BTC mega trend 11 companies on the NYSE officially declare to hold Bitcoin

Sajjad Hussain
Oct 12 · 2 min read
Image for post
Image for post

11 New York Stock Exchange listed companies have officially announced their holdings of Bitcoin, with a total of 592,800, accounting for about 3.2% of the circulation. It should be noted that such funds as Grayscale and Coinshare are equivalent to custody.

Bitcoin, as the most widely adopted cryptocurrency in the world, is a reliable means of storing value and an attractive investment asset. It may have long-term appreciation potential than holding cash. Since the birth of Bitcoin more than ten years ago, Bitcoin has become an important supplement to the global financial system, and its characteristics are very useful for individuals and institutions. Since MicroStrategy Incorporated, the world’s largest independent listed business intelligence company, recognized that Bitcoin is a legitimate investment asset that can be superior to cash and gold, 11 more companies on the NYSE have recognized the value of Bitcoin and followed closely. , Announced the holding of Bitcoin.

Not only that, in the past few months, the number of Bitcoin whales (addresses holding more than 1,000 BTC) has been on the rise. This sign indicates that more high-net-worth individuals are investing in Bitcoin in anticipation of an increase in the price of Bitcoin.

Nowadays, digital currency has been closely linked with the global capital market, and digital currency has become a section of the global capital market. Bitcoin, as the leader of the digital currency circle, naturally attracts attention in every move. In the early days, the Bitcoin market was small and had few long-term participants, and was manipulated by the futures market. With the entry of long-term investors and the emergence of defi, this kind of manipulation space has gradually been compressed. In the future, Bitcoin will return to the dominant position of the balance of supply and demand in the spot market.

It is reported that there are about 4,000 companies listed on the NYSE. Although only 11 companies currently hold it, it is a good start. In the future, more companies will hold Bitcoin. Status will also become more important.

Crypto Pundit

Missing Crypto news

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store