$6.7 Billion In Bitcoin Is Now Held By Public Companies
More insight on what is going on with big business who is spending big money on Bitcoin:
$6.7 Billion in Bitcoin is Now Held by Public Companies
- A total of 13 publicly listed companies now possess almost $7 million in Bitcoin.
- Microstrategy, Galaxy Digital, Square, and Grayscale are among the biggest companies looking after or owning this Bitcoin.
- The trend suggests that public companies are no longer adverse to Bitcoin as a hedge in an increasingly uncertain economy.
Over $6.7 billion of Bitcoin is now held by public companies, including US software giant MicroStrategy; asset manager Galaxy Digital, and Jack Dorsey’s payment processing platform, Square, according to Bitcoin Treasuries. This amount includes some companies holding the Bitcoin on behalf of their investors, like asset manager Grayscale Investments.
The sum rose in recent weeks, with new investments from Microstrategy and Square. The trend signals increasing interest in Bitcoin as a store of value, and a hedge during economic uncertainty—by publicly-traded companies as well as individual investors.