According to the data compiled by a financial comparison platform Bankr.nl, the top 10 companies hold 830,433 Bitcoin , currently worth approximately $15 billion. Grayscale is at the top with 509,581 BTC.
The platform released a report on Monday that shows the dominance of leading firms. The mentioned companies are holding nearly 4% of the total bitcoin supply. A total of 6 out of the top 10 companies are from the US.
US companies include, Grayscale Bitcoin Trust (509,581 BTC), Block.one (140,000 BTC), MicroStrategy (38,250 BTC), Galaxy Digital Holdings (16,651 BTC), Stone Ridge Holdings Group (10,889 BTC) and Square inc. (4,709 BTC).
The top 10 list includes companies from the UK, Switzerland, Canada and Germany. UK-based CoinShares and Switzerland-based, the Tezos Foundation holds 69,370 BTC and 24,808 BTC, respectively.
As of writing, the combined value of bitcoin holding of the top 10 companies exceeds $15 billion.
"The accumulation of Bitcoin by the highlighted companies spells good fortunes for the asset in regards to the elusive mainstream adoption. It is worth noting that, currently, the future price of Bitcoin remains debatable, but the companies demonstrate that holding Bitcoin is less risky than not having any,” the official report states.
Institutional Adoption
In recent months, US-based investment firms and technology companies have taken significant measures to increase bitcoin holding. Finance Magnates reported today that Wall Street’s leading asset management firm, Guggenheim Partners filed with the SEC to seek 10% investment exposure in Grayscale Bitcoin Trust, an amount roughly equal to $500 million as of now. The recent flurry of investments in digital assets indicating that the companies will keep accumulating crypto assets in the future to take advantage of the limited supply.
“The Acquisition of a significant amount of Bitcoin is an indicator that institutions are moving towards holding Bitcoin instead as opposed to cash-settled futures. Overall, the integration of institutional investors into the crypto ecosystem and their interest in holding is a positive sign for the asset’s prospects as another form of currency,” the report cites.
