Institutions Increasingly Own Nearly 8% Of Total Bitcoin Supply
Institutions investing in Bitcoin is becoming more and more a common occurrence. While this was not always the case, institutional investors have been investing in cryptos for a while. The investments have been mainly at a conversation rate, which was changed during 2020 bull cycle when more institutional money coming into the market. Predictions pointed towards continuous growth. And out of FOMO institutions made their moves.
Grayscale Bitcoin Trust and other funds started ramping up their stake in crypto. Michael Saylor’s MicroStrategy was buying up bitcoins at a shocking rate. He himself being super bullish on bitcoin, this came as no surprise. Saylor also has revealed to having a personal stake in the digital asset. With institutional interest rising, it might be interesting at this point to know how many institutional investors own bitcoin.
Institutions Own 8% (1.6 Million BTC) Of Total Bitcoin Supply
According to data institutional investors now own nearly 8% of the total supply of bitcoin. The top holders now have hundreds of thousands of bitcoins in their possession, and others are catching up. The cumulative total puts the total BTC held by institutional investors at more than 1.6 million bitcoins currently, according to Bitcoin Treasuries. Accounting for a total of 7.91% share of the current BTC supply.
The total cost basis that these assets were bought at shows institutional investors are currently in the green. Bitcoin Treasuries data put the total cost basis at $53.9 billion. While the value of the BTC held by the institutional investors is currently at $77.8 billion. Meaning that the institutional investors are turning a profit from their investments.
The data also shows that while some institutional investors are negative, the majority of the institutional investors have turned a profit. With some making as much as 97x of their initial investments in the asset.
Institutions Invested In Bitcoin
A total of 61 institutional investors were compiled that have invested in Bitcoin. Some institutional investors had only invested in as low as 2 bitcoins. While others have invested in the hundreds of thousands.
Of all the institutional investors, Grayscale led the charge with a whopping 654,885 bitcoins currently held by the trust. Its BTC holdings make up 118% of the total market cap of the trust. MacroStrategy, a subsidiary of MicroStrategy under which bitcoins are purchased, currently holds 108,991. With a cost basis of $2.9 billion. And a current value of $5.1 billion. Showing that the company has already made over 100% gains on its initial investment.
An interesting fact is the government of Bulgaria currently holds one of the largest pots for institutional investors. Bulgaria holds 213,519 bitcoins, which were bought at a cost basis of $3.3 billion. The value of the coins at present is $10 billion. Indicating that the government of Bulgaria has already made 300% gains on its initial BTC investment.
