The year 2020 has turned out to be an extremely important year for the cryptocurrency industry. While the global economy was trying its best to not shut down completely, the cryptocurrency economy went sky-high.
As a result of the pandemic, millions of people moved towards the cryptocurrency industry and as a result, almost every cryptocurrency observed a growth in its value, volatility, and growth.
Out of all the cryptocurrencies, Bitcoin (BTC) has been the real King. Towards the end of August, the price of Bitcoin (BTC) went up to $12,500 before dropping to $9,800 before bouncing back to $10,200. Since then, the Bitcoin (BTC) has managed to stay above the $10,000 mark, breaking all its previous records of stability.
This caught the eyes of even more investors from the public sector who rushed to the Bitcoin (BTC) platforms for investments. As a result, the Bitcoin (BTC) holdings at the public companies have surpassed $6.8 billion in the running year. This figure has earned public companies the top spot in the Bitcoin’s (BTC) holding race, leaving behind Grayscale.
As per Coin98 Analytics, which is a crypto-asset monitoring firm, there are total of 13 public companies that have recently invested in Bitcoin.
However, Grayscale that is considered to be an asset management giant is still the largest individual company with the largest Bitcoin (BTC) holdings. Grayscale currently takes pride in holding $5.14 billion worth of BTC (449,596).
The firm with second-highest BTC holdings is CoinShare with $797 million worth of BTC (69,730). The third firm in the list is MicroStrategy that recently moved to adopt the Bitcoin Standard with 38,250 BTC that are worth $437.1 million.
Coming in fourth is Mike Novogratz’s Galaxy Digital that currently has 16,551 BTC under its belt that is worth $189.1 million.
However, the 13 public companies now hold almost 600,000 BTC that make up for a whopping figure of $6.86 billion. It has been predicted by many cryptocurrency economists and experts that more public companies will join the league.
More public company inductions are expected to take place in the next couple of years and when it happens, Grayscale would no longer be the leading firm with respect to BTC holdings.