (BTC) stash held by the
nine funds is approximately 734,232 BTC worth — using
today’s exchange rates. Out of all 29 companies, the Grayscale
Bitcoin Trust is by far the largest BTC holder with
572,644 BTC.
Other notable holders include the Mtgox k.k. Holdings,
Block.one’s stash, Microstrategy’s reserves, and the holdings
held by Coinshares. The web page bitcointreasuries.org, does not
include a few other firms that have replaced traditional assets in
their treasuries for bitcoin.

This includes the Canadian
restaurant chain Tahini’s
, and the Canadian graphics software
company, Snappa. Tahini’s restaurant chain revealed the company
swapped all of its cash reserves into BTC, while Snappa

said
the business traded 40% cash reserves for bitcoin.

The publicly listed Canadian company Mogo also just
announced
investing 1.5% of the company’s reserves in
bitcoin, and plans to buy more next year. When Tahini’s decided
to tell its financial advisor it was purchasing bitcoin right
afterward, he suggested gold. The restaurant owners
said
the precious metal gold’s years of being a reliable safe
haven are numbered.

“We looked our financial advisor in the eye and told him gold
will turn into a scam because of bitcoin,” the company tweeted.
“He laughed and condescendingly came back with the 6,000 years
argument,” Tahini’s added.

What do you think about all the companies that have
purchased bitcoin for reserves? Let us know what you think about
this subject in the comments section below.

The post
The Bitcoin Treasuries List Exceeds $30 Billion – 29 Companies
Hold BTC Reserves
appeared first on Bitcoin News.

Related posts

Interest from China, Co-Mining and a Grayscale Trust Gives Filecoin’s Market Cap a Valuation Lift

Charted: Ripple (XRP) is About to See “Liftoff” if it Clears $0.255

Russian Bill to Recognize Cryptocurrencies as Property Advances in Parliament

Translator / 翻译者 / Traductor