Throughout this year, we have seen various leading companies and institutions taking interest in the world’s largest digital currency Bitcoin and making an investment in it. These major firms have been accumulating more and more Bitcoin in large numbers. New data shows that a staggering amount of Bitcoin (BTC) is now held by the world’s top cryptocurrency companies.
Top Ten Companies hold over $16 Billion worth of BTC
Bankr.nl, a financial comparison platform has shared data according to which the top ten crypto companies in the world are currently holding a gigantic amount of 830,433 bitcoin (BTC) at the moment. This amount is worth approximately $16 billion at the coin’s current price value of $19,300. This means that these major companies are currently controlling around 4 percent of the entire circulating supply of the top-ranked cryptocurrency at the moment. As per the data from CoinMarketCap, the total circulating supply of the coin is standing at around 18,558,525 BTC, at the time of writing.
Most of these companies belong to the United States. As per the report issued on Monday on 30th of November, out of these top ten firms, six belong to the United States of America. However, the companies from Switzerland, Canada, Germany, and the United Kingdom (UK) are also included in this list.
Grayscale is at the top with a share of 509,581 BTC
The New York City-based cryptocurrency asset management firm Grayscale Investments is at the top of this list. Its largest fund Grayscale Bitcoin Trust Fund holds (GBTC) an amount of 509,581BTC worth over $9 billion or 2.43 percent of the entire circulating supply of Bitcoin. While on the other hand, Block.one is on the second spot and holds 140,000 BTC worth $2.5 billion (0.67 percent of Bitcoin’s supply). The United Kingdom-based digital asset investments firm CoinShares counts for 0.33 percent of Bitcoin’s total circulating supply as it holds 69,370 BTC.
The business intelligence firm MicroStrategy, the asset management firm Galaxy Digital Holdings, the Tezos Foundation and 3iQ The Bitcoin Fund are also included in this list and hold 38,250 BTC, 16,651 BTC, 24,808 BTC, and 10,600 BTC respectively. The United States-based financial services company Square only holds a small portion of Bitcoin’s supply that is 4709 BTC.
As per the report, these companies think that it is less risky to have Bitcoin in your holdings rather than “not having any”. The accumulation of BTC by these major firms shows that the leading digital currency is successfully heading towards mainstream adoption.