Since the company Microstrategy shifted a lot of its treasury reserves into bitcoin, a great number of companies have followed the firm’s lead. According to the web portal, bitcointreasuries.org, data shows that 42 companies are now represented on the list and the businesses hold more than $65 billion worth of bitcoin.
The Corporate Bitcoin Stash- 6.43% out of the 21 Million Capped Supply
It has become a trend to add bitcoin (BTC) to a company’s balance sheet and the company Microstrategy invoked the trend when the business purchased $250 million worth of BTC. Since then, a great number of companies have followed suit and BTC’s value has skyrocketed as well.
For instance, at the end of 2020, 29 firms held around 1.1 million bitcoin worth more than $30 Billion using exchange rates on December 28. Moreover, at the time, the 29 companies owned 5.48% of the entire 21 million BTC supply.
Today, according to bitcointreasuries.org statistics…