Companies Increase Bitcoin Reserves: A New Strategy

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by Giorgi Kostiuk

2 years ago

Bitcoin accumulation has become a new trend among public companies, reflecting a significant shift in their financial strategies. With the approval of BTC ETFs, the legitimacy of cryptocurrencies in the US has increased substantially.

Companies Buying Bitcoin

The US, China, and many other nations are actively accumulating Bitcoin (BTC). Recently, KULR Technology Group announced the acquisition of 217.8 BTC valued at 21 million dollars, as confirmed by an official SEC filing.

Who Holds How Much Bitcoin

The US currently possesses 207,189 BTC, valued at 19.875 billion dollars. China and the UK hold 194,000 and 61,000 BTC, respectively. Total government BTC reserves amount to 529,558, representing 2.52% of the maximum supply.

Company and Government Reserves

Companies like Block and Tether hold 140,000 and 82,454 BTC, respectively. Total private company reserves amount to 366,738 BTC. ETFs like BlackRock hold even larger amounts, indicating strong institutional demand.

Collectively, all these reserves represent approximately 14% of the total BTC supply, underscoring the importance of cryptocurrencies in modern financial strategies.

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