BTC Balance Sheets: 42 Companies Hold 1.3 Million Bitcoin Worth More Than $65 Billion

BTC Balance Sheets: 42 Companies Hold 1.3 Million Bitcoin Worth More Than $65 BillionSince the company Microstrategy shifted a lot of its treasury reserves into bitcoin, a great number of companies have followed the firm’s lead. According to the web portal, bitcointreasuries.org, data shows that 42 companies are now represented on the list and the businesses hold more than $65 billion worth of bitcoin. The Corporate Bitcoin Stash- […]
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Crypto Financial Services Firm Blockfi Launches Competitive Bitcoin Trust

Crypto Financial Services Firm Blockfi Launches Competitive Bitcoin TrustThe cryptocurrency financial services firm Blockfi has launched a bitcoin-based trust that offers custody from Fidelity Digital Asset Services. Blockfi’s investment vehicle aims to give investors exposure to the leading crypto asset as bitcoin assets under management (AUM) was over $29 million on February 8, 2021. Blockfi Launches a Competitive Bitcoin Trust With a Sponsor […]
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The Bitcoin Treasuries List Exceeds $30 Billion – 29 Companies Hold BTC Reserves

The Bitcoin Treasuries List Exceeds $30 Billion - 29 Companies Hold BTC ReservesMore than 1.1 million bitcoin or over $30 billion worth of the crypto asset is held by a myriad of companies, according to the web portal bitcointreasuries.org. The massive stash of bitcoin reserves held by well known companies started swelling after the billion-dollar firm Microstrategy purchased $250 million worth of bitcoin in August. Now there […]

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Grayscale now holds half a million Bitcoin

Grayscale’s Bitcoin Trust now holds more than 500,000 Bitcoin, surpassing $8.3 billion in value.

Cryptocurrency fund manager Grayscale Investments now holds more than 500,000 BTC in its Bitcoin Trust. 

According to a Nov. 16 post, Grayscale now holds to $8.35 billion worth of Bitcoin— equating to 2.69% of Bitcoin’s (BTC) outstanding supply and market cap.

But with Chainalysis estimating that around 3.7 million BTC have been lost, Grayscale may actually now be in possession of 3.37% of Bitcoin’s remaining circulating supply

Appealing to institutional investors who are prepared to pay a premium to buy and hold cryptocurrency through the security of a regulated fund, shares in the Grayscale Bitcoin Trust currently represent $15.62 worth of Bitcoin each, yet change hands for $18.86. This equates to nearly a 19% premium. Grayscale also charges an annual fee of 2%.

The Grayscale Bitcoin Trust has aggressively accumulated Bitcoin during 2020, with the amount of BTC held by the fund increasing almost 50% in the past six months. That’s a steep rise in 2020 for a fund that launched seven years ago and suggests snowballing institutional interest.

Last week, the fund reported its largest-ever weekly in-flow, taking in 15,907 BTC worth $215 million.

Grayscale’s Ethereum Trust also ramped up its purchases during 2020, and now holds roughly $1.175 billion worth of Ether, or 2.24% of ETH’s entire capitalization.

Grayscale’s eight other crypto funds currently manage nearly $400 million worth of assets, bringing the total value of digital assets managed by the firm to $9.9 million.

Grayscale’s digital asset holdings: Grayscale
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Visual Interpretation of Bitcoin’s Supply Shows the Digital Asset’s Unique Scarcity

Visual Interpretation of Bitcoin's Supply Shows the Digital Asset's Unique ScarcityThe Bitcoin network has recently crossed over the 18.5 million mark, as far as the number of bitcoins currently minted into circulation. However, even though over 18 million coins have been minted to-date there’s a number of different elements that affect the distribution of all the coins in existence. Elements that affect bitcoin distribution include […]

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