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
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…