Companies now own Bitcoin worth around $ 70 billion. Today we take a look at the five biggest Bitcoin holders.
Ruffer Investment Company is a London-based asset manager that first invested in Bitcoin (BTC) in November 2020. At that time, the company sold part of its gold holdings and shifted 2.5 percent of its portfolio into Bitcoin.
In total, the British investment company acquired 45,000 BTC for 744 million US dollars, which is currently worth almost 2.16 billion US dollars.
Tesla only recently joined the ranks of companies holding Bitcoin. In early February, Elon Musk said that his company had invested a total of $ 1.5 billion in BTC. At the time, that was equivalent to just under 7.7 percent of the electric car manufacturer’s total cash holdings. In addition, Tesla wants to accept Bitcoin worldwide as a means of payment in the future. The company is also playing with the idea of keeping the BTC after the payment and not selling it.
Perhaps the most interesting thing about Tesla’s BTC investment is the way it is recorded under US accounting rules. Digital assets are considered “intangible assets with an indefinite useful life.” In plain English, this means that Tesla does not recognize the appreciation of its Bitcoin position until it is actually sold. Conversely, however, the company is obliged to record impairments if the value of the Bitcoin inventory falls, even if it has not yet been sold.
As Tesla plans to hold onto its BTC for the long term, the company said in a report to the SEC that doing so could adversely affect its profitability.
CoinShares is one of the pioneers in the field of digital investment and is based on the British island of St. Helier. In addition, CoinShares was the first company in the world to launch a regulated Bitcoin hedge fund and an exchange-traded Bitcoin product.
In addition, CoinShares CEO Jean-Marie Mognetti is a staunch BTC supporter who repeatedly makes optimistic statements about the crypto reserve currency:
Investors used to think it was a risk to invest in Bitcoin. Today it is a risk not to invest in Bitcoin.
As of February 2021, CoinShares was managing over 69,730 BTC, which is currently worth just under $ 3.35 billion. This means that around 0.3 percent of all BTC is in the company’s hands.
MicroStrategy is a software company listed on the New York Stock Exchange, currently valued at $ 6.3 billion. The IT service provider can be described as a heavyweight in the crypto Space and made in recent months repeatedly hit the headlines after his BTC stocks have repeatedly increased. The company also attracted a lot of attention recently after the bitcoin giant filed a document with the SEC asking board members to start receiving bonus payments in bitcoin.
Overall, MicroStrategy holds BTC, which at press time is worth $ 4.39 billion.
This makes it the largest publicly traded company that is not an asset manager and bobsled BTC. In addition, the IT service provider’s Bitcoin inventory now comprises 91,579 BTC, which corresponds to 0.43 percent of the total BTC supply.
Asset manager Grayscale’s Bitcoin Trust dwarfs all other candidates on this list. Grayscale was founded in 2013 and has since become the world’s most popular investment platform for institutional investors when it comes to cryptocurrencies.
According to bitcointreasuries.org, the asset manager has a total of 662,254 BTC, which is split between the Grayscale Bitcoin Trust and the Grayscale Digital Large Cap Fund. In addition, Grayscale can call itself the world’s largest Bitcoin hodler, as the company owns 3.16 percent of all BTC.
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