Companies Holding The Largest Amount of Bitcoins
By Space Coast Daily // January 25, 2022
Since its inception, the crypto market has experienced a dramatic boom, in terms of market capitalization and adoption. However, the idea that any publicly traded corporations might purchase Bitcoin for reserves was deemed ludicrous. It was too risky for any serious business to adopt the world’s top cryptocurrency.
Now, you will come across several top organizations investing seriously in Bitcoin. To understand this better, this guide will introduce the top companies that hold the greatest amount of Bitcoin. Now, let’s take a dive in!
Top 4 companies with the highest amount of cryptocurrencies
Several investors are skeptical about how profitable it is to buy Bitcoin. However, purchasing shares in public companies that hold Bitcoin can expose them to this virtual currency without much hassle. If you fall into this category, this list below will discuss the top 4 companies that hold the highest amount of cryptocurrency:
This well-known business analytics platform has adopted Bitcoin as a reserve asset. In 2021, this firm kept buying Bitcoin excessively. As of December 2021, this company holds over 124,390 BTCs and this is equivalent to about $5.8 billion in BTC.
The CEO, Micheal Saylor once affirmed that he was buying $1,000 in Bitcoin per second. Saylor even publicly disclosed that he personally has 17,732 BTCs in reserve which is worth at least $754 million.
One fear that most people entertain is the disappearance of a trading platform with their funds in it and some may even recommend using several platforms at a time. However, you don’t have to worrry about this with the BitQT platform. The platform has long been in existence and has had zero complaints feom hos clients. All legal and technical issues are addressed before they get to cause any havoc or panic with you, our clients.
Tesla is a popular manufacturer of electric vehicles. It ranks as one of the top holders of Bitcoin. Its SEC filing revealed that the company invested about $1.50 billion in this virtual currency. The company currently holds 42,902 BTCs, which are currently worth about $1.83 billion. In the first quarter of 2021, about 10% of Telsa’s Bitcoin holdings.
According to Elon Musk, the CEO, this was an opportunity “to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.” Tesla’s SEC filing also reflects an updated investment policy that is focused on diversifying its cash while maximizing returns.
Galaxy Digital Holdings
This company represents the largest institutional holder of Bitcoin to be directly related to the crypto industry. This bank has over 16,400 BTCs, which is currently worth over $697.8 million. The country was founded by Micheal Novogratz in January 2018 and it has partnered with several cryptocurrency firms, such as BlockFi and Block.one.
Unsurprisingly, Novogratz is a strong advocate for the largest cryptocurrency. He once noted, in April 2020, that stimulus measures proclaimed with respect to the coronavirus pandemic were bringing up interest in cryptocurrencies. He called it Bitcoin’s moment while arguing that “money does not grow on trees.”
Voyager Digital LTD
According to bitcointreasuries.org, this company holds about 12,260 BTCs, which are presently valued at about $521 million. This firm is focused on providing a quick means through which digital assets can be traded. In May 2021, the company reported quarterly revenue of over $60.4 million. According to Steven Ehrlich, the CEO, “We saw exponential adoption of cryptocurrencies as a recognized and investable asset class.”
The company gave a more measured tone in its June 2021 filing with regulators in Canada. It stated that “a significant drop in bitcoin price may have a material adverse effect on the Company’s results of operations,” while pointing out the fact that there was a “drastic drop” in Bitcoin price in March 2020, which is due to the uncertainty of the market during the global pandemic.
As the crypto market grows, many experts and investors refer to Bitcoin as the future currency. In recent times, several top companies have bought into this idea and have purchased a huge amount of this virtual currency.
Keeping a large amount of these digital assets will reduce the amount of supply, which becomes significantly less than the amount of Bitcoin demanded, resulting in an increase in Bitcoin’s price. This is how the reserve of these top companies affect the price of Bitcoin.