Bitcoin Holdings by Company and Country: Understanding the Landscape

Companies -both public and private – and governments hold large Bitcoin reserves. MicroStrategy, a public company, owns around 226,500 Bitcoins.

Bitcoin is a decentralized digital currency. As a result, no central authority, such as a bank or government, controls the creation or transfer of new Bitcoins. Instead, these tasks are carried out by a vast network of computers running the Bitcoin software.

When new Bitcoins are created, they are added to a public ledger called the blockchain. The blockchain also records all Bitcoin transactions, making them transparent and immutable.

Anyone can join the Bitcoin network and participate in the verification and recording of transactions. However, to do so, they must have the necessary hardware and software and be willing to follow the rules of the network.

As of 2023, large companies and governments hold a significant portion of the total Bitcoin supply. For instance, MicroStrategy, a public company, owns around 226,500 Bitcoins. At the same time, the US government holds over 207,189 Bitcoins.

Now, let's take a closer look at the top five companies and countries with the largest Bitcoin holdings and understand how their actions can impact the Bitcoin price.

Bitcoin Holdings by Company: Understanding the Landscape

If we rank companies by their BTC holdings, the top five are MicroStrategy, Marathon Digital Holdings, Riot Platforms, Tesla Inc, and Hut 8 Corp. Among them, Microstrategy holds at least 1.079% of the total BTC. Meanwhile, Marathon Digital Holdings and Riot Platforms have 0.124% and 0.048%, respectively.

MicroStrategy has been making waves with its consistent increase in Bitcoin holdings since 2020. On June 20, 2024, it added at least 11,931 BTC to its total holding. Notably, just before the price of Bitcoin touched its all-time high in mid-March, MicroStrategy made a massive purchase of 12,000 BTC. Interestingly, its latest purchase was on August 1, when it bought at least 169 BTC.

When it comes to analyzing Bitcoin holdings by companies, Tesla Inc.'s history is crucial. It showcases how unpredictable a company can be in terms of increasing and decreasing its holdings.

On February 8, 2021, Tesla held 43,200 BTC. On March 31, 2021, it dropped at least 4,320 BTC, bringing its holdings down to 38,880 BTC. On June 30, 2022, it made an aggressive move by selling at least 29,160 BTC, bringing its total holdings as low as 9,720 BTC.

Bitcoin Holdings by Country: What You Should Know

Now, let's switch our focus to countries and see which ones are leading the way in BTC holdings. The USA, China, the UK, Ukraine, and El Salvador are the top five countries in this regard.

Out of the total Bitcoin in the market, the US alone holds at least 0.987%. China follows closely with 0.924%. The UK, with around 61,000 BTC, controls nearly 0.29%.

It's worth noting that in the event of a recession, there is a high chance that countries will take some drastic measures regarding their Bitcoin holdings.

In conclusion, there is no doubt that large Bitcoin holders can influence the price of Bitcoin. There is also no disputing that when confronted with a crisis, holders may behave unpredictably. So, it is important to stay informed about their actions.

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