Over the past two years, a number of public and private companies, exchange-traded products (ETPs), and countries have added bitcoin to their balance sheet. However, during the last nine months of 2022, the number of bitcoins stored in these types of treasuries fell by 57,481 bitcoins, worth about $1.1 billion using today’s exchange rates.
Bitcoin worth $1.1 billion removed from Treasury bills list
On October 17, 2022, 65 companies, ETPs, and countries own Bitcoin (BTC) in their balance sheet. The data stems from the List of Bitcoin Reservoirs, which aggregate current Bitcoin holdings in public and private exchanges, ETPs, and countries.
At the time of writing and as of September 8, 2022, the list of Bitcoin bonds indicates that approximately 65 of the above types of entities hold approximately 1,443,925 BTC or 6.876% of the 21 million supply. While the balance is a large amount 57481 BTC With a value of $1.1 billion that has been wiped off the list of bitcoin bonds since the beginning of 2022.
1.44 million BTC Today’s Treasuries are worth about $27.76 billion using current spot market values. Data archived via archive.org shows that when 2022 began, the number of 65 publicly and privately traded companies, ETPs, and countries was 1,501,406 BTC.
At that time, it was 1.501 million BTC It was valued at $63.25 billion using exchange rates on January 2, 2022. The biggest change over the past nine months has been Tesla’s balance sheet, which saw 32,177 BTC It was removed from the company’s treasury.
Tesla was 42,902 times BTC Today, the company’s treasury has 10,725 BTC. The 32177 BTC representing 55.98% of 57,481 BTC It has been erased from the list of bitcoin bonds since the beginning of the year.
4 out of 65 entities hold more than 100,000 Bitcoin
While companies like Tesla emptied BTCThe list also shows a few companies that are increasing their inventory. For example, Microstrategy had 124,391 BTC On January 2, 2022 and today the company owns approximately 130,000 bitcoins.
Microstrategy’s cache has grown by 4.51% since the beginning of the year. On the other hand, Tesla’s balance sheet has seen a drop of about 75% of bitcoin holdings.
The largest treasury owner in the list of bitcoin bonds is ETP managed by Grayscale Investments. Grayscale Bitcoin Fund (OTCMKTS: GBTC) holds 643,572 BTC According to the list of bitcoin treasury bonds, which is equivalent to $12.37 billion of the dollar’s value using today’s exchange rates.
Out of 21 million bids, BTC GBTC accounts for 3.065% and GBTC cache is 44.57% of 1.44 million BTC in treasury bonds today. Out of all 60 entities you own BTC On their balance sheets, only four entities own more than 100,000 BTC.
The four organizations that own more than 100,000 BTC They include Grayscale’s Bitcoin Trust (643K), Microstrategy (130K), Mt Gox (141K) and Block.one (140K). These four entities alone drive 1,054,000 BTC from 1.44 million BTC It is held by 65 entities.
Although erased 57481 BTC Since January 2, the list has grown since July 17, 2022 by the number BTC The Treasury holds approximately 1,325,396 BTC. With 1.44 million coins held today, nearly 120,000 bitcoins have been added to balance sheets since July 17.
What do you think of the 57,481 bitcoins that have been erased from the list of bitcoin bonds? What do you think about the fact that four entities control the majority of the 1.44 million owned by 65 entities? Tell us your thoughts on this topic in the comments section below.
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