Bitcoin Investments by Publicly Traded Companies Are Up 25% In the Last Two Weeks

October 22, 2020

Who would’ve thought just a few years ago that the following statement would be true? Publicly traded companies investing in Bitcoin are increasing their holdings rapidly and they are profiting from it handsomely. Just in the last two weeks, the value of Bitcoin investments by publicly traded companies have gone up 25%, according to BitcoinTresuries.org.

Bitcoin is on quite a bull run this week after PayPal announced that  the payment giant and its sister company Venmo are  going to allow customers to buy, sell and hold cryptocurrencies on its platforms.

It’s abundantly clear now that the heavy hitters in the world of finance and technology are starting to take notice of Bitcoin’s true value as a store of wealth.

 

How Bitcoin Investments by Publicly Traded Companies Are Distributed

When it comes to betting big on Bitcoin, there isn’t a single publicly traded company betting bigger than Galaxy Digital Holdings. The company originally purchased $134 million USD in Bitcoin on June 30, 2020. Those holdings are now worth over $217 million USD and hold a total of 16,651 bitcoins.

Crypto enthusiasts should already know about Galaxy Digital Holdings. Company founder and Canadian billionaire Michael Novogratz is one of the most publicly bullish institutional investors in the crypto world. He’s been promoting the idea of bitcoin being a huge part of our future and a great store of value for many years now, even before other notable figures in the investing world bothered to comment on it.

But Novogratz’s company isn’t the publicly traded company investing most heavily in Bitcoin. That honour goes to MicroStrategy Inc., an American business consulting firm traded on the NASDAQ exchange. The company put 85% of their $500M balance sheet ($425M) into Bitcoin.

 

More Canadian Companies Are Joining the Fun Too

Hut 8 Mining Corp., Hive Blockchain, Cypherpunk Holdings Inc., 3iQ, and Netcoins’ parent company BIGG Digital Assets Inc. are the biggest publicly traded Canadian companies joining in on the Bitcoin treasury fun, investing heavily in digital gold. Together the companies hold well over $154 million in Bitcoin at today’s price ($202 million Canadian).

Look for those numbers to keep increasing all across North America and the rest of the world as Bitcoin’s steady rise in value continues.

 

Buy Bitcoin in Canada Now

If you’re not as well-versed in the stock market and find it intimidating, buying Bitcoin directly through Netcoins is your best option. You can also invest in other tokens including Ethereum and stablecoins like U.S. Dollar Tether and 3iQ’s Canadian stablecoin, QCAD. Register for a free account today and start building up your own personal Bitcoin treasury.         

Buying bitcoin is easy with Netcoins. Create an account, fund it with an e-Transfer (other funding options available), and head to the trade page to buy or sell bitcoin. Netcoins is a fully regulated, publicly owned crypto trading platform.