Being a safe currency, Bitcoin starts to take the place of other assets such as gold, silver, or foreign currencies. The big and well-known companies are now investing in bitcoin, which shows its reliability and increases the confidence of investors and traders even for those who want to save for the future.
An American company Microstrategy inc has just made Bitcoin its main reserve asset to beat fiat inflation and Microstraregy Inc. invests 425 million dollars in bitcoin, this decision is an institutional approval and an important seal that Bitcoin is a safe haven and a mature asset. Now other major companies are following their bitcoin strategy.
The CEO of Microstrategy inc. Michael Saylor says, “This investment reflects our belief that bitcoin, being the most adopted digital currency in the world, is a trusted store of value and an attractive investment asset with more potential for long-term appreciation than holding cash.”
Top Bitcoin Treasure Holders
These days specifying a person or company about their Bitcoin asset is very difficult, as momentarily changing Bitcoin prices and rates are making big differences in calculations.
According to a website that is curating bitcoin assets held in reserve by publicly traded companies around the world, there are approximately 13 companies with a total of 598,240 BTC or 2.86% of the total 21 million Bitcoins, some of them have not been discussed. Learn more about top bitcoin treasure holders from Bitcoin Prime trading platform.
Grayscale Bitcoin Trust
Unsurprisingly, grayscale investments are leaders in this regard. According to the Bitcoin Trust Fund (GBTC), owner and tracker of the price of bitcoin, this US-based company owns 449,597 BTC worth 5.2 billion of dollars that currently represent 2.14% of the digital assets of the total circulating bitcoin. supply.
the company has obtained up to 70% of all newly mined bitcoins in the year 2020 listed on the OTCQX market, nearly doubling the portfolio in the process.
The grayscale trust maintains this on behalf of accredited corporate investors, who mostly value privacy and store-of-value credentials, while reluctant to gain direct exposure to the asset.
Microstrategy has managed to grab attention and all the headlines news in recent weeks left behind the grayscale that is pioneering the Bitcoin industry.
It is a NASDAQ listed company that develops mobile software and provides cloud-based services. It has bought 425 million bitcoins in the previous two months and makes it the main reserve asset of the company.
This is a US-based multi-million dollar company that has 38,250 BTC, this measure indicates a growing interest and adoption by the corporate sector, the portfolio is more than 435 million dollars at current exchange rates.
There are many companies on the list that invested in bitcoins instead of formal savings like gold, silver, and other commodities. People now prefer savings in virtual assets.
Bitcoin protects savings
The year 2020 was surprisingly very disappointing and has brought many things, one of them is Covid 19 that almost all nations and countries suffer not only socially but also economically, many top-tier companies drop to zero and unemployment increases.
Much applause from the stock market and the value of money went down, people who have invested in different types of stocks go zero in just a few moments, so there was no good asset to invest in except Bitcoin, so the world began to invest in it.
For fear of inflation or the possibility that governments will cease or confiscate public savings accounts, many people bought Bitcoins to protect their savings, the same happened in recent years when purchases of Bitcoins increased in Cyprus for fear of confiscated or taxed savings accounts.
Bloomberg reported that there are around 260 bitcoin wallets with over 200 million in Bitcoin and the total count of millionaires is uncertain as people may have more than one or two wallets.
The risks of using Bitcoin as a reserve asset
Investing in Bitcoin was not so easy as now there are now so many good and legitimate platforms that provide good customer service, and Internet security has developed so much that it is not easy to access any Bitcoin Account.
Because it is not controlled by any government or country, that’s why the fall of any country or inflation does not affect the value of Bitcoin, which makes it safer and risk-free.