Investing in Bitcoin from professional large investors has now become common practice in the blockchain industry. They have been investing in crypto for several years , but it was only in 2020 that their investments began to grow at a tremendous pace.
A year later, professional interest in Bitcoin continues to break new records. The main players in this field are still MicroStrategy, Tesla and Square. Let’s talk about the size of their investments in more detail.
As a reminder, MicroStrategy has indeed become the driving force behind the massive investment in Bitcoin among globally popular companies. In August 2020, the company invested $ 250 million in BTC by purchasing 21,454 bitcoins. A few months later, the head of the company, Michael Sailor, made it clear that he did not plan to get rid of the purchased coins. The giant allegedly plans to keep them «for at least a hundred years . «
Since then, MicroStrategy’s Bitcoin holdings have grown dramatically. As of today, the company has 108,992 BTC at its disposal.
The last time the company acquired cryptocurrency was in the second half of the summer, and the investment was disclosed on August 24. MicroStrategy bought 3,907 BTC for $ 177 million in cash at an average exchange rate of $ 45,294.
The fact of the late announcement became apparent due to the price difference. Yet on the day of the announcement, Bitcoin was trading at $ 49,000.
Who buys the most bitcoins?
According to Bitcoinist , about 8 percent of the total BTC supply is now in the wallets of large investors. The first representatives of the rating of large companies hold hundreds of thousands of bitcoins, while other firms do not want to lag behind them and are also gradually purchasing a digital asset.
Most of the volume of coins purchased by them is now in the «green zone», that is, they can be sold for profit. In dollar terms, the total value of bitcoins bought by large investors reaches 77.8 billion. As the data of the Bitcoin Treasuries service show , some large investors have earned more than 97 xx on their investment.
Let’s remind, «X» refers to the amount of funds earned for investment. If the investor has made two X’s, then he has doubled the initially invested amount. If ten X’s, ten times. Etc.
This is the list of the largest Bitcoin investors among large companies. We have marked the amount of their BTC with a rectangle.
In total, the ranking includes 61 institutional investors. Some of them only bought 2 BTC, while others hold thousands of coins. Cryptocurrency company Grayscale is the largest holder of the main digital asset with 654,885 bitcoins in its wallets, and almost all of these coins are owned by Grayscale trusts. MicroStrategy’s subsidiary MacroStrategy currently owns 108,991 BTC with a base value of $ 2.9 billion, which is the volume of procurement spending. The current value is $ 5.1 billion, which means that the company has racked up more than 100 percent of the profits from the growth of the crypto market.
Professionals have just begun to enter the industry en masse, which means that the coming decade may be a period of unimaginable growth in cryptoassets. From an unknown hobby of cypherpunks, Bitcoin has gradually turned into a recognizable and desirable brand. In this regard, it is possible to predict the strengthening of the current trend and the popularization of coins around the world.
This event will clearly be facilitated by the recognition of Bitcoin as a full-fledged means of payment in El Salvador. This will happen on September 7, that is, a little more than a week is left to wait for the transformation of BTC into the national currency in this country. Most likely, in this case, other states will want, if not to recognize bitcoins as a means of payment, then at least invest part of their national reserves in it. Given the current hype around digital assets, such a decision seems quite reasonable.
We believe that more and more large professional investors will join the cryptocurrency niche. Still, the current coin buyers in the face of large companies give an example to others, and the same bitcoins have a limited maximum supply of 21 million . Accordingly, some will get involved with coins, including in order not to miss the chance to become the owner of BTC at current prices.
Still, Bitcoin has enough potential for growth. As recently announced by experts from one of the largest asset management companies in the world, Fidelity Investments, by 2035, BTC may well be valued at $ 100 million. The corresponding forecast was announced in the report of the company’s analysts.