According to data from Bitwise, corporations now hold 688,000 Bitcoins, showing a noteworthy 16.11% increase from the previous quarter. This amount represents about 3.28% of Bitcoin’s total supply of 21 million coins, with the total value of these holdings reaching $57 billion. In the first quarter alone, 12 additional public companies invested in Bitcoin. Notably, Strategy remains the largest holder, recently acquiring $285 million in BTC, bringing its total to over 531,000 BTC. As corporate interest in Bitcoin grows, GameStop and Metaplanet are also making significant investments, signaling a potential shift towards greater adoption in the corporate world. The new FASB rule allowing fair value accounting for Bitcoin could further enhance this trend.
According to recent data from Bitwise, corporations now hold an impressive 688,000 Bitcoins. This marks a significant 16.11% increase compared to the previous quarter. Currently, these corporate holdings account for 3.28% of Bitcoin’s total supply, which is capped at 21 million coins. As of the end of Q1, the total value of these Bitcoin assets stands at about $57 billion.
In the first quarter alone, 12 additional public companies decided to invest in Bitcoin. Among them, Strategy continues to dominate as the largest holder, with a total now exceeding 531,000 BTC. Just this week, the Virginia-based business intelligence firm announced another massive purchase of $285 million in Bitcoin.
Predictions for 2025 indicate that it may be a landmark year for corporate Bitcoin adoption, according to Bitwise CEO Hunter Horsley. Companies are increasingly recognizing the value of Bitcoin as a treasury asset. Notably, American gaming giant GameStop recently adopted Bitcoin for its treasury and plans a significant purchase estimated at $1.3 billion. Similarly, Japanese company Metaplanet announced plans to acquire 10,000 BTC by year-end.
The recent adoption of new financial regulations, allowing companies to hold Bitcoin at fair value, is also expected to accelerate this trend. As Horsley pointed out on social media, the demand for Bitcoin is high, with 95,000 BTC purchased in just the first quarter of this year.
In summary, as corporate interest in Bitcoin grows, we are likely witnessing just the beginning of a significant shift in how businesses view cryptocurrency.
Tags: Bitcoin, corporate adoption, Bitwise, cryptocurrency investment, GameStop, Strategy Holdings, Q1 2023
What does it mean that nearly 700,000 BTC is held by corporations?
It means that many companies have invested in Bitcoin and own about 700,000 of them. This shows that businesses see value in Bitcoin as an asset.
Why are corporations buying Bitcoin?
Corporations buy Bitcoin as a way to invest their money and diversify their assets. Some believe it could provide better returns than traditional investments.
How does corporate Bitcoin ownership impact the Market?
When corporations hold a lot of Bitcoin, it can increase demand, potentially driving up the price. It also signals to individual investors that Bitcoin is a serious investment.
Are there risks for corporations holding Bitcoin?
Yes, there are risks, like Market volatility. The price of Bitcoin can change quickly, which could lead to significant losses for corporations.
What should investors know about corporate influence on Bitcoin?
Investors should watch how corporate decisions affect Bitcoin’s price and Market stability. Corporate interest can increase confidence in Bitcoin, but it can also create uncertainty if those companies decide to sell.