United

Bitcoin

Arthur

April

when

<ul> 
 <li>Bitcoin in trust by public companies has hit $13 billion globally.</li> 
 <li>MicroStrategy and Metaplanet are two firms at the forefront of this move.</li> 
</ul> 
Over the past year, public companies’ <a href="https://www.crypto-news-flash.com/what-is-bitcoin-a-beginners-guide-to-the-worlds-popular-type-of-cryptocurrency/" target="_blank" rel="noopener">Bitcoin</a> (BTC) holdings jumped to $13 billion. This figure is notable as it almost doubles the $7.2 billion Bitcoin holding recorded a year ago. This ultimately highlights the increasing adoption of the leading cryptocurrency. 
<h3 id="b-public-companies-increasing-their-bitcoin-holdings-b">Public Companies Increasing Their Bitcoin Holdings</h3> 
According to data from Bitbo, 42 public firms now hold 335,249 BTC, which makes up approximately $13 billion. This reinforces Bitcoin’s position as a strategic asset among major corporations worldwide. Michael Saylor’s MicroStrategy set the precedent for other firms when it first acquired 21,000 BTC in 2020.&nbsp; 
Since then, business intelligence and software firms have continued to accumulate Bitcoin. As <a href="https://www.crypto-news-flash.com/microstrategy-to-raise-2-billion-to-buy-more-bitcoin-currently-holds-226500-btc/" target="_blank" rel="noopener">highlighted</a> in our earlier report, its current holdings are at 226,500 BTC. This holding comes following MicroStrategy’s announcement of a 10-for-1 stock split and the addition of 12,222 Bitcoins in the second quarter of 2024.&nbsp; 
Japanese firm Metaplanet announced its Bitcoin accumulation plan in April and has purchased the asset every month since then. The company already holds $13.4 million worth of Bitcoin but disclosed plans to increase it to $60 million. As we <a href="https://www.crypto-news-flash.com/japans-metaplanet-plans-massive-bitcoin-investment-70-million-to-transform-financial-landscape/" target="_blank" rel="noopener">discussed</a> earlier, Metaplanet’s Bitcoin expansion is intended to decrease exposure to the Yen and make the asset class more accessible to Japanese investors. 
The recent increase in Bitcoin corporate holdings has led investment manager Nickel Digital Asset Management to commission a survey analyzing institutional sentiments towards holding BTC. The survey featured 200 wealth managers and institutional investors from countries including the US, Germany, Singapore, the United Kingdom, Switzerland, the UAE, and Brazil. 
The study results suggest that 75% of leaders in enterprises active in the crypto ecosystem believe public corporations should hold Bitcoin. In addition, 26% highly recognized Bitcoin’s role as a reserve asset. The survey participants are positive about the growth of Bitcoin holdings among public firms.&nbsp; 
Notably, 58% of respondents believe over 10% of public firms will have Bitcoin on their balance sheet in the next five years. Furthermore, 8% forecasted that over 25% of these companies would use Bitcoin in the same period. 
<h3 id="b-can-public-companies-help-btc-reach-100k-b">Can Public Companies Help BTC Reach $100K?</h3> 
The increased Bitcoin holdings by public companies have sparked curiosity about the coin’s potential to reach $100,000.&nbsp; 
The 335,249 BTC public companies hold represent only 1.6% of Bitcoin’s 21 million total supply. As a result, crypto analysts, including Arthur Hayes and Mike McGlone, think Bitcoin’s future may hinge on broader economic factors such as global liquidity conditions and central bank policies. 
However, the increase in Bitcoin holdings from public companies could lead to further adoption of BTC, ultimately resulting in further gains for Bitcoