Standard Chartered: 61 Global Institutions Control 3% of Bitcoin Supply
According to Standard Chartered, a multinational financial services company, 61 publicly listed companies now hold 3% of the world's Bitcoin supply, with these companies having acquired up to 100,000 coins in the last 2 months.
Head of Digital Asset Research at Standard Chartered, Geoff Kendrick, stated that combined, these 61 companies will touch a holding of over 673,897 Bitcoin.
Meanwhile, the pace of acquisition by the largest company is still led by MicroStrategy (MSTR), which currently holds 582,000 Bitcoin. Furthermore, when adding XXI with 31,500 Bitcoin, Galaxy Digital Holdings with 12,830, Metaplanet with 7,800 Bitcoin, and Next Technology with 5,833 Bitcoin.
Thus, the total Bitcoin from these companies has exceeded 600,000 coins. Moreover, this number continues to grow with 56 other companies.
In addition, Kendrick mentioned that this has proven that Bitcoin is becoming increasingly popular as a corporate treasury asset. However, he still cautions about the potential risks of massive corporate adoption.
Then, the volatility of Bitcoin has the potential to push the price of Bitcoin below the average purchase price, where 50% of companies made purchases at an average above US$90,000.
