- Data providers revealed the increasing adoption of Bitcoin among asset managers and both public and private companies.
- Grayscale Bitcoin Trust singlehandedly accounts for 3 percent of Bitcoin supply.
Records show increasing interest in Bitcoin by asset managers and both private and public companies. As it stands, asset managers and companies account for 6 percent of the total circulating supply of Bitcoin. At press time, about 18.8 million of the crypto asset is in circulation. Analysts have estimated that the total BTC supply at 21 million Bitcoin will be mined in 2140. Also, there is no account for about one-fifth of all Bitcoin, which means that asset managers and companies may own more than the record shows.
Asset managers and companies own $57 billion worth of Bitcoin
Crypto website Buy Bitcoin Worldwide revealed asset managers and companies hold about 1.2 million Bitcoin worth $57 billion. All indicators point to the increasing mainstream and institutional adoption of cryptocurrencies. Specifically, asset managers have gathered 4 percent of BTC’s supply while private, and public companies have amassed 1 percent each. However, Bitcoin Treasuries showed that asset managers and companies have 1.4 million BTC stashed on their balance sheets. Bitcoin Treasures added that national governments own a separate 260,000 BTC.
Buy Bitcoin Worldwide stated that 14 Bitcoin fund issuers and asset managers hold 816,379 BTC worth $40.1 billion. The amount of Bitcoin under these fund issuers and asset managers is equal to 4 percent of crypto asset’s total supply. Out of the 14 asset managers, Grayscale Bitcoin Trust holds over 3 percent of the Bitcoin supply. Grayscale Bitcoin Trust is in charge of 654,6000 BTC, worth $32 billion. Following Grayscale Bitcoin Trust is CoinShares’ XBT Provider, which manages 48,466 BTC equals $2.4 billion. CoinShares’s XBT Provider’s accumulated BTC represents 0.23 percent of BTC supply. On the other hand, the other 12 remaining issuers hold 113,313 BTC, representing 0.54 percent of the supply combined.
The crypto website showed 34 public companies also have Bitcoin on their balance sheet. Collectively, these companies account for 1 percent of Bitcoin’s supply. Nasdaq-listed company MicroStrategy kick-started the acquisition of Bitcoin among other publicly traded companies. MicroStrategy bought its Bitcoin for the first time in August 2020 and has added a whole lot more since then. As a first-time buyer, the business intelligence company purchased 21,454 BTC worth more than $250 million at the time. Now MicroStrategy holds 108,992 BTC, worth $5.3 billion. Furthermore, the company has half of all BTC held by public companies on its balance sheet.
Block.One owns 80% of BTC amassed by private companies
As MicroStrategy holds the most BTC among public companies, blockchain software company Block.One owns 80 percent of all BTC accumulated by private companies. The company accounts for 140,000 BTC worth $6.8 billion.
In addition, electric vehicle maker Tesla accounts for 20 percent of BTC in the care of private companies. The automaker owns 42,902 BTC worth almost $2.1 billion. This equals 20 percent of Bitcoin held by private companies.