Which Public Companies Own Bitcoin? This Giant Is The Odd One Out In The Top 5
Portfolio Pulse from Murtuza Merchant
A new report reveals that institutional investors, including publicly traded companies, private firms, countries, and ETFs, hold over 11% of all Bitcoin, with MicroStrategy, Marathon Digital Holdings, Tesla, Hut 8 Corp, and Coinbase Global being major corporate holders. This trend underscores Bitcoin's growing acceptance as an asset class among established corporations, potentially leading to wider adoption and price stability. Bitcoin ETFs also emerge as a significant avenue for investment, holding 4.655% of the total Bitcoin supply.
March 12, 2024 | 5:43 pm
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POSITIVE IMPACT
Coinbase Global holds 9,000 Bitcoin, reinforcing its role as a major cryptocurrency exchange.
Coinbase Global's Bitcoin holdings are a testament to its central position in the cryptocurrency exchange space, likely to positively impact its stock as the cryptocurrency market grows.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 90
POSITIVE IMPACT
Hut 8 Corp holds 9,110 Bitcoin, emphasizing its focus on Bitcoin mining.
Hut 8 Corp's Bitcoin holdings are integral to its mining business model, likely to positively influence its stock price as Bitcoin continues to gain acceptance.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Marathon Digital Holdings holds 16,930 Bitcoin, aligning with its operations in Bitcoin mining.
Marathon Digital Holdings' investment in Bitcoin is a natural extension of its mining operations, likely to positively impact its stock as Bitcoin gains more mainstream acceptance.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
MicroStrategy holds 205,000 Bitcoin, indicating a strong commitment to Bitcoin as an asset class.
MicroStrategy's significant Bitcoin holdings highlight its strategic investment in cryptocurrency, potentially influencing its stock price positively due to the growing acceptance of Bitcoin.
CONFIDENCE 85
IMPORTANCE 95
RELEVANCE 90
POSITIVE IMPACT
Tesla holds 9,720 Bitcoin, making it the only non-crypto focused company among the top holders.
Tesla's investment in Bitcoin, despite not being a crypto-centric company, showcases the cryptocurrency's appeal to a broader range of institutional investors, potentially benefiting TSLA's stock.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70