7 October 2022
MicroStrategy And Tesla Own The Lion’s Share Of Bitcoin
Among the top 10 public companies holding Bitcoin, MicroStrategy and Tesla own 169,044 of the 211,624 BTC held by companies. Both companies holding represent 80% Bitcoin of the leading 10 public companies.
Edith Reeds of Trafingplatforms.com said, “There’s been a significant shift in corporate thinking about cryptos and BTC in particular. Many are beginning to see them as viable investment opportunities. Besides, BTC’s scarcity and value make it a better hedge against inflation compared to gold.”
MicroStrategy has confirmed Edith’s observations. As per the data, a leading business analytics firm is holding the most BTC for a public company. It owns Bitcoin above 120k worth over $5 billion.
The company CEO, Michael Saylor, is also a leading supporter of Bitcoin. He revealed that he is holding around 18,000 BTC worth $800 million. According to him, Bitcoin is the best store of value.
Tesla is the second company that holds most of the Bitcoin. Tesla holds 48,000 BTC worth over $2 billion. An electric car manufacturer says diversification is the reason for its investment in Bitcoin.
Galaxy Digital Holdings occupies the third position with 16,000 BTC worth about $700 million.
Square now renamed as Block, holds 8,027 BTC worth $340 million, which places the company at the fourth position.
Marathon Patent Group, Hut 8 Mining Corp, and Coinbase take fifth to seventh place. Marathon Patent has 4,813 BTC worth $200 million, Hut 8 owns 4,727 BTC ($197.5 million), and Coinbase owns 4,483 coins ($187 million).
The remaining three companies are NEXON, Voyager Digital, and Riot Blockchain. They hold 1717, 1249, and 1175 BTC, respectively.