Many people would expect the dwindling BTC price to impact the various bitcoin treasuries negatively. That is not the case, even if their overall value fluctuates slightly. Moreover, the amount of BTC in such treasuries continues to rise and has surpassed 600,000.
Overall Bitcoin Treasuries Support Is Healthy
Seeing the number of companies with a public bitcoin treasury is excellent. Some firms would instead not be associated with cryptocurrencies, especially on their balance sheet. However, many others publicly show their support for and commitment to the leading cryptocurrency. Notable bitcoin treasuries are set up by Microstrategy, Tesla, Riot Blockchain, NEXON, Cypherpunk Holdings, etc.
It is also worth noting the geographic diversification of these companies. There is tremendous interest in the United States and Canada, as expected. Those regions are home to most top-tier crypto firms and bitcoin mining operations. However, treasuries have been set up in Germany, Norway, Switzerland, Australia, Russia, Thailand, and China.
While one cannot speak of a global movement yet, the growth has been remarkable. Dozens of publicly-traded firms openly keep BTC on their balance sheet in these bitcoin treasuries. Several private companies may do the same, although they rarely disclose such details. Governments like Ukraine, El Salvador, and Georgia also maintain some BTC exposure.
There are also numerous funds, ETFs, and other entities with bitcoin treasuries [of some sort]. Entities like Grayscale, Bitwise, WisdomTree, VanEck, and Leonteq provide BTC exposure. They are not obligated to do so, especially during bearish market conditions. These investment vehicles remain pretty prevalent across the US, Canada, the UK, Brazil, and Europe.
Over 600,000 BTC In Treasuries
Despite the dwindling BTC price, the bitcoin treasuries continue to grow. Although there haven’t been spectacular movements in 2022, the overall growth is visible. Over 606,000 BTC is now in the hands of long-term holding entities. MicroStrategy continues to acquire BTC at every possible opportunity. Other firms and providers do the same, as dollar-cost averaging remains powerful. The DCA method accommodates a portfolio of any size, big or small.
Moreover, the amount of BTC in these treasuries has doubled since February 2021. That is remarkable, as Bitcoin has performed poorly in the second half of 2021 and all of 2022. A massive sell-off wouldn’t have surprised anyone, but that is not the case.
Instead, holders reaffirm their commitment to BTC for the long run. Some face a steep loss on investment so far, whereas others see more prominent momentum. It remains an intriguing aspect of the cryptocurrency industry.
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