The Rise of Bitcoin Holdings in Public Corporations
As of 2024, public corporations collectively held a staggering 592,112 BTC, a significant increase from previous years, according to data from Bitcoin Treasuries. This marks a trend of growing interest and investment in Bitcoin by institutional players.
History of Accumulation
Back in January 1, 2024, publicly listed companies held 272,777 BTC, showing a steady increase over time. Two major spikes in accumulation occurred in 2020 and 2021, with institutions amassing close to 100,000 BTC during the first year of the COVID-19 pandemic. The following year saw a substantial rise, surpassing the 200,000 BTC mark.
Following a brief pause in momentum, public companies resumed their accumulation efforts in 2023, leading to a significant surge in Bitcoin holdings in 2024.
- Notably, Strategy, headed by Michael Saylor, holds a substantial amount of Bitcoin, totaling over 499,000 BTC as of March 2024.
- Public companies collectively held $52 billion worth of Bitcoin by March 6, representing 3% of the total Bitcoin supply.
An Overall Leap in Institutional Holdings
Not only did public corporations increase their Bitcoin holdings, but various institutional investors also saw significant growth in 2024. Private companies, exchange-traded product (ETP) managers, governments, and publicly listed firms collectively held 2,802,135 BTC by the end of 2024, compared to 1,622,439 BTC at the beginning of the year.
- Governments saw a notable increase in Bitcoin holdings, with their stash growing from 90,379 BTC to 513,791 BTC throughout the year.
- Asset managers also significantly raised their Bitcoin holdings, reaching 1,289,031 BTC by the end of 2024.
- Private companies, however, reduced their holdings from 488,270 BTC to 407,201 BTC during the same period.
Conclusion
The surge in Bitcoin holdings by public corporations and institutional investors in 2024 reflects a growing confidence in the long-term value and potential of cryptocurrencies. As more entities continue to invest in Bitcoin, the landscape of digital asset ownership continues to evolve and expand.
