Publicly Traded Companies Now Own $6.7 Billion Worth of Bitcoin

Publicly Traded Companies Now Own $6.7 Billion Worth of Bitcoin

Some of the largest companies in the world are now starting to buy and hold Bitcoin, with over $6.7 billion in total Bitcoin owned amongst publicly traded companies.

Companies such as MicroStrategy and Square have been in the news lately for their large acquisitions of Bitcoin ranging from 50 to 100’s of millions of dollars in allocation. These publicly traded companies, as well as others have started to seriously consider Bitcoin as a mainstream investment and are devoting significant portions of their portfolios in order to secure large amounts of Bitcoin. According to Bitcoin Treasuries there is now $6.7 billion in value locked in Bitcoin by publicly traded companies. Although some of these Bitcoin’s are owned specifically by the companies themselves, this number also includes firms like Grayscale Investments who buy and hold Bitcoin on behalf of their investors.

The amount of Bitcoin being acquired by publicly traded companies has continued to grow in recent weeks and months, with Square, a large payment processing company founded by Twitter founder Jack Dorsey, purchasing $70 million worth of Bitcoin last week. For companies like MicroStrategy, who has purchased $100’s of millions worth of Bitcoin, they are now also exposing all of their shareholders (including large organizations such as BlackRock and Vanguard) to the cryptocurrency for the first time.

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