16 April 2021
Bitcoin is the first and the largest cryptocurrency; moreover, it has been in the hype in the last few years, growing in popularity and usage. Many large companies are participating in, adopting, and investing in Bitcoin. Since it is a volatile market, the investors have to be on their toes all the time. The cryptocurrency market facilitates various tools to help the investors keep up with space, and one such tool is - Cryptocurrency Portfolio, in here, Bitcoin Portfolio.
A Bitcoin portfolio is a cryptocurrency portfolio software that manages the online currency investments’ inventory in real-time, and helps the user to keep a track of the crypto and facilitates analytical tools. It is one of the essential tools to manage cryptocurrency-related risk-management.
Several major companies are scooping Bitcoin resulting in the most extensive crypto bull run and skyrocketing Bitcoin, creating an all-time-highs! The various public-traded companies have adopted Bitcoin as a Reserve Asset.
In January 2021, as per the research by the asset manager - CoinShare, the investment inflows in Bitcoin and other Cryptocurrency funds hit a record of $1.31 billion.
In this blog, we are going to introduce you to 10 Public Companies With Huge Bitcoin Portfolios:
Bitwise - the asset manager is the world’s first and the largest cryptocurrency index fund - The Bitwise 10 Crypto Index Fund. The Crypto Index Fund is a primary public-traded crypto index fund that was launched in December 2020. They provide single asset funds that are low-cost, liquid and secured, low-cost lenders, total returns, institutional trading, and world-class custody. The company is backed by institutions and investors that have been investors, board directors, and executives of firms like Coinbase, PayPal, Royal Bank of Scotland, Google, Square, JPMorgan, ETF.com, Chain, Stripe, Wealthfront, Twitter. Facebook, MetaStable, and many such more.
The platform also provides its investors to buy shares that represent them by tracking the 10 largest cryptocurrencies. The Bitwise products’ funds observed a significant demand, with Bitcoin at around three-quarters of its assets under management and 11,430 BTC funds.
The CEO of Bitwise - Matthew Hougan, told Decrypt, “The idea is to be the S&P 500 or the FTSE 100 of the crypto space,” “In the US it’s about a $15 trillion market, it’s a market that’s aggressively moving towards crypto at this very moment, and that’s what our products are designed to serve.”
CoinShares is the pioneer of digital asset investing and listed as a public company that manages Bitcoin assets. The first company to launch a regulated Bitcoin hedge and offers two exchange-traded Bitcoin products - Bitcoin Tracker One and Bitcoin Tracker Euro. They provide exchange trade products, active strategies, capital markets, advisory services, research, and index strategies. They are a team of finance professionals, traders, portfolio managers, and product innovators.
As of February 2021, it included 69,730 BTC of its asset under management, and its investment represents over 0.3% of the present Bitcoin circulation supply.
The CEO of CoinShares - Jean-Marie Mognetti, stated in a press release, “The narrative shift around Bitcoin over the last six months has been profound. Investors used to consider it a risk to allocate to bitcoin. Now it’s a risk not to allocate to Bitcoin. As more investors look to Bitcoin as a viable investment option, our XBT Provider products continue to offer exposure to Bitcoin via traditional brokerage accounts across Europe, making it easy for investors of all types to gain exposure to Bitcoin without the premium associated with other products in the market or the risk of trading and securing your own assets.”
Also Read, 7 Tips To Manage Your Crypto-Portfolio
3. ETC Group
ETC Group is the leading-edge cryptocurrency ETCs for the portfolio, with 100% asset-backed and trade. It is the first centrally cleared Bitcoin exchange-traded product. In June 2020, it launched its ETC Group’s Bitcoin ETF, BTCE on Deutsche Börse’s Xetra platform and it was listed in Zurich in January 2021 on the SIX Swiss Exchange. It also hit its record on daily trading at $69.1 million.
The fund is backed by Bitcoin stored with BitGo Trust. At present, it holds 12,840 BTC.
The CEO of ETC Group - Bradley Duke on the launch of BTCetc Bitcoin Exchange Traded Crypto (BTCE) said, “We are transporting Bitcoin into the fold of mainstream, regulated financial markets.”
4. Galaxy Digital
Galaxy Digital was founded in 2018 by Michael Novogratz. The company partnered with Block.one and Blockfi. It provides diversified financial services, and investment management in cryptocurrency, blockchain, and digital assets.
Galaxy Digital has been stated to hold 16,402 BTC.
Grayscale was established in 2013 and provides digital currency investing with a diversified and secure digital currency asset class. It is one of the biggest names in the crypto and blockchain space. The platform has the most significant Bitcoin portfolio with over $30 billion in BTC under management.
The Grayscale Bitcoin Trust and Grayscale Digital Large Cap Fund holds 656,166 BTC under management which is 3% of Bitcoin’s total supply
The Founder of Grayscale - Barry Silbert stated, “Bitcoin has the potential to radically transform our concepts of money, store of value, and the means by which assets are exchanged the world over.”
MicroStrategy is a prominent platform for business analytics that has also adopted Bitcoin as its primary reserve asset. The CEO of MicroStrategy, Michael Saylor, is very open and encouraging about Bitcoin; instead, in a Tweet, he even made the following thing public.
In February 2020, MicroStrategy during its World.Now conference, it hosted a Bitcoin for Corporations strand. The platform holds 71,079 BTC in reserve
Also Read, Investing In Cryptocurrency This 2021
Ruffer was founded in 1994, and it is a London-based asset manager and investment management. In December 2020, it allocated 2.5% of its Multi-Strategies Fund to Bitcoin, holding 45,000 BTC, which now worth over $2 billion.
Square is founded and managed by Twitter’s Jack Dorsey and the company is a part of the Bitcoin reserve asset. It has invested $50 million in cryptocurrency, representing the company’s asset of 1%. It holds 4,709 BTC, which is almost 0.025% of Bitcoin’s circulating supply.
Square has even added support for recurring purchases on Bitcoin, and the subsidiary of Square - Square Crypto offers grants to anyone who helps in Bitcoin’s development with reference to scaling, privacy, security, and so forth.
The Chief Financial Officer of Square - Amrita Ahuja said, “We believe that bitcoin has the potential to be a more ubiquitous currency in the future,” “As it grows in adoption, we intend to learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey.”
Tesla, an electric vehicle manufacturer is popular with its participation in the crypto world, and is known for its hundreds of million-dollar investments in cryptocurrency. Tesla had invested $1.5 billion in Bitcoin investment that spiked the price of Bitcoin, leading it to it's all-time-high. Tesla has also been said to be accepting Bitcoin for its product’s payments.
In 2020, Elon Musk - the CEO of Tesla and Michael Saylor - the CEO of MicroStrategy took to Twitter their discussion on cryptocurrency.
3iQ was founded in 2012, and it is an investment fund manager and a digital asset manager, focusing on disruptive technologies, blockchain, and digital assets.
In April 2020, its Bitcoin fund was listed on TSX - Toronto Stock Exchange, and in September 2020, it was listed on Gibraltar Stock Exchange. The Canadian-based crypto asset manager holds 22,590 BTC
The CEO of 3iQ - Fred Pyre told Decrypt, “Our vision is for this to be the biggest regulated Bitcoin fund in the world.”