The last month of 2020 was incredible for Bitcoin investing. BTC broke its all-time high by mid-month and kept climbing. It finally reached 40 thousand US dollars during the first week of January 2021. It has been an incredible run for Bitcoin, but things are different this time around.
The 2020 Bitcoin bull run was mainly fueled by institutional investors purchasing BTC. Unlike other times where retail buyers and common people drove the price rise, this time, it was the big investment funds and money managers. It’s the start of a new market and a new world for Bitcoin investing. Let’s look at the 10 biggest players holding BTC.
1. MicroStrategy inc.
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Micro Strategy is a Business Intelligence company. They specialize in the preparation of custom ordered market reports for their different clients. The company was founded in 1989 in the United States, where it has grown to have a total value of over 900 million dollars. The company has an annual revenue of around 400 million dollars, and it’s a publicly-traded company on the NASDAQ.
It is one of the first big players to buy Bitcoin in large quantities over the summer of 2020. From August to September 2020, it bought around 400 million dollars of BTC. Then, in December, it bought another 650 million dollars. Finally, by January 2020, it had purchased a total amount of 1.135 billion dollars with a final amount of 70,470 in Bitcoin investing.
In the market right now, Micro Strategy has one of the largest holdings of Bitcoin. It has not sold any of it, and perhaps it will buy even more as the year progresses.
2. Galaxy Digital Holdings
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Galaxy Digital is an investment fund that focuses on digital assets. It was founded in 2018 in New York, and it has a total value of around 245 million US dollars.
As a fund dedicated to investing in digital assets, it has always been familiar with Bitcoin. It tracks mining difficulty, rewards, market price, and many other metrics related to Bitcoin and similar cryptocurrencies.
In June of last year, it bought 134 million dollars in a single Bitcoin investing move. The amount Galaxy Digital holds of Bitcoin at the moment is 16,402 BTC. Which roughly represents half of the total market capitalization of the company.
3. Marathon Patent Group
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Marathon Patent Group is a mining company that also manages a portfolio of crypto assets and actively does Bitcoin investing. It was founded in 2010 in Canada, and it is one of the oldest operators of mining facilities in the west and world in general. Additionally, it is a publicly-traded company listed on the NASDAQ exchange.
It has a market valuation of around 1.7 billion dollars. It is one of the latecomers to institutional Bitcoin investing as it bought 150 million dollars of BTC in January 2021. It currently holds 4,813 Bitcoin in its treasury.
4. Square inc.
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Square is a financial service and online payments platform founded in 2009 in the United States. Its total value is about 4.5 billion and has annual revenues of 4.7 billion on its last report. It is one of the most used payment platforms online and one of the fastest-growing companies out of Silicon Valley.
At the last quester of 2020, Square bought 50 million dollars of Bitcoin. In a Bitcoin investing strategy, which many see as the first step to a larger order in 2021. The company is rapidly moving into the cryptocurrency space, and right now, it has 4,709 BTC in its treasury.
5. Hut 8 Mining Corp
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Another crypto mining company from Canada doing Bitcoin investing. Hut 8 was founded in 2011 in Toronto, where most of its mining facilities are located. It is mainly dedicated to Ethereum and other altcoins, so buying Bitcoin is a relatively new venture for the company. The business has a total value of around 560 million dollars.
In 2020 during the second quarter, it made several purchases of BTC totaling 36,788,573 dollars. It has accumulated 2,851 BTC to date and has not sold any of them. They also seem to be following a long play with the Bitcoin investing and may buy more in 2021.
6. Voyager Digital LTD
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Voyager Digital is a crypto brokerage company focused on wholesale buying and selling of digital assets. It was founded in 2018 in the United States and is publicly traded in the Canadian stock market. It has a total valuation of around 500 million US dollars. It made its first large Bitcoin investing in 2020 despite being in the crypto market since its founding.
In March of 2020, it bought 7,927,182 dollars of Bitcoin. It has in its treasury 1,239 BTC from that first purchase, which it has not sold to this date. Again, another crypto company that is holding Bitcoin long term.
7. Ruffer Investment Company Ltd
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Ruffer Investment is a fund from the United Kingdom founded in 1994. They manage money from people from all over the world, mainly investing in stocks and corporate bonds. In recent years they have been branching to cryptocurrencies and especially Bitcoin investing.
In November of 2020, they made a sizable purchase of 744,260,000 US dollars in Bitcoin. The company now holds 45,000 BTC on its balance sheet. It has not given any indication of expanding its crypto holding any time soon.
8. Grayscale Bitcoin Trust
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Grayscale Bitcoin Trust is a crypto fund founded in 2018. It has one of the largest Bitcoin chests from all the companies listed here. It has an impressive 632,800 BTC, which has accumulated over a two-year period in several Bitcoin investing strategies. It roughly correlated to 21 billion USD at the current prices.
It is one of the leading investors in the world of cryptocurrencies. It is also branching to other coins such as Ethereum, Litecoin, and many more. It is one of the most active funds in the crypto economy, and it has enough power to move the market when it buys or sells crypto.
9. BIGG Digital Assets Inc.
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BIGG, another digital assets fund from Canada founded in 2014. It has been in the crypto market for a while, but it has never purchased any large amounts of BTC until last year. It has under management 56 million US dollars and used 1,909,259 USD for Bitcoin investing. It currently holds 189.5 BTC on its balance sheet.
10. Neptune Digital Assets Corp.
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Another crypto fund from Canada, Neptune Digital, was founded in 2017. One of the smallest entries to our list, the company has a total valuation of around 18 million dollars. Later in 2020, at the end of November, it made a purchase of 2,346,750 USD for 75 BTC that it holds to this day. It has another long Bitcoin investing strategy, and maybe it will buy more in 2021.
Conclusion
As said before, this is a new market for Bitcoin investing. Now institutional buyers are entering the market and buying large amounts of BTC. The chances are that this trend won’t reverse, and in fact, will intensify in the future. As Bitcoin becomes an ever more important part of an investment strategy for large investment funds.
BTC is on its way to becoming the digital gold of the 21rt century. So, you are ready to jump into Bitcoin investing. Read Top 10 Buy Bitcoin Apps to Use in 2021 for a comprehensive breakdown on how to get BTC. The crypto economy is growing, and now is the time to begin your crypto journey.
