With MicroStrategy and Square successively announcing that they have spent huge sums of money to buy Bitcoin, the actions of traditional large companies in the cryptocurrency market have attracted more and more attention.
Today, a news that “11 listed companies have officially announced that they hold Bitcoin, with a total of 592,800 (as shown in the picture below)” was swept in the circle, coupled with the strong market performance of the pie in the afternoon, for a while, “Cow is coming” once again became the focus of discussion in the leek group. Did the cow really come? Have so many big companies really started to buy Bitcoin? What is the truth? Let’s take a look together.
According to the heat transfer pictures, the 11 “listed companies” are ranked according to their currency holdings: Grayscale, CoinShares, MicroStrategy, Galaxy Digital Holdings, 3iQ, Square, Hut 8 Mining, Voyager Digital, Riot Blockchain, Cypherpunk Holdings and Argo Blockchain .
First clarify a concept. The so-called 11 “listed companies” are, strictly speaking, 11 listed companies or publicly tradable investment products (Note: The company itself may not be listed, but the investment products it launched can be publicly listed. Trading in the market).
1.Grayscale
The first is Grayscale, the Chinese name is “Gray”. Anyone familiar with cryptocurrency should have heard of this name. It is true that Grayscale holds BTC, but in fact, the real equity owners of these BTCs should be investors who bought the trust funds of Grayscale. Grayscale only provides these investors with a compliant bit. Currency investment exposure. Take Grayscale Bitcoin Trust (GBTC), the largest asset-management Bitcoin fund under Grayscale as an example. GBTC can be publicly traded on the OTCQX market. The latest data shows that the asset’s current management scale is approximately US$4.944 billion (approximately 44 Ten thousand BTC), which means that some compliant investors hold approximately 440,000 BTC through the investment tool GBTC provided by Grayscale, although these investors do not directly control the private keys of these BTCs.
2. CoinShares
The situation of CoinShares is almost the same as that of Grayscale, which is simply held on behalf of investors. CoinShares has issued a series of cryptocurrency-related exchange-traded products (ETP) through the group’s subsidiary XBT Provider AB, providing investors who are unwilling to directly hold cryptocurrencies with a convenient and assured investment exposure. These ETPs can be publicly traded on exchanges such as Nasdaq Stockholm and Boerse Stuttgart.
3. MicroStrategy
MicroStrategy may be the biggest surprise for the Bitcoin trading market this year. On August 11 and September 15, the company bought 38,250 bitcoins in two batches of transactions, with a total expenditure of US$425 million including handling fees.
Another little-known thing about MicroStrategy is that the company was the seller when Block.one bought the Voice.com domain name for a sky-high price of $30 million last year.
4. Galaxy Digital Holdings
Galaxy Digital Holdings, a company listed on the Toronto Stock Exchange, is often translated as “Galaxy Digital” in Chinese, and it is also Amber’s old face. Galaxy Digital’s main business includes digital asset management services, investment, trading, etc. As a comprehensive financial services company born and raised in Amber, its founder Mike Novogratz is also a well-known Bitcoin long (still calling for $50,000 at the end of September ), not holding BTC is strange.
5. 3iQ
Another fund management company. As early as June of this year, 3iQ has completed the issuance of its Bitcoin fund A shares (for all investors) and F shares (for institutions) at a price of 11.71 USD per A share and 11.47 USD per F share. , With a total value of 10 million U.S. dollars. The fund has been listed on the Toronto Stock Exchange (TSX) with the trading code QBTC.U.
6. Square
Surprise +1, not much to say, see this article yesterday for details.
7. Hut 8 Mining
A new category has appeared. Unlike all the companies mentioned above, Hut 8 Mining, a company listed on the Toronto Stock Exchange, has only one main business-mining (the name has been exposed). According to the second quarter financial report released in August, Hut 8 Mining mined 795 bitcoins in the second quarter.
8. Voyager Digital
Voyager Digital’s main business is cryptocurrency brokerage services. The reason why the company holds a large amount of Bitcoin is well understood. Voyager Digital has launched a “Voyager Interest Program”, the core of which is to pass a certain interest rate Incentive, encourage customers to deposit BTC and other encrypted assets into Voyager’s account.
9, 10. Riot Blockchain, Argo Blockchain
Let’s talk about the two together. Riot Blockchain and Argo Blockchain are listed on the Nasdaq and London Stock Exchange respectively. Like Hut 8 Mining, the reason for these two companies to hold BTC is simple—the main business is mining. .
11. Cypherpunk Holdings
Cypherpunk Holdings has relatively little information. What can be found is that this company is listed on the Canadian Stock Exchange (CSE). The company’s investment targets are relatively more famous-Wasabi and Samourai, both wallet applications. Given that Cypherpunk Holdings holds only a few hundred coins and has made multiple investments in the cryptocurrency field in the past, it is not surprising that the company chose to hold some bitcoins.
In summary, the so-called “11 listed companies have officially announced that they hold Bitcoin” is indeed an exaggeration. Regardless of several fund management companies, Galaxy Digital Holdings and Voyager Digital are both amber native companies. Mining companies such as Hut 8 Mining also needless to say. Cypherpunk Holdings’s holdings are slightly insufficient. In the end, only MicroStrategy and Square are now.
We hope that under the influence of MicroStrategy’s courage and Square founder Jack Dorsey’s publicity, more traditional companies will choose to use Bitcoin as a normal asset storage method one day in the future, but for today, the carnival seems too much. early.