A growing number of public companies are adding Bitcoin to their balance sheet, blockchain analysis firm Chainalysis said in last week’s Crypto Spring report.
More than $19 billion in Bitcoin is held in the public company treasuries — and only 21% of that haul is held by crypto-native firms.
Top 10 Bitcoin holdings
MicroStrategy leads the Chainalysis ranking. Michael Saylor’s business intelligence company holds 1% of the total supply of Bitcoin, a pile of 214,246 Bitcoin worth $13.5 billion.
Crypto-native companies are also well represented, holding 65,519 Bitcoin collectively. Bitcoin miners — Marathon Digital, Hut 8, Riot Platforms, and CleanSpark — are well represented, securing four of the top 10 spots.
Crypto exchange Coinbase and crypto asset-management firm Galaxy Digital are also among the biggest holders.
Non-crypto firms, meanwhile, include electric-car maker Tesla, Twitter co-founder Jack Dorsey’s Block, and financial consulting firm The Bitcoin Group.
They hold a total of 237,535 Bitcoin worth almost $15 billion, though MicroStrategy’s giant stash makes up the bulk of that amount.
“Such disclosures not only reflect the widening acceptance and legitimisation of cryptocurrency in the corporate world, but also signal a positive outlook for the market at large,” Chainalysis said.
“When prominent companies publicly commit to holding cryptocurrencies, it can stimulate investor confidence and interest.”
The report didn’t include some companies in its rankings because their filings didn’t reveal specific amounts. For example, social media forum Reddit listed in its IPO filing holdings of Bitcoin, Ethereum, and Polygon, but didn’t elaborate on how much.
Still, the report said, Reddit is among cases that underscore “the growing trend of public companies incorporating crypto assets into their balance sheets.”
Tom Carreras is a markets correspondent at DL News. Got a tip about Mt. Gox and Bitcoin? Reach out at tcarreras@dlnews.com.
