Publicly traded companies have now invested more than $6.9 billion in Bitcoin.
The numbers, compiled by Bitcoin Treasuries, show more than 600,000 BTC is held by companies listed on the Nasdaq, Toronto Stock Exchange, Canadian Securities Exchange, Australian Securities Exchange, London Stock Exchange, OTC Markets Group, and others.
The 15 publicly traded companies with BTC treasuries have earned a collective $500 million since their respective time of investments.
The vast majority of that total is held by Grayscale’s Bitcoin Trust, which has a treasury worth nearly $5.17 billion. CoinShares is home to the second-largest treasury, holding more than $802 million in BTC.
After its recent investments, MicroStrategy, one of the biggest publicly traded business intelligence companies in the world, holds the third-largest trove, currently worth more than $440 million. The firm now views Bitcoin as “the principal holding in its treasury reserve strategy” and has already made more than $15 million off its initial investments, which totaled $425 million.
Michael Saylor, the company’s chief executive, says he views Bitcoin as a multigenerational investment.
“I considered investing our treasury in fiat, bonds, stocks, swaps, index funds, options, real estate, commodities, precious metals, art, & intangibles before settling on Bitcoin. It seems like the ideal long duration asset – I don’t understand why anyone would want to trade it.”
Additionally, San Francisco-based payments giant Square Inc. also owns a Bitcoin treasury worth more than $54 million.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/GrandeDuc/MicroOne