Public Companies’ Bitcoin Holdings Surge by Nearly 200% in a Year

Publicly traded companies have dramatically increased their Bitcoin holdings from $7.2 billion to $20 billion over the past year, marking a near 200% rise.

Current data shows that 42 companies collectively own 335,249 BTC. This surge follows MicroStrategy’s pivotal purchase of 21,000 BTC in August 2020, which has since grown to 226,500 BTC.

A recent survey by Nickel Digital Asset Management found strong institutional support for Bitcoin. Out of 200 institutional investors across various countries, 75% favor Bitcoin holdings by public companies, with 26% advocating for it as a reserve asset.

The survey also predicts that 58% of respondents believe 10% or more of public companies will hold Bitcoin in the next five years.

Nickel Digital’s CEO, Anatoly Crachilov, noted that institutional investors are increasingly seeing Bitcoin as a valuable reserve asset, helping to hedge against currency devaluation.

Currently, the Bitcoin held by these companies constitutes just 1.6% of Bitcoin’s total supply.