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HomeNewsBitcoin: Asset Managers Hold $ 70B! - financial trends

Bitcoin: Asset Managers Hold $ 70B! – financial trends

Asset managers have up to 4% of the total Bitcoin (CRYPTO: BTC) inventory while both private and public corporations got 1% each.

What happened

According to Buy Bitcoin Worldwide, asset managers now hold a total of nearly $ 70 billion worth of Bitcoin – or 1,476,568 BTC, which is 7.85% of the current 18,797,968 BTC in circulation.

The largest holder is Grayscale Investments – the issuer of the largest tradable Bitcoin fund Grayscale Bitcoin Trust (OTC: GBTC) – which controls 654,600 BTC worth around $ 31 billion.

Of the $ 70 billion mentioned, BTC 816,379 worth $ 40.1 billion is owned by 14 Bitcoin fund issuers and asset managers, including Grayscale Investments. CoinShares’ XBT provider is the second largest fund at 48,466 BTC ($ 2.4 billion), while the remaining 12 issuers hold 113,313 BTC.

What else?

The data also shows that 34 publicly traded companies have Bitcoin on their balance sheets – a total of 216,692 BTC, valued at over $ 10 billion; almost half of it is from MicroStrategy Incorporated (NASDAQ: MSTR) held.

According to recent reports, MicroStrategy recently purchased an additional 3,907 Bitcoin, increasing its inventory to 109,000 BTC, worth approximately $ 5.15 billion. Tesla Inc (NASDAQ: TSLA) also holds just under 43,000 BTC worth nearly $ 2.1 billion.

Get a free PDF report on Grayscale Bitcoin: Download here for free

When it comes to private companies, it holds up EOS (CRYPTO: EOS) – Creator Block.One the most of it – 140,000 BTC worth $ 6.8 billion.

After all, the Bulgarian government allegedly holds 215,519 BTC, or $ 10 billion, while the Ukrainian government holds 46,351 BTC, worth $ 2.2 billion.

Course development

The leading cryptocurrency was trading at $ 47,863, down 1.1% in the last 24 hours and 2.9% in the last week.

Buy, hold or sell – your Tesla analysis from 08/30 provides the answer:

How will Tesla develop now? Is your money safe in this stock? The answers to these questions and why you need to act now can be found in the latest analysis of Tesla shares.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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