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Approx 10% of All Bitcoin Held By Companies and Countries

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Approx 10% of All Bitcoin Held By Companies and Countries 19

According to available data records, around 10% of all circulating Bitcoin are under the Custody & ownership of companies and Exchange-traded Fund products. 

At present, almost every country and company comes to know about Bitcoin potential. And a report also claimed that Bitcoin will soon follow a bullish trend. Recently, the Nexo co-founder said that big companies are now accumulating Bitcoin rapidly because they are thinking that Bitcoin will soon recover its original price. 

According to a report of Trustnodes, around 10% of Bitcoin units are held under the ownership and custody of companies and Bitcoin-related products like Bitcoin Trust. 

5% of Bitcoin is locked in the Exchange-traded products ETPs. These are a total of 809,848 BTC, which have a value of around $40 billion at the current price of Bitcoin. These are held by stock exchanges only. 

On the other hand Grayscale fund manager firm holding 650,000 Bitcoins and Coinshare’ circa holding 50,000 Bitcoins. Besides these two firms, ETC Group is holding 18,000 Bitcoins. 

Public companies are tightly holding around 245,000 Bitcoins in total. Out of these, Microstrategy owns around 124,000 Bitcoins in its balance sheet. While Elon Musk’s Tesla company holding 42,902 bitcoins. 

Eight-Eight thousand Bitcoin held by the Square and Marathon. Coinbase’ SEC filing also revealed that Coinbase exchange is holding a total of 4,500 Bitcoins. 

Other private companies hold around 174,000 in total. Block.one holds a total of 140,000 Bitcoins. This company is under huge controversy because community members of EOS blockchain said that Block.one only created EOS Blockchain and after that company did financial works only instead of pushing the development works on the EOS blockchain. 

Bulgaria is holding 213,500 Bitcoins. Ukraine’ Politicians hold a total of 46,000 Bitcoins. While El Salvador holds only 1,400 Bitcoins. 

These are 1.5 million in total, which is approximately 10% of the entire bitcoin supply of 18.9 million. 

Read also: El Salvador working on its Bitcoin bond legal framework

Approx 10% of All Bitcoin Held By Companies and Countries

 

https://bitcoinik.com/approx-10-of-all-bitcoin-held-by-companies-and-countries/feed/

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