The Bitcoin market cap is hovering at roughly $211 billion currently, but four years earlier, it was a meager $6.8 billion. This figure matches the BTC supply public companies now hold alone, and it could provide the “writing on the wall” regarding what to expect in terms of the asset’s future growth.
Bitcoin Matures Into Corporate Reserve Asset, Domino-Effect Could Drive New Bull Run
The crypto market is evolving: decentralized finance is far more sustainable than the ICO boom, and Bitcoin is maturing into a respected asset alongside gold, stocks, and more.
Related Reading | Square’s Bitcoin Investment Made $2 Million Over The Last 24 Hours
What was once a retail-driven asset class, is now being strongly considered by hedge funds, gold bugs, institutions, and recently, a trend of publicly-traded companies adding BTC to their corporate treasury reserves.
Total BTC in USD Value Held In Publicly Traded Company Treasuries | Source: BitcoinTreasuries.org
The total amount of Bitcoin in USD currently held by fifteen companies is valued at $6.8 billion and climbing. $50 million was just added by the Jack Dorsey-led Square, Inc. in