Digital Assets: Corporate Hoard Of Bitcoin Is Now In Excess Of $15B

November 20, 2020 | Digital Assets, Latest News, News

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:

Name Qty
Grayscale Bitcoin Trust 509,581
CoinShares/XBT 69,730 (private) 140,000
MicroStrategy Inc 38,250
Galaxy Digital Holdings 16,651
Square Inc 4,709


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.

Related Story:    Bitcoin Perma-Bull Mike Novogratz Is On A Roll

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Alternative Investments/ESG: TD Asset Management Launches Three New Equity ETFS With ESG Focus

TD Asset Management announced Tuesday the launch of three new ESG Equity ETFs to cater to investors looking for exposure to equity market indexes and companies with an ESG edge….
Digital Assets: “The Real Story Is Adoption,” Says Novogratz On Bitcoin
December 2, 2020     Digital Assets, News

Speaking Tuesday on CNBC’s Squawk Box, Mike Novogratz, CEO of Galaxy Digital, said large investors appeared to be switching their gold holdings to bitcoin, judging from the outflows seen recently…
Venture Capital: Voi, Swedish Maker Of E-Scooters, Closes On $160M Funding
December 2, 2020     News, Venture Capital

Voi Technology’s haul of $160 million is a mix of debt and equity in a Series C round led by The Raine Group, with participation by existing investors such as…
FinTech: Top Chinese Regulatory Watchdog Airs Fintech Concerns
December 2, 2020     FinTech, News, Regulations

In an article in a newly released book from the central government explaining the country’s economic priorities and development plan for 2035, Guo warned of a disturbance in global financial…