A new report has revealed that more than11% of all Bitcoin (CRYPTO: BTC) is now held by a diverse group of institutional investors.
What Happened:Publicly traded companies, private firms, countriesand exchange-traded funds (ETFs) collectively hold a staggering 2,511,273 Bitcoin, according to data from Bitcoin Treasuries, a platform tracking institutional ownership of the cryptocurrency. Thisrepresents11.958% of all Bitcoincurrently in circulation.
Publicly traded companies have emerged as major players in the Bitcoin ecosystem.
The report identifies the following companies as some of the leading corporate holders:
- MicroStrategy Inc(NASDAQ:MSTR): 205,000 bitcoin.
- Marathon Digital Holdings Inc(NASDAQ:MARA): 16,930 bitcoin.
- Tesla Inc(NASDAQ:TSLA): 9,720 bitcoin.
- Hut 8 Corp(NASDAQ:HUT): 9,110 bitcoin.
- Coinbase GlobalInc (NASDAQ:COIN): 9,000 bitcoin.
These companiesaccount for 1.189% of the total supply of bitcoin. Notably, Tesla is the only company not directly related to cryptocurrency on that list, with the others being an exchange (Coinbase), Bitcoin mining (Hut 8, Marathon Digital) and a self-proclaimed Bitcoin development company (MicroStrategy).
This trend highlights the growing recognition of Bitcoin as a valuable asset class by established corporations, potentially contributing to wider adoption and long-term price stability.
Also Read:Bitcoin ETF Investment Frenzy: $500M Rushes In, But Where's The Money Going?
Private Companies And Countries Show Strong Interest: Private companies are another significant force in Bitcoin ownership, holding an estimated 516,571 Bitcoin, translating to 2.46% of the total circulation.
This data suggests strong interest in Bitcoin beyond publicly traded entities, potentially including hedge funds, family officesand other private investment groups.
Furthermore, the report findsa growing number of countries are accumulating Bitcoin reserves.
As of March 11, these nations held a combined total of 562,968 Bitcoin, representing 2.681% of all Bitcoin.
The reasons behind this trend may vary, potentially including diversification of national reserves or exploring Bitcoin's potential as a global currency.
Why It Matters: The report also highlights the rise of Bitcoin ETFs as a convenient way for investors to gain exposure to Bitcoin without directly purchasing it.
These investment vehicles currently hold 977,583 Bitcoin, representing 4.655% of the total supply.
The increasing availability of Bitcoin ETFs could further fuel mainstream adoption and potentially lead to greater price stability.
Read Next:US Bitcoin Spot ETFs Now Accessible To Indian Investors
Image created using artificial intelligence with Midjourney
