As on November 20, companies hold over 842K of bitcoin.

According to Clark Moody Bitcoin Dashboard, corporate treasuries hold 842,229 bitcoin (BTC) valued at $15.8 billion and representing 4.54% of current supply.

That quantity is also confirmed by Bitcoin Treasuries. Top holders include:

Reasons for stockpiling BTC

According to Coin Telegraph, MicroStrategy’s investment in bitcoin (BTC) of $425 million acted like a catalyst and unleashed an “institutional frenzy” of buying in the crypto.

The reasons for investment by companies and institutions in BTC are:

• BTC is a hedge against inflation
• It also has scope for appreciation in value over the long term
• It is a compelling store of value
• Corporate holdings take away supply for the long term, and are therefore bullish for BTC
• Massive stimulus measures across the globe are further fuel for appreciation in BTC
• Negative interest rates and other easing measures also are beneficial

Morgan Creek Capital Management

These factors were echoed by Mark Yusko, founder and CEO of investment firm Morgan Creek Capital Management, when speaking with CNBC’s Fast Money host Melissa Lee on Thursday.

He said that the central banks of U.S., Europe and Japan had no choice but to devalue their currency and were likely to continue to do that.

“Money is being devalued. Over the last three years, stocks are up about 6% a year – not really that great,” Yusko said. “But if you denominate in gold instead of dollars they’re down 44%; if you denominate in bitcoin it’s way worse.”

“Before people’s eyes, you’re having your wealth stolen through inflation,” he said.

However, BTC and gold are doing well this year.

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