$6.7 Billion in Bitcoin is Now Held by Public Companies – Decrypt

$6.7 Billion in Bitcoin is Now Held by Public Companies – Decrypt

In brief

  • A total of 13 publicly listed companies now possess almost $7 billion in Bitcoin.
  • Microstrategy, Galaxy Digital, Square, and Grayscale are among the biggest companies looking after or owning this Bitcoin.
  • The trend suggests that public companies are no longer adverse to Bitcoin as a hedge in an increasingly uncertain economy.

Over $6.7 billion of Bitcoin is now held by public companies, including US software giant MicroStrategy; asset manager Galaxy Digital, and Jack Dorsey’s payment processing platform, Square, according to Bitcoin Treasuries. This amount includes some companies holding the Bitcoin on behalf of their investors, like asset manager Grayscale Investments.

The sum rose in recent weeks, with new investments from Microstrategy and Square. The trend signals increasing interest in Bitcoin as a store of value, and a hedge during economic uncertainty—by publicly-traded companies as well as individual investors. 

Currently, with 38,250 BTC ($425 million,) Microstrategy holds more Bitcoin than any other publicly traded investor, aside from Grayscale.

Microstrategy’s holdings also mean that the company’s shareholders—who include BlackRock, Vanguard, and Norway’s Oil Fund—are now indirectly exposed to millions in Bitcoin.

Not only that, but the investment also means every citizen in Norway now indirectly owns some Bitcoin, as the country’s government holds a two-percent stake in the corporation.

Bitcoin Treasuries provides a list of the publicly traded companies