![\"The](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/12\/the-bitcoin-treasuries-list-exceeds-30-billion-29-companies-hold-btc-reserves-768x432.jpg\")
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More than 1.1 million bitcoin or over $30 billion worth of the crypto asset is held by a myriad of companies, according to the web portal bitcointreasuries.org. The massive stash of bitcoin reserves held by well known companies started swelling after the billion-dollar firm Microstrategy purchased $250 million worth of bitcoin in August. Now there are 29 firms that are holding the cryptocurrency in place of traditional reserves like stocks and cash.<\/strong><\/p>\n There\u2019s been a new trend lately, as a great number of prominent companies have decided to leverage bitcoin (BTC<\/a>) for reserves rather than hold traditionally held assets. The trend started gaining ground after Microstrategy purchased $250 million worth of BTC<\/a> and shortly after, the firm continued to purchase even more bitcoin. After a few purchases, Microstrategy has upped its holdings to 70,470 BTC or .336% of the supply<\/a>. Following Microstrategy\u2019s purchase, businesses like Square Inc<\/a>. and Ruffer Investment Company<\/a> joined the bitcoin purchasing trend.<\/p>\n To-date there\u2019s an aggregate total of 29 firms listed on the website bitcointreasuries.org,<\/a> a site that tallies up all the companies in three different sections; publicly traded, private, and ETF-like holders.<\/p>\n There\u2019s a total of 15 publicly traded firms including Microstrategy Inc., Galaxy Digital Holdings, Square Inc., Hut 8 Mining Corp, Voyager Digital LTD, Riot Blockchain, Inc., Bit Digital, Inc., Coin Citadel Inc., Advanced Bitcoin Technologies AG, Digitalx, Hive Blockchain, Cypherpunk Holdings Inc., Bigg Digital Assets Inc., Argo Blockchain, and Frmo Corp. All 15 of these publicly traded firms have approximately 100,003 BTC<\/a> worth<\/p>\n The section of private companies holding bitcoin treasuries includes four private companies including Mtgox k.k., Block.one, Tezos Foundation, and Stone Ridge Holdings Group. The private companies have more than the public firms by a longshot with 317,383 BTC<\/a> worth \u2014 in all four firm\u2019s reserves.<\/p>\n There are nine ETF-like holders at the bottom of the bitcointreasuries.org list with funds like the Grayscale Bitcoin Trust, Coinshares, Ruffer Investment, 3iq The Bitcoin Fund, Grayscale Digital Large Cap, Bitwise 10 Crypto Index Fund, WisdomTree Bitcoin, 21shares AG, and ETC<\/a> Group Bitcoin ETP.<\/p>\n <\/ins> <\/ins> <\/p>\n The bitcoin (BTC<\/a>) stash held by the nine funds is approximately 734,232 BTC<\/a> worth \u2014 using today\u2019s exchange rates. Out of all 29 companies, the Grayscale Bitcoin Trust is by far the largest BTC<\/a> holder with 572,644 BTC<\/a>. Other notable holders include the Mtgox k.k. Holdings, Block.one\u2019s stash, Microstrategy\u2019s reserves, and the holdings held by Coinshares. The web page bitcointreasuries.org, does not include a few other firms that have replaced traditional assets in their treasuries for bitcoin.<\/p>\n This includes the Canadian restaurant chain Tahini\u2019s<\/a>, and the Canadian graphics software company, Snappa. Tahini\u2019s restaurant chain revealed the company swapped all of its cash reserves into BTC<\/a>, while Snappa said<\/a> the business traded 40% cash reserves for bitcoin.<\/p>\n The publicly listed Canadian company Mogo also just announced<\/a> investing 1.5% of the company\u2019s reserves in bitcoin, and plans to buy more next year. When Tahini\u2019s decided to tell its financial advisor it was purchasing bitcoin right afterward, he suggested gold. The restaurant owners said<\/a> the precious metal gold\u2019s years of being a reliable safe haven are numbered.<\/p>\n \u201cWe looked our financial advisor in the eye and told him gold will turn into a scam because of bitcoin,\u201d the company tweeted<\/a>. \u201cHe laughed and condescendingly came back with the 6,000 years argument,\u201d Tahini\u2019s added.<\/p>\n What do you think about all the companies that have purchased bitcoin for reserves? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n The post The Bitcoin Treasuries List Exceeds $30 Billion \u2013 29 Companies Hold BTC Reserves<\/a> appeared first on Bitcoin News<\/a>.<\/p>\n![\"The](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/12\/30billi.jpg\" "\\"The")
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