With the increasing popularity and acceptance of cryptocurrencies, there has been a surge in investments from top companies into the crypto space. Most of the investments in cryptocurrencies have been directed mainly at purchasing and holding Bitcoin.
Confirmed by news reports, many top companies in the world currently own Bitcoin worth billions of dollars. This surge in Bitcoin investments resulted in one of the most significant increases in the price of Bitcoin in recent times. Due to these increases in price and value, Bitcoin currently has a market cap that exceeds over one billion dollars.
The article will review some of the top companies and brands that have invested in Bitcoin recently. However, before we continue with the review, if you are interested in buying Bitcoin, this link will direct you on the best way to buy BTC.
Tesla Motors
In terms of its investment in Bitcoin, the first company we will review is Tesla motors. Tesla Motors was founded in 2003, and this company is famous for the production and distribution of electric cars. In terms of its investment into BTC, Tesla invested 1.5 billion dollars in purchasing Bitcoin.
In its filing with the U.S. Securities and Exchange Commission (SEC), the company stated that it intends to hold digital assets regularly and even hold them in the long term. Also, Tesla Motors hopes to start receiving payments using Bitcoin as a means of payment for their electric cars and products.
Tesla’s investment resulted in a sharp increase in the price of Bitcoin, as Bitcoin hit an all-time high of rising from $39,000 to $43,000 after the announcement was made.
MicroStrategy
The second company we will review is concerning their investment in Bitcoin is MicroStrategy. MicroStrategy is a renowned business analytics company. The company also develops mobile software and offers users their cloud-based services.
MicroStrategy has incorporated Bitcoin as its primary asset reserve and presently owns over 71,079 BTC in reserve. The total value of their investment currently exceeds 3 billion dollars. The CEO of this company Michael Saylor has also personally invested in Bitcoin. He recently stated that he was buying $1000 worth of bitcoin every second and currently owns over 17,732 BTC.
Galaxy Digital Holdings
Another company that has invested in Bitcoin recently is Galaxy Digital Holdings. This company was founded in January 2018 by Michael Novogratz, and the company operates as a Crypto-focused merchant bank. The company presently owns over 16,402 BTC, which is currently worth over $770 million.
Grayscale Bitcoin Trust
This list won’t be complete without including Grayscale Bitcoin Trust. This company has a Bitcoin portfolio worth over $30 billion. To put that in proper context, Grayscale Bitcoin Trust currently owns 3% of the total volume of Bitcoin in circulation.
The company stopped business for some time. However, they fully opened their doors for business, and they continue to invest in Bitcoin. On its first day back in business on January 12, 2021, the company purchased 2,172 BTC.
CoinShares Group
Another company that has huge investments in cryptocurrencies is CoinShares Group. This company is considered by many to be a pioneer in cryptocurrency investment. CoinShares Group is the first company to own a Bitcoin hedge fund. The company has about 69,730 BTC, which monetary value is worth over $3.2 billion.
Ruffer Investment Company
A more recent addition to companies with investments in Bitcoin is the Ruffer Investment Company. Based in London, the Ruffer Investment Company is an asset management company. In December of 2020, this company invested $870 million in Bitcoin by purchasing 45,000 BTC. The reason for their investment is stated in a press release where the company felt that investment in Bitcoin would serve as an insurance policy against the continuous devaluation of major fiat currencies.
Their investment has paid off in the short term because their digital assets are currently worth over $2 billion after three months of investing in Bitcoin.
3iQ The Bitcoin Fund
3iQ The Bitcoin Fund is another company with huge investments in Bitcoin. This crypto-asset manager currently owns over 22,590 BTC. The total worth of which exceeds $1 billion.
This company has been listed on the Canadian stock exchange and the Gibraltar Stock Exchange. As a result, Canadians can now invest in Bitcoin using the services of this asset manager. Gemini exchange owned by the Winklevoss twins acts as custodians for 3iQ.
Square Inc
Square in is a payment platform that provides software and hardware payment solutions. Square is owned by Jack Dorsey, the CEO of the social media app Twitter.
On October 8, 2020, Square Inc moved 1% of its assets into Bitcoin. As a result, the company spent 50 million dollars purchasing 4,709 bitcoins. This purchase caused an 8% increase in the price of Bitcoin at the time. In real-time, the price moved from $10,500 to $11,300.
Conclusion
The investment level in Bitcoin is quite massive and shows growing confidence by many top companies that Bitcoin is the world’s future currency. In addition to the companies listed above, many other companies have made significant investments in Bitcoin.
Some of these companies include Hut 8 Mining, a bitcoin mining company currently listed on the Toronto Stock Exchange (TSX), and the Argo Blockchain of the London Stock Exchange. Similarly, the Toronto Stock Exchange (TSX) and the Argo Blockchain of the London Stock Exchange currently hold Bitcoin as an asset reserve. Other companies like ETC Group Bitcoin ETP (BTCE), ETC Group Bitcoin ETP (BTCE), and Grayscale Digital Large Cap Fund also hold significant investments in Bitcoin.
