Topic: What are some major institutions investing heavily in bitcoins in 2024 ? - page 2. (Read 358 times)

Bitcoin Treasuries have information about institutional investors, public companies and governments too.

MicroStrategy is a first name to mention and they purchased bitcoins four times since 2024.  They already bought 25,095 bitcoins in 2024.
https://saylortracker.com/

Companies from Wall Street that purchase Bitcoin on behalf of their customers are other entities to mention but most of bitcoins they bought are not for themselves, but for customers, and those bitcoins were stored, secured by third party custodians like Coinbase.
https://www.coinglass.com/bitcoin-etf

   
1.Barry Silbert is the founder of Digital Currency Group, which invests in popular cryptocurrency and blockchain companies.
Digital Currency Group has invested in 218 blockchain- and cryptocurrency-related companies.Other portfolio companies include Genesis, a liquidity provider—an entity that funds a pool with cryptocurrency—for cryptocurrency buyers and sellers in the over-the-counter market. Digital Currency Group also invests in Grayscale Investments, which manages the Bitcoin Trust (GBTC), an investment vehicle that holds $15.6 billion in bitcoin as of Feb.19, 2023, which gives investors exposure to its price movements without requiring them to hold any directly.
2. Michael Saylor is the CEO of MicroStrategy, which is investing heavily in Bitcoin.
The co-founder and CEO of business intelligence firm MicroStrategy, Michael Saylor, believes that cryptocurrency is the next biggest investment. MicroStrategy increased its bitcoin holdings in 2022 by purchasing 8,813 bitcoins at an average price of $32,670. The company holds a total of 132,500 bitcoins as of Feb. 19, 2023.


3.Cameron and Tyler Winklevoss are believed to be the first Bitcoin billionaires, reportedly holding about 70,000 coins.
Cameron and Tyler Winklevoss are investors in several cryptocurrencies and blockchain-related businesses, most notably the privately-owned Gemini exchange. They are believed to be the first to reach billionaire status by investing in Bitcoin, reportedly holding about 70,000 coins, according to Forbes.4

The Winklevoss twins launched the Gemini exchange in 2015.7 The company allows investors to buy, sell, and store their digital assets. Gemini launched bitcoin futures on the CBOE Options Exchange (CBOE) in December 2017.8



4.Elon Musk's company Tesla purchased $1.5 billion in Bitcoin in 2021 but is down to $191 million as of its 2022 annual filings.Elon Musk is the CEO and co-founder of Tesla (and other companies). Tesla engineers and builds electric vehicles and clean energy products. As an innovative company standing at the forefront of technology, it should be expected that it would own cryptocurrency—Tesla purchased $1.5 billion worth of bitcoin in 2021 to begin accepting it as a form of payment.9 As of its 2022 annual report, the company has converted 75% of its digital assets, reducing its holdings to $191 million.
5. Michael Novogratz founded Galaxy Digital Holdings, a broker-dealer and cryptocurrency and digital asset management firm.

Galaxy Digital focuses on digital assets; in the third quarter of 2021, it purchased $62 million worth of non-fungible token (NFT) related companies.10 NFTs are digital assets that use blockchain technology for security and ownership identification. They became popular in 2021 after digital art secured by NFT technology began selling for millions of dollars.

Galaxy reported about $2 billion in assets under management in its third-quarter 2022 results, with $875 million of those assets used in its fund products.

Source:https://www.investopedia.com/articles/people/091516/top-5-investors-investing-bitcoin.asp

Microstrategy Inc., Galaxy digital holdings, and Marathon digital holdings are top three biggest companies that hold the most bitcoin. There are much more that might be a little more familiar to others.


It’s not. The only way these companies can impact the value is if they buy and sell without being careful and considerate of how this will affect the movement of the market. But this doesn’t mean that if they sell, I would also sell.

Their opinion of bitcoin is important to check but it is not the ultimate judgment.

Not only institutions, we should think about the countries who are investing in bitcoin too, like El Salvador, they made public their cold wallets some weeks ago, and they are holding more than 5,000 BTC now.

