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Data: companies currently hold about $10 billion worth of bitcoins, and MicroStrategy holds the highest amount of coins
According to a report by Trustnodes on October 22, different companies, including listed companies, currently hold about $10 billion worth of Bitcoin.
Statistics website shows that MicroStrategy inc is the company with the most Bitcoin, with total Bitcoin assets reaching 1 billion US dollars, followed by asset management company Galaxy Digital Holdings. Square, the payment processing platform, holds $50 million worth of Bitcoin, ranking third. The other companies holding bitcoin mostly involve cryptocurrency, except for the new bitcoin holder, Mode Global Holdings, a British financial technology company. As a company listed on the London Stock Exchange, Mode will convert as much as 10% of its cash reserves into Bitcoin. It is the first UK listed company to announce a substantial holding of Bitcoin. The company said: “This move is part of a long-term strategy to protect investors’ assets from currency devaluation.” It is reported that the UK interest rate hit a record low of 0.1%.
Numerous studies have shown that Bitcoin can play an active role in a diversified investment portfolio and can become a reliable investment choice. Due to its inherent uniqueness, Bitcoin is still irrelevant to other asset classes. This means that individuals should use at least 1% of their funds to invest in Bitcoin; for customers who can tolerate higher risks or younger customers, Bitcoin should account for at least 10% of the investment portfolio.
Large companies have about $5 trillion in cash reserves, but it remains to be seen whether they will all convert cash into Bitcoin, forming a new trend.
Increased currency depreciation may force companies to seek diversified ways to increase value. These 23 companies already hold approximately 785,999 Bitcoins. After Mode announced the purchase of Bitcoin, its stock price rose from $46 to over $50, an increase of about 10%.