As reported by Bitcoin Treasuries, as many as 1,660,473 BitCoins (BTC) are on the balance sheets of companies and corporations. This is approximately 8% of all Bitcoins that may ever be in circulation.
If we take the current number of BTCs that are currently in circulation, it is safe to say that companies hold as much as 10% of all Bitcoins.
The largest owner of Bitcoin among companies is MicroStrategy, which owns 108,991 Bitcoins. This amounts to over 0.5% of all BTC in circulation.
Tesla currently ranks second among companies with BitCoin in their balance sheets. Elon Musk’s corporation owns 43,200 BTC, which was bought earlier this year and is now worth over $ 2 billion.
Other companies with large BTC portfolios are Square, Marathon Digital Holdings and Coinbase. Twitter founder Jack Dorsey (Square) owns over 8,000 BTC. The mining company owns 5,425 coins, and Coinbase, America’s largest cryptocurrency exchange, boasts 4,487 Bitcoins in its wallet.
Most companies added Bitcoin to their balance sheet in 2020 or 2021, which makes us understand that the corporate BTC accumulation race has only just begun.
As more and more companies realize what Bitcoin really is and what its unique capabilities are, it can be assumed that in the coming years, cryptocurrencies will be on the balance sheets of thousands of small and large companies around the world. If that happens, we can be pretty sure that 1 BitCoin will cost $ 1 million in the near future.
31-08-2021, Mr Advice TEAM