Publicly traded companies have dramatically increased their holdings of BTC over the past year from $7.2 billion to $20 billion, an increase of nearly 200%.
The current Then show that 42 entities hold a total of 335,249 BTC. This increase follows MicroStrategy’s most significant purchase of 21,000 BTC in August 2020, which has since grown to a whopping 226,500 BTC.
A recent study by Nickel Digital Asset Management found strong institutional support for BitcoinOf 200 institutional investors in different countries, 75% support public companies owning the leading cryptocurrency and 26% favor it as a reserve asset.
The survey also found that 58% of respondents believe that 10% or more of public companies will own Bitcoin in the next five years.
Anatoly Krachilov, CEO of Nickel Digital, noted that institutional investors are increasingly viewing BTC as a valuable backup asset that helps hedge against currency devaluations.
Currently, these companies’ Bitcoin holdings only make up 1.6% of the cryptocurrency’s total supply.
