Institutional Investors Now Hold $70B Of Bitcoin: Report

Asset managers accumulated as much as 4% of Bitcoin's BTC/USD total supply, while both private and public companies both raked in 1% of it.

What Happened: According to data reported by Buy Bitcoin Worldwide, asset managers now hold a total of slightly less than $70 billion worth of Bitcoin — or 1,476,568 BTC, equivalent to 7.85% of the coin's current circulating supply of 18,797,968 BTC.

The top holder is Grayscale Investments — the issuer of the top tradable Bitcoin fund Grayscale Bitcoin Trust GBTC — which controls 654,600 BTC worth around $31 billion.

Of the aforementioned $70 billion, 816,379 BTC worth $40.1 billion is owned by 14 Bitcoin fund issuers and asset managers, including Grayscale Investments. CoinShares’ XBT Provider is the second top fund with 48,466 BTC ($2.4 billion), while the remaining 12 issuers hold 113,313 BTC.

What Else: The data also show 34 public companies holding Bitcoin on their balance sheet — a total of 216,692 BTC, worth over $10 billion; nearly half of it is held by MicroStrategy Incorporated MSTR.

According to recent reports, MicroStrategy recently bought an additional 3,907 Bitcoin, bumping its holdings to 109,000 BTC, which approximately counts for $5.15 billion.

Tesla Inc TSLA also holds just under 43,000 BTC worth nearly $2.1 billion.

Read also: Morgan Stanley Bought $240M Shares Of Grayscale Bitcoin Trust

When it comes to private companies, EOS EOS/USD creator Block.One holds most of it — 140,000 BTC worth $6.8 billion.

Lastly, Bulgaria's government purportedly holds 215,519 BTC, or $10 billion, while Ukraine's government holds 46,351 BTC worth $2.2 billion.

Price Action: The leading cryptocurrency was trading at $47,863, losing 1.1% in the past 24 hours and 2.9% over the past week.