Public Companies Embrace Bitcoin as a Treasury Asset
As the financial landscape evolves, numerous public companies are increasingly incorporating Bitcoin into their financial strategies. This shift has led to significant treasury adjustments, with companies collectively holding over $113 billion in Bitcoin as of early September. This trend underscores a robust institutional belief in Bitcoin’s potential as a reserve asset and highlights the growing acceptance of crypto-treasury models among publicly traded companies.
Key Players in the Bitcoin Treasury Landscape
Analysis reveals that the cumulative Bitcoin reserves held by publicly listed companies have exceeded the $100 billion milestone. These holdings are subject to Bitcoin’s inherent price volatility, fluctuating between $111.24 billion and $113 billion, based on data from BiTBO.
At the forefront of this trend are companies and leaders who have made Bitcoin a fundamental part of their treasury strategies. Leading this charge is a company known as Strategy, which possesses a substantial holding of 638,460 BTC, valued at approximately $73.63 billion. This accounts for a significant 64.27% of the Bitcoin held by public firms and represents 3.04% of the total 21 million BTC available.
Following Strategy are firms like Marathon Digital (MARA Holdings), which holds 52,477 BTC worth $6.05 billion. Other notable companies include XXI (Twenty-One Capital) with 37,229 BTC, Bullish with 24,340 BTC, and Riot Platforms with 19,309 BTC.
Interestingly, companies outside the traditional mining sector have also embraced Bitcoin. MetaPlanet, for instance, holds 20,136 BTC and recently expanded its share offering to raise $1.4 billion for further Bitcoin acquisitions. Additionally, companies such as GameStop and electric vehicle manufacturer Tesla are also significant Bitcoin holders.
Drivers Behind the Bitcoin Accumulation
Several factors are driving the surge in Bitcoin treasury allocations. A primary motivation is the perception of Bitcoin as a hedge against inflation, often referred to as “digital gold” due to its limited supply and deflationary nature.
Another motivating factor is enhancing shareholder appeal. MetaPlanet, for example, experienced strong investor demand leading to its recent share offering upsizing. Public announcements of Bitcoin acquisitions can lead to significant stock price increases, with reports indicating an average rise of 150% in stock value within 24 hours of such announcements.
Beyond publicly traded companies, institutional interest in Bitcoin is also growing, particularly through Spot Bitcoin ETFs. Recent data from SoSoValue shows substantial inflows, with $552.78 million entering these ETFs on September 11.
As of the latest updates, Bitcoin is trading at approximately $115,220, reflecting a 0.9% increase over the past day.
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