You can see on the next link the companies who have invested in Bitcoin and how many BTC they have, the list was posted on 9/Jan/2024
https://www.statista.com/statistics/1228305/publicly-listed-companies-with-bitcoin/

MicroStrategy (U.S.)   189,150
Marathon Digital Holdings Inc (U.S.)   15,174
Tesla, Inc (U.S.)   10,725
Hut 8 Corp (Canada)   9,195
Coinbase Global, Inc. (U.S.)   9,000
Galaxy Digital Holdings (U.S.)   8,100
Block, Inc. (U.S.)   8,027
Riot Platforms, Inc. (U.S.)   7,362
Bitcoin Group SE (Germany)   3,830
CleanSpark Inc (U.S.)   3,002
Voyager Digital LTD (Canada)   2,287
NEXON Co. Ltd (Japan)   1,717
HIVE Digital Technologies (Canada)   1,707

I don't know exactly how many companies are accumulating bitcoin this year. But always, I have seen MicroStrategy around Twitter posting about their new accumulation. Due to ETF, many brokers, including BlackRock, are heavily investing in Bitcoin. As a result, we can see Bitcoin flying around. So definitely, new institutional investors are having a huge impact on Bitcoin value lately. I think more institutions will be interested next year, especially when halving ends. There would be another bull trend later halving. 

As far as I know, the two largest companies currently investing in Bitcoin and holding the largest amounts of Bitcoin are MicroStrategy and BlackRock.

Of course, there are many other companies, but these two companies are the largest in terms of the number of Bitcoins they own, and they are constantly working to increase their possession of Bitcoins.

Of course, then come the ETF companies in general, which are also trying to increase their stocks. Distributing Bitcoin among this company is better for the market and decentralization.

Institutional investors can hold Bitcoin for much longer periods of time, bitcoins which could have otherwise increased sell pressure on the market or could have been dumped by panic sellers during dips in the market. The major benefit this has on Bitcoin is that bear curves will not be as steep as it used to be and recoveries between bull periods will start to have less and less dips between.

Yes those are some of the companies that have invested heavily in bitcoin this year and I also read a flash news about MicroStrategy that the company has acquired more bitcoins of that amount to $2,5 billions but I can't really get the exact figure again and little research on it provide this to me but I will not rely on this for now. https://www.bloomberg.com/news/articles/2024-03-19/microstrategy-owns-about-1-of-all-bitcoin-with-latest-purchase-mstr
But I will still check on fillippone thread to see the exact amount. And there is one company which is competing with microstrategy in possession of bitcoin.

Tesla was not too fair to Bitcoin in the last market cycle and I can say that overall they hurt Bitcoin more than helped because what they did was pure price manipulation. They raised the hope of people, who were eager to see Bitcoin accepted in the mainstream, when they announced that Tesla will be accepting Bitcoin for the purchase of their electric cars, little did we know that they will change their mind so fast. Maybe they thought about the regulatory aspect of it as well as the taxation and decided not to put their business at any form of risk.

Therefore, I am not too comfortable with institution such as Tesla getting involved in Bitcoin because of their antecedents. It will be really hard to believe the words of Elon Musk regarding investment in Bitcoin.

The amount of investment is increasing, and its value is increasing enough, it is higher.
This makes some institutions that invest in Bitcoin have quite a lot of profits.

Let's see, how Tesla was initially quite serious about Bitcoin, Until now Tesla continues to collect Bitcoin.

Total Bitcoins held: 9,720 BTC and Current investment value (April 5, 2024): $324 million.
Tesla has also sold some of their Bitcoin holdings in 2022 by about 75% with the value of Bitcoin at the time $926 Million.
But now they're starting to re-enter and buy gradually, and Elon Musk says it's going to be held for the long term.

Based on your question, I know that MicroStrategy, Galaxy Digital Holdings, Marathon Digital Holdings, Tesla, and Coinbase Global are some of the of the top investors in Bitcoin, and they hold a great deal of it. Also, based on my research, blackrock holds about 256,681 BTC as of this month, while microstrategy owns about 214,246 bitcoins as of last month, less than what blackrock's holding.Upon the factors that influence the price of Bitcoin, we all know that whales are one factor that contributes to the price volatility of Bitcoin. So, in the future, it will definitely contribute to the impact of the BTC price. 

What are some major institutions investing heavily in bitcoins in 2024 ?  And how is it going to impact the future prices for bitcoin according to you ?