Bitcoin breaks the $97,000 mark.
Bitcoin today strongly breaks the $97,000 mark, once again setting a historical record. As the price of bitcoin continues to soar, the global call for including bitcoin in national reserve assets is growing louder, while many institutions are also accelerating their pace of increasing bitcoin holdings.
This article from PANews summarizes the bitcoin holdings of major institutions based on the latest data from BitcoinTreasuries.com. As of November 21, 93 entities (ETFs, countries, publicly listed companies, and private companies, etc.) worldwide publicly hold over 2.728 million bitcoins, accounting for nearly 13% of the total bitcoin supply. This trend further indicates that institutional investors have gradually replaced retail investors as the dominant force in the market during this bull market.
ETF: Asset value exceeds $110 billion, IBIT holdings account for over 38%.
Bitcoin spot ETF has become an important holding channel for institutions. Data from BitcoinTreasuries.com shows that as of November 21, the number of bitcoins held by bitcoin spot ETFs exceeds 1.231 million, currently valued at over $11.689 billion, accounting for more than 5.8% of the total bitcoin supply; at the same time, The Block data shows that since its launch at the beginning of this year, the cumulative trading volume of the US bitcoin spot ETF has exceeded $520 billion.
In terms of asset scale, the top three bitcoin spot ETFs are BlackRock IBIT, Grayscale GBTC, and Fidelity FBTC.
Countries: Hold nearly 530,000 bitcoins, with the US, China, and the UK accounting for nearly half.
Multiple countries globally have become important holders of bitcoins. Moreover, PANews previously reported that more and more governments are reassessing the asset value of bitcoin, and many have openly advocated for including bitcoin in national reserve assets.
According to statistics from BitcoinTreasuries.com, as of November 21, the known 9 countries collectively hold over 529,000 bitcoins (valued at approximately $50.24 billion), accounting for 2.5% of the total bitcoin supply. Among these countries, the US, China, and the UK are the main players, holding 207,000, 194,000, and 61,000 bitcoins respectively, together accounting for 46.2% of the total holdings of these countries.
However, most of the bitcoins held by these countries were obtained through law enforcement actions, while only countries like Bhutan and El Salvador obtained bitcoins through mining or purchasing with real money.
Publicly listed companies: Hold assets valued at over $42.2 billion, with MicroStrategy accounting for nearly 80%.
Publicly listed companies are becoming important forces in bitcoin allocation. Data from BitcoinTreasuries.com shows that as of November 21, 43 publicly listed companies directly hold nearly 445,000 bitcoins, currently valued at approximately $42.22 billion, including MicroStrategy, Marathon Digital, Riot Platforms, Tesla, Hut 8, and Coinbase Global.
For example, MicroStrategy holds over 331,000 bitcoins (valued at over $31.43 billion), accounting for nearly 74.4% of the total bitcoin holdings of publicly listed companies. At the current price of approximately $97,000 per bitcoin, MicroStrategy's holdings have an unrealized gain of over $14.6 billion.
With the help of bitcoin investment strategies, MicroStrategy has entered the top 100 publicly listed companies by market value in the US, driving its stock price up. Tradingview data shows that its stock MSTR had a trading volume of 33.27 billion dollars yesterday (November 20), second only to Nvidia. Currently, MicroStrategy has not stopped buying bitcoins; the institution recently announced it would increase the issuance scale of zero-interest convertible senior notes to $2.6 billion, with some net proceeds used to purchase bitcoins, and also disclosed that there is still an unused quota of $15.3 billion for purchasing bitcoins through stock issuance and sales.
Bitcoin mining company Marathon Digital holds nearly 26,000 bitcoins, currently valued at approximately $2.46 billion. The bitcoins held by Marathon Digital mainly come from mining and fund purchases; its third-quarter financial report shows that it produced 2,070 bitcoins and purchased 6,210 bitcoins during that quarter. Marathon Digital is also issuing $850 million in convertible notes, which may be expanded to $1 billion, to repurchase debt and acquire bitcoins.
After Tesla announced the purchase of $1.5 billion in bitcoins in 2021, it sold 4,320 bitcoins in March 2021, and later sold 29,160 bitcoins in 2022, totaling about 75% of its bitcoin holdings. Currently, Tesla still holds 9,720 bitcoins, valued at over $920 million, but this accounts for less than 0.7% of Tesla's total assets ($119.8 billion) and only 0.046% of the total bitcoin supply.
Private companies: Reserve value exceeds $34.8 billion.
Many private crypto institutions also hold a significant amount of bitcoins. Data from BitcoinTreasuries.com shows that as of November 21, 12 private companies, including Block.one, Tether, Xapo Bank, BitMEX, and Mt. Gox, collectively hold approximately 367,000 bitcoins, currently valued at over $34.81 billion, accounting for 1.7% of the total bitcoin supply.
For example, Block.one holds 140,000 bitcoins, valued at over $13.28 billion, mainly sourced from ICO fundraising. Tether has held over 82,000 bitcoins, valued at over $7.82 billion, since announcing in 2022 that it would use bitcoin as part of its asset reserves; crypto bank Xapo Bank holds nearly 34,000 bitcoins, valued at over $3.69 billion, and the institution became the first in the UK to offer interest-bearing bitcoin and fiat currency bank accounts this year.
Bitcoin mining companies: Holdings account for less than 0.3% of the total bitcoin supply.
Crypto mining companies are also important holders of bitcoins. Data from BitcoinTreasuries.com shows that as of November 21, 14 bitcoin mining companies collectively hold over 61,000 bitcoins, currently valued at $5.84 billion, accounting for less than 0.3% of the total bitcoin supply. Among them, the aforementioned Marathon Digital holds the most bitcoins among bitcoin mining companies, far exceeding other similar companies.
Following closely is Riot Platforms, which holds about 10,000 bitcoins, but according to its latest quarterly financial report, the company has incurred significant losses, with the vast majority of its revenue coming from bitcoin mining; Hut 8 ranks third with 9,109 bitcoins and is committed to building AI-related infrastructure after receiving $150 million in investment in June this year, and has purchased a large number of mining machines from Bitmain and collaborated on launching new mining machines.
This article is authorized for reprint from: PANews.
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