In Q2 2023, global companies reached a new record in Bitcoin accumulation, significantly increasing their assets.
Institutional Bitcoin Demand Surges
According to Bitwise data, companies acquired 159,107 BTC during the quarter, increasing the total institutional Bitcoin stock to 847,000 BTC. This represents approximately 4% of the total Bitcoin supply, with institutional purchases rising by 23% compared to the previous quarter.
Bitcoin Holdings Leaders
The top five companies by Bitcoin holdings are as follows: Strategy holds 597,325 BTC, followed by MARA Holdings with 49,940 BTC and Twenty One with 37,230 BTC. Riot Platforms owns 19,273 BTC, while Japan’s Metaplanet has 13,350 BTC. Notably, GameStop has acquired 4,710 BTC, and Trump Media is considering a Bitcoin investment plan worth $2.5 billion.
The Expanding Use of Bitcoin
The involvement of companies outside the finance and technology sectors indicates that Bitcoin is evolving into a more versatile asset. Executives continue to view Bitcoin as a strategic reserve asset for diversifying cash holdings and enhancing shareholder value.
Thus, the growing interest in Bitcoin among companies highlights its role as a long-term investment asset despite market fluctuations.
