According to CryptoTreasuries, 32 companies own about $12 billion in Bitcoin, while 11 companies own over $470 million in Ethereum.
CryptoTreasuries data shows that 32 firms own a total of 325,013 bitcoin. This is around $11.7 billion in worth. In the case of Ethereum, 11 firms own 169,279 ETH worth $470 million. These data are not thorough, but they show how much emphasis is being placed on the assets.
Blockade. With 140,000 bitcoins, one has the greatest holdings. MicroStrategy and Tesla are the next two companies on the list. The former is very bullish on bitcoin, as seen by its holdings of 90,859 BTC. MicroStrategy has seen a 50 percent return on its bitcoin investment.
MicroStrategy CEO Michael Saylor has been a big supporter of bitcoin in recent months, and the company has been adding to its holdings regularly. On the other hand, Tesla has made a much smaller increase of 5%, which Elon Musk’s aggressive remarks have hampered.
The top 5 include Galaxy Digital Holdings and StoneRidge Holdings Group. Square, which is a big promoter of bitcoin, has 8,027 BTC on hand.
Last year, the company’s Cash App became a significant entry point for would-be investors, and bitcoin revenue became the company’s primary revenue stream.
Galaxy Digital appears to be significantly more focused on Ethereum since it holds the most ETH at 98,892 ETH. The sum is estimated to be worth $275 million. With 31,787 and 15,00 ETH, respectively, Coinbase Global and Meitu come in second and third.
Overall, many additional companies are likely to possess these assets and other cryptocurrencies. The website also points out that this excludes ETFs and other assets under management, which, if included, would dramatically increase the figures.
Proof that crypto is taken seriously
What this information does reveal is that a number of prominent corporations are entering the cryptocurrency market. Crypto has a lot more support now than it did a few years ago. Previously, businesses would not have considered investing in this asset type.
This is most evident in MicroStrategy’s decision to shift its stance on bitcoin. The firm and its CEO initially disregarded BTC, but they are now among its most passionate advocates.
Some governments’ financial actions in the aftermath of the pandemic have prompted these businesses to diversify in order to safeguard themselves. Apart from the potential value in decentralized programs (dApps) and decentralized finance (DeFi), courtesy of Ethereum, this is one of the main reasons big companies are entering the field.