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Bitcoin Reserves In Corporate Treasuries Tops $10 Billion


Bitcoin Reserves In Corporate Treasuries Tops $10 Billion

Bitcoin reserves in corporate treasuries has grown above $10 billion as large public and private firms look for a safe haven from the fiat fiasco.


According to data from bitcointreasuries.org, the total amount of bitcoins held as a reserve asset on the books of corporate treasuries is 785,999 bitcoins. With the price of Bitcoin to USD at $13,000 that works out at $10.22 billion.


Bitcoin web portal Bitcoin Treasuries tracks the amount of BTC held on the books of large firms. It shows 23 public and private large companies with significant amounts of Bitcoin reserves – a staggering increase from only two weeks ago, when there were only 13 companies listed.


2020 A Big Year For Corporates Turning To Bitcoin as a Reserve Asset


2020 has been a big year for corporate treasuries turning to Bitcoin as a reserve asset.

Grayscale leads the way. On this day last year, the Grayscale Bitcoin Trust (GBTC) was worth $2.1 billion is up to $5.89 billion today, and the AUM in October 2018 was a measly $225 million.


However, the biggest news of the year has been Michael Saylor and MicroStrategy using most of its liquid cash to buy 38,250 bitcoins.


At the time, CEO Michael Saylor likened MicroStrategy’s large $500 million cash treasury to a melting ice cube. He made what appears to be one of the boldest moves in corporate history and put $425 million worth of BTC on its books. Read More