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According to data provided by Tradingplatforms.com, MicroStrategy and Tesla own 169,044 of the 211,624 BTC held by the top 10 public companies. This holding accounts for 80% of the institution’s reserves.
Edith Reeds of Trafingplatforms.com share: “There’s been a significant shift in corporate thinking about cryptos and BTC in particular. Many are beginning to see them as viable investment opportunities. Besides, BTC’s scarcity and value make it a better hedge against inflation compared to gold.”
MicroStrategy, a leading business analytics firm, confirms Edith’s observations. According to the data, the company owns the most BTC for a public company. Holding above 120k BTC is worth over $5 billion.
This is not surprising since its CEO, Michael Saylor, is a leading supporter of BTC. Sailor revealed that he owns about 18,000 BTC worth over $800 million. Again, he considers BTC digital gold the best store of value.
Tesla came second on the list. An electric car manufacturer has a stash of 48,000 BTC worth over $2 billion. The firm says diversification is the reason for its investment in Bitcoin.
In third place is Galaxy Digital Holdings, with an investment of 16,000 BTC worth about $700 million. Then in fourth place was Square Inc. The company, renamed Block, holds 8,027 BTC worth almost $340 million.
Further from fifth to seventh place were Marathon Patent Group, Hut 8 Mining Corp, and Coinbase. Marathon Patent has 4,813 BTC worth about $200 million in reserves. Hut 8 owns 4,727 BTC ($197.5 million), and Coinbase owns 4,483 coins ($187 million).
NEXON, Voyager Digital, and Riot Blockchain make up the top 10 institutional Bitcoin holders. The trio owns 1717, 1249, and 1175 BTC, respectively. While NEXON’s stake is over $71M, Voyager Digital is around $52M, and Riot Blockchain is $49M.