2021 for Corporations - Heavy Investments into BTC

2021 for Corporations - Heavy Investments into BTC

With an increased interest in digital assets and blockchain technology, public corporations have managed to stock large amounts of Bitcoin.

The influx of corporations pushing digital assets and blockchain technology into their businesses has spiked tremendously in 2021. Microstrategy’s online seminar, held from February 3rd to February 4th, is said to be one of the key aspects that induced such a move from large companies.

The online meeting included Michael Saylor, co-founder of Microstrategy, and representatives of other digital asset-focused companies who discussed the legal concerns and integration of Bitcoin into their businesses.

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In fact, Microstrategy recently purchased an additional 2K BTC (currently worth about $94M) which amounted to a total of $6B worth of assets in the company’s possession. 

This can be seen in a graph, posted by blockchain analyst Willy Woo on January 2nd, with a noticeable correlation between the increasing price of BTC and surging volumes of digital assets held in corporate treasuries.

Currently, the largest amounts of digital assets belong to Grayscale Investments, a cryptocurrency investment company, with the total amount held being worth about $43.51B. Overall, based on the graph, ETF and corporate companies have almost 904k Bitcoin in their possession.

At the moment of writing this article, BTC sits at an average price of $46,957.32, with a slight drop of 0.47%, and a 15.64% trading volume over the past 24 hours.

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree


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