In the two-year period, bitcoin has been added to balance sheets by a variety of companies and exchange-traded product (ETPs). However, during the last nine months of 2022, the number of bitcoin stored in these types of treasuries dropped by 57,481 bitcoin, worth around $1.1 billion using today’s exchange rates.
Bitcoin worth $1.1 billion has been removed from the Treasuries list
65 ETPs, countries and businesses had Bitcoin (BTC) in their balance sheets on October 17, 2022. This data is derived from the bitcoin Treasury List, which aggregates current bitcoin holdings of publicly traded and privately held companies, ETPs and countries.
According to the bitcoin treasuries lists, 65 of these entities have approximately 1,443,925 BTC. This is 6.876% from the 21 million capped supply. The balance, which is quite large, has been removed from bitcoin treasuries since 2022. It now contains 57,481 BTC, worth $1.1 Billion.
Based on current spot market prices, the 1.44 million BTC held in Treasury today amounts to approximately $27.76 Billion. Archive.org saved data that shows 65 public and private companies and ETPs held 1.501.406 BTC when 2022 began.
The 1.501 million BTC had a value of $63.25 billion at the time. This was based on exchange rates as of January 2, 2022. The largest change during the last nine months was Tesla’s balance sheet, which saw 32,177 BTC removed from the firm’s treasury.
Tesla once had 42,902 BTC and today, the firm’s treasury holds 10,725 BTC. This 32,177 BTC is 55.98% off the total 57,481 BTC that was wiped from bitcoin treasuries lists since the beginning of this year.
Four of the 65 Entities Have More Than 100,000 Bitcoin
Tesla and other companies have unloaded Bitcoin, but the list shows that there are a few more. Microstrategy, for instance, had approximately 130,000 BTC today and had 124,391 BTC as of January 2, 2022.
Microstrategy’s cache grew by 4.51% since the start of the year. Tesla’s balance sheet, on the other hand, saw a decrease of around 75% of its bitcoin holdings.
Grayscale Investments manages the ETP, which is the biggest treasury owner on the Bitcoin treasuries lists. Grayscale’s Bitcoin Trust (OTCMKTS: GBTC) holds 643,572 BTC according to the bitcoin treasuries list, which equates to $12.37 billion in USD value using today’s exchange rates.
Out of the 21 million supply, the BTC held by GBTC represents 3.065% and GBTC’s cache further equates to 44.57% of the 1.44 million BTC in treasuries today. Four entities only hold over 100,000 BTC out of 60 that have BTC as part of their balance sheet.
The four organizations holding more than 100K BTC include Grayscale’s Bitcoin Trust (643K), Microstrategy (130K), Mt Gox (141K), and Block.one (140K). The 1,054,000 BTC that these four entities control is just a fraction of the total 1.44 million BTC owned by 65 entities.
Although 57,481 BTC has been erased since January 2, this list is growing since July 17, 2022. The total number of BTC owned by treasuries was approximately 1,325,396 BTC. With 1.44 Million bitcoins held, approximately 120,000 Bitcoins have been added to balance sheets in the year since July 17th.
Statistics for the current bitcoin treasuries list mentioned in this article are derived from the web portal buybitcoinworldwide.com, and archive.org metrics saved on January 2, 2022, from the same website.
What do you think about the 57,481 bitcoin that’s been erased from the bitcoin treasuries list? Is it possible that only four entities control a large portion of 1.44million bitcoin held by 65 entities? Please share your views on this topic in the comment section.
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