• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
bitcoin on top dollar
Nexo

Companies Holding Bitcoin On Balance Sheet Lose Nearly $7 Billion

Best Owie by Best Owie
4 months ago
in Bitcoin
0

Companies with bitcoin on their balance sheets have recorded massive losses following the crash. These companies which have gradually added BTC to their holdings had made a profit into the billions when the price of the cryptocurrency was surging. However, since the downtrend that caused bitcoin to lost about 50% of its value, they have now seen billions shaved off their balance sheets collectively.

$7 Billion Loss For Companies

Publicly traded companies have carefully but surely increased their bitcoin holdings over time. By August 2021, it was reported that institutional investors held nearly 10% of the total BTC supply. Given that the supply of BTC is limited, this volume is significant, especially when institutional entrance into the market is still in its infancy.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | MicroStrategy Is Not Done Buying Bitcoin, CFO Reveals

As the price of BTC had climbed, so had the value of the BTC the companies held. At some point reaching almost as high as 100% returns for some and surpasses that for others. But like with any market, an uptrend cannot last forever and with the crash that rocked the market late last year, institutional investors are seeing the value of their holdings dwindle.

From November 2021 to January 2022, publicly traded companies with bitcoin on their balance sheets have lost nearly $7 billion from their BTC holdings. Much of this lost value was recorded by the top players in the space, MicroStrategy, Tesla, Galaxy Digital, and Block.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The decline in value has not shaken any of the companies’ belief in the digital asset, however. Most remain committed to holding bitcoin for the long-term and others like MicroStrategy have said that they would continue to purchase BTC going forward.

Companies Getting Bullish On Bitcoin

Some of the companies which hold bitcoin on their balance sheet are known to the general public. Others are much lesser-known but still hold significant amounts of bitcoin in their balance sheets. These include publicly traded companies like MicroStrategy, Tesla, Galaxy Digital, Jack Dorsey’s Block (formerly Square), among others.

Bitcoin price chart from TradingView.com

BTC recovers to $37K | Source: BTCUSD on TradingView.com

Over the years, these companies have taken a more positive outlook on BTC, opting to invest in the digital asset over others as in the case of MicroStrategy. These companies have one thing in common, however, and that is bitcoin maximalists at their helm.

Related Reading | How This Bitcoin Movie Club Film Will Give NYC Residents A Chance To Get BTC

MicroStrategy, the publicly traded company with the largest BTC holdings in the world, is headed by Michael Saylor, a well-known BTC bull. Saylor himself has said he owns BTC personally, well before his company did, using his own returns as evidence for why the digital asset was a good bet.

The publicly-traded company with the second-largest bitcoin holdings is Tesla. Now, Tesla is headed by billionaire Elon Musk. Musk has never been one to hide his affinity for BTC and other cryptocurrencies. So it came as no surprise when the automaker revealed it held BTC on its balance sheet.

Galaxy Digital and Block are headed by bitcoin maximalists Mike Novogratz and Jack Dorsey. These companies rank third and fourth as the companies with the largest bitcoin holdings in the world. These top four companies hold almost 200K BTC between them, totaling approximately $6.9 billion at current prices.

Featured image from Forbes, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Best Owie

Best Owie

Related Posts

Bitcoin

By The Numbers: Bitcoin’s Most Volatile Day Of 2022 Compared

11 hours ago
Bitcoin

Bitcoin Spot Volume Soars, 7-Day Average Tops $10B

15 hours ago
Bitcoin

Crypto Market Madness Leads To Surge In Bitcoin On-Chain Activity

17 hours ago
Sam Bankman-Fried: Bitcoin Isn’t A Viable Payment Network

Sam Bankman-Fried: Bitcoin Isn’t A Viable Payment Network

21 hours ago
US Justice

US Justice Department Executes First Criminal Crypto Charge

22 hours ago
Texas, a huge boot in front of a store

Bitcoin & Energy Merge In Texas: 3 Giant Companies Announce New Mining Facility

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.