Like with stocks, institutional holding in bitcoin-the most popular cryptocurrency and the largest in terms of both market capitalization as well as volumes traded is highly important.
The list has been provided in the backdrop of institutional interest in the Bitcoin receding (for the first quarter of 2021) and aggressive buying by the retail investors. In fact for Indians, for whom cryptocurrencies are a novel class of asset and have been exposed to high volatility, there are reports that suggests Indians have been pouring in billions into the asset class.
In fact the massive run up in the bitcoin (BTC) is also attributed to wide scale institutional backing. In April this year, Bitcoin scaled to an all time high price of sub $65000.
As per the recent report, Microstrategy already owned 92,079 bitcoins i.e. worth $3 billion considering prices in early June this year. And while the recent price crash has led the majority of stakeholders to be skeptical of the bitcoin's prospect, Microstrategy in order to increase its holdings in bitcoin the company has issued corporate grade bonds to fund its bitcoin purchase. After the latest addition in June 2021, the company's holding of bitcoin is in excess of 1,00,000 and is valued over $3 billion.
Mircostrategy with Ticker as MSTR is a business software firm and listed on NASDAQ. The company is into producing mobile software and also provides cloud based services.
Tesla- the electric vehicle firm and its boss-Elon Musk has been of late a big influencer, moving the price of crypto drastically. As of recent reports, the company's bitcoin holding values at $1.26 billion. This is half of its earlier valuation which has taken a hit after the China cryptocurrency clampdown.
Recently supporting the move of continuing to hold the crpto, Elon Musk tweeted a symbols for diamond hands i.e. frequently used signal on Reddit which signifies the intention of stubbornly holding the stock or an asset.
The investment in bitcoin is around 7.7% of the company's $19.384 billion cash holding, as of Q42020.
3.Galaxy Digital Holdings:
This is a crypto focused merchant bank and as of March, 31, 2021, the company has a substantial holding in BTC of approximately $761.8 million, excluding non-controlling interests. The company as per https://www.buybitcoinworldwide.com/treasuries/#public holds 16,400 BTCs and command a value of $566,933,588 as of today.
The company's capabilities range from trading, investment management, principal investments, asset management, custody, investment banking, mining, prime brokerage and portfolio and tax.