In 2020, Public companies purchased 1,151,618 BTCs and the price reaches the new ATH

In 2020, Public companies purchased 1,151,618 BTCs and the price reaches the new ATH

2020 is a revolutionary year that has begun the massive institutional adoption of Bitcoin.


30 Dec 2020 , 11:23 @ Matey Salt

In 2020, Public companies purchased 1,151,618 BTCs and the price reaches the new ATH

2020 is a revolutionary year that has begun the massive institutional adoption of Bitcoin.

Bitcoin just reached its new all-time high of $ 28,533 (CMC) just a moment ago, so it’s time to look at what is the main driver of this growth.

As many of you know, Bitcoin was created from the very beginning, mainly to be a value holder even during the economic crisis. In 2020, therefore, its importance was fully confirmed when large publicly traded companies decided to invest a part of their portfolio in Bitcoin as part of a survival strategy during the global economic crisis.

Let’s look at which companies belong here and how much they have invested in Bitcoin:

In the chart compiled by analysts from Coin98, we can see that the largest supporter of Bitcoin is GrayScale with an investment of 579,680 BTCs. Grayscale is a leader in digital currency investing that currently manages cryptocurrencies worth $ 13 billion.

The second place went to MtGox K.K., which has 141,686 BTCs, and TOP3 is closed by Block one, a Blockchain software company with 140,000 BTCs.

The list also includes other well-known names such as MicroStrategy, which recently purchased an additional 29,646 BTCs for approximately $ 650M and also announced that in 2020, total purchases of Bitcoins exceeded more than $ 1B.

At present, these companies hold Bitcoins worth more than + $ 27 billion and 5.48% of total Bitcoin supply.

Read also: India wants to tax cryptocurrencies at 18% and increase the government budget

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