Institutions bought over 1 million BTC last year

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Last year, public companies acquired over 1 million BTC (5.57% of the cryptocurrency market supply) with a current value of about $ 40 billion, according to Bitcoin Treasures.

One of the most active institutional investors in 2020 is Grayscale Investments, which manages about 600,000 BTC.

The total value of crypto assets at the disposal of Grayscale Investments is estimated at $ 24.5 billion (as of January 11, 2021).

Grayscale Bitcoin Trust asset growth dynamics in 2020

However, the trend towards investing in bitcoin as a hedge of risks was started by MicroStrategy, which in August 2020 bought 21,454 BTC for more than $ 250 million.A month later, the company listed on the Nasdaq invested another $ 175 million in bitcoin, and in December last year – an additional $ 650 million

In total, MicroStrategy has invested $ 1.12 billion in bitcoin and now owns 70,470 BTC (over $ 2.5 billion at the time of writing). Amid bitcoin’s correction, the company’s shares fell 7.5% since January 7 – from $ 535.48 to $ 495.25.

Data: Yahoo Finance.

In October 2020, Jack Dorsey’s Square company bought 4709 BTC for $ 50 million.In December, Ruffer Investments acquired 45,000 BTC for $ 744 million.In early 2021, SkyBridge Capital Anthony Scaramucci launched a Bitcoin fund with assets worth $ 310 million.

 

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