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    Asset managers and companies accumulate 1.2M Bitcoins

    Asset managers and companies accumulate 1.2M Bitcoins 

     

    According to the Buy Bitcoins Worldwide report, 6 per cent of the total circulating Bitcoins (BTC) has been accumulated by asset managers and companies, indicating mainstreaming of crypto assets within financial institutions.

     

    The same report shows that at present, 816,379 BTC worth $40.1 billion is held by 14 Bitcoin asset managers and fund issuers — representing 4 per cent of the total cryptocurrency’s supply. Grayscale Bitcoin Trust, an industry leader, represents over 3 per cent of BTC supply, managing 654,600 BTC (roughly $32 billion). CoinShares’ XBT Provider seconds with 48,466 BTC ($2.4 billion), accounting for 0.23 per cent of supply. The remaining 12 issuers cover 113,313 BTC or 0.54 per cent of the supply combined.

    Buy Bitcoins Worldwide has also tracked 34 public companies holding BTC on their balance sheets, commanding 1 per cent of Bitcoin’s supply.

    Half of the total Bitcoin holdings are among public companies associated with MicroStrategy, which currently is in possession of 108,992 BTC worth $5.3 billion, following the addition of 3,907 Bitcoin to its stash since July. Tesla accounts for 20 per cent of the Bitcoin in possession of private companies, with the firm having accumulated 42,902 BTC worth roughly $2.1 billion.

     

    Private companies absorbed 174,068 BTC worth $8.5 million, covering 0.83 per cent of Bitcoin’s supply. Block.One holds 140,000 BTC, accounting for $6.8 billion. Bitcoin Treasuries tallying 1.4 million BTC on the balance sheets come under the possession of asset managers and companies, and another 260,000 BTC is attributed to the balance sheets of national governments.

     

    Analysts suggest that the Bitcoin’s supply will probably cap at 21 million BTC, with the final Bitcoin estimated to be mined by the 2140. At present, 18.8 million BTC are in circulation, but access to one-fifth of all Bitcoins roughly has been lost, which indicates that asset managers might be in greater control of the supply.

    #Bitcoin #Business #CryptocurrencyNews #Microstrategy #Tesla

     

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