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Data from CryptoTreasuries shows that 32 companies hold nearly $ 12 billion in BTC, while 11 companies hold around $ 470 million in ETH.
According to data from CryptoTreasuries, 32 companies together hold around 325,013 bitcoins. This value is approximately $ 11.7 billion. As for Ethereum, 11 companies hold 169,279 ETH, worth around $ 470 million. These figures are not exhaustive but give an indication of the weight given to assets.
The greats of bitcoin
Block.One holds the most bitcoin with 140,000. It is followed by MicroStrategy and Tesla. The first is particularly long on bitcoin and it shows in its holding of 90,859 BTC. MicroStrategy has increased its investment in bitcoin by approximately 50%.
MicroStrategy CEO Michael Saylor has been a big supporter of bitcoin in recent months, with the company periodically increasing its holdings. Tesla, meanwhile, made a much smaller gain at 5%, which was not helped by Elon Musks’ inflammatory tweets.
Galaxy Digital Holdings and StoneRidge Holdings Group round out the top 5. Square, which is also a strong supporter of bitcoin, holds 8,027 BTC. The company’s Cash app is a major entry point for potential investors, and its bitcoin revenue has become its dominant stream over the past year.
Galaxy Digital appears to be much more focused on Ethereum, being the company with the largest holdings at 98,892 ETH. The figure is worth around $ 275 million. Coinbase Global and Meitu follow with 31,787 and 15.00 ETH respectively.
Overall, there are likely many other companies holding these and other cryptocurrencies. The website also notes that this does not include ETFs and other assets under management which, if included, would increase the numbers significantly.
Proof that the crypto is considered legitimate
What this information tells us is that several large companies are getting into the crypto game. There are certainly a lot more beliefs in crypto now than there were a few years ago. There was a time when companies didn’t even consider investing in this asset class.
This is most clearly evident in the way MicroStrategy has changed its approach to bitcoin. The company and its CEO once fired BTC, but they are now among its strongest supporters.
The financial decisions made by some governments in the wake of the pandemic prompted these companies to protect themselves by diversifying. This is one of the main reasons large companies are entering the space, besides seeing potential value in the form of Decentralized Applications (dApps) and Decentralized Funding (DeFi) courtesy of ‘Ethereum.
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