Public companies holding $ 6.86 billion in Bitcoin, Grayscale leads the way

Bitcoin holdings at public companies hit $ 6.86 billion this year as the newcomers are trying to catch up with Grayscale.

According to Coin98 Analytics, a total of 13 public companies have now invested in Bitcoin.

Grayscale takes the lead

Asset management giant Grayscale remains the biggest BTC player with 449,596 BTC ($ 5.14 billion), followed by CoinShares’ 69,730 BTC ($ 797 million).

MicroStrategy, which has made a positive impact on the media by announcing a move to the “Bitcoin standard,” has 38,250 BTC ($ 437.1 million). In fourth place is Galaxy Digital by Mike Novogratz, which controls 16,551 BTC ($ 189.1 million).

In total, 13 companies have close to 600,000 BTC ($ 6.86 billion) locked up, a growing number with Grayscale still leading so far.

In response to a tweet from the Grayscale CEO on October 12, in which he discussed the Bank of England’s view of Bitcoin, the MicroStrategy director said:

“Bitcoin is the first digital currency system capable of storing all the money in the world for all individuals, corporations and governments fairly & equally, without losing any money. If it has no intrinsic value, what is it? ”

Bitcoin shows clear divergence

Meanwhile, the past month has seen Bitcoin differentiate from both the US dollar strength and the volatility of VIX, providing new opportunities for investors looking to diversify.

According to a comparison from Cointelegraph Markets and Digital Assets Data, stocks in the form of S&P 500 and gold are currently seeing increasing correlation patterns with BTC.

Macro-Asset Profit Comparison Chart | Source: Cointelegraph / Digital Assets Data

Analysts argue that this has fueled the current prediction of a clear divergence from traditional markets – a split for Bitcoin paving the way for a significant price increase.

Leave a Reply