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Institutional Investors Now Hold $70B Of Bitcoin: Report

·2 min read

Asset managers accumulated as much as 4% of Bitcoin's (CRYPTO: BTC) total supply, while both private and public companies both raked in 1% of it.

What Happened: According to data reported by Buy Bitcoin Worldwide, asset managers now hold a total of slightly less than $70 billion worth of Bitcoin — or 1,476,568 BTC, equivalent to 7.85% of the coin's current circulating supply of 18,797,968 BTC.

The top holder is Grayscale Investments — the issuer of the top tradable Bitcoin fund Grayscale Bitcoin Trust (OTC: GBTC) — which controls 654,600 BTC worth around $31 billion.

Of the aforementioned $70 billion, 816,379 BTC worth $40.1 billion is owned by 14 Bitcoin fund issuers and asset managers, including Grayscale Investments. CoinShares’ XBT Provider is the second top fund with 48,466 BTC ($2.4 billion), while the remaining 12 issuers hold 113,313 BTC.

What Else: The data also show 34 public companies holding Bitcoin on their balance sheet — a total of 216,692 BTC, worth over $10 billion; nearly half of it is held by MicroStrategy Incorporated (NASDAQ: MSTR).

According to recent reports, MicroStrategy recently bought an additional 3,907 Bitcoin, bumping its holdings to 109,000 BTC, which approximately counts for $5.15 billion.

Tesla Inc (NASDAQ: TSLA) also holds just under 43,000 BTC worth nearly $2.1 billion.

Read also: Morgan Stanley Bought 0M Shares Of Grayscale Bitcoin Trust

When it comes to private companies, EOS (CRYPTO: EOS) creator Block.One holds most of it — 140,000 BTC worth $6.8 billion.

Lastly, Bulgaria's government purportedly holds 215,519 BTC, or $10 billion, while Ukraine's government holds 46,351 BTC worth $2.2 billion.

Price Action: The leading cryptocurrency was trading at $47,863, losing 1.1% in the past 24 hours and 2.9% over the past week.

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