The private companies holding Bitcoin now have more than $6.8 billion after a year in which smaller players started catching up with Grayscale – the leading company in this regard.
According to analytical company Coin98 Analytics, the number of public companies that have invested in Bitcoin now stands at 13.
Grayscale, which specializes in asset management, remains the largest holder with a huge part of the total assets. The company has almost 450,000 Bitcoin, amounting to roughly $5.15 billion in current prices. The second place is taken by Coinshares` 70,000 (about $800 million).
MicroStrategy, the company that attracted a lot of attention when announced it is moving to a “Bitcoin Standard”, has 38,250 Bitcoins (about $437 million). The fourth-largest public company in Bitcoin is Mike Novogratz’s Galaxy Digital, which has under its control 16,550 BTC (or about $189 million).
In the past month, Bitcoin has been experiencing a tendency to diverge from both the strong US dollar and VIX volatility, providing investment alternatives for investors looking to diversify. Recently the correlation between Bitcoin and the stock market of the S&P 500 companies and gold has been growing, which might indicate that Bitcoin is evolving as an asset.
In turn, this has fuelled anticipation of a clean-cut divergence from the traditional markets – revolutionary “decoupling” opens Bitcoins` way for a significant price increase, analysts believe.
