According to the data available on the Bitcoin Treasuries website, the largest companies that include the oldest cryptocurrency in their balance sheets hold as much as 7.91% of the total BTC supply.
The total amount of Bitcoin that belongs to companies such as MicroStrategy (the undisputed leader of purchases), Tesla, Square and dozens of others is as much as 1,660,606 BTC, and their current value is $80,194,312,710.
Cryptocurrency shopping frenzy
More than one and a half million Bitcoins belonging to major companies that regularly (like the aforementioned MicroStrategy) or one-time (Tesla) buy cryptocurrency is almost 8% of the total supply. At the same time, it is important to note that the value takes into account only those Bitcoins that are currently in circulation. Among the companies that are willing to invest in BTC are both large listed companies and private companies. Most of them have made purchases this year or last year.
We’ve mentioned MicroStrategy’s purchases many times (most recently three days ago in the article MicroStrategy’s multi-million dollar purchases: 3907 Bitcoin). Not surprisingly, the company has managed to accumulate as much as 108,991 BTC, making it rank first in the list of Bitcoin Treasuries. MicroStrategy CEO Michael Saylor has also repeatedly encouraged other investors to follow in his footsteps, and there is no shortage of posts on his Twitter account(@michael_saylor) like Bitcoin is truth, freedom and honesty:
“Bitcoin is truth, freedom, and integrity”.
In addition to MicroStrategy, the TOP 5 companies with the most BTC on their balance sheet include:
- Tesla (43,200 BTC),
- Square (8,027 BTC),
- Marathon Digital Holdings (5,425 BTC),
- Coinbase (4,487 BTC).
Given the announcement that Coinbase will add $500,000,000 worth of cryptocurrencies to its balance sheet, the list may soon change.
With such unimaginable amounts of bitcoin, any moves related to selling could spook small investors and cause the price to collapse. Fortunately for the supporters of the oldest cryptocurrency, Michael Saylor has repeatedly stressed that he is not interested in selling BTC (see also: I won’t sell bitcoin, no matter what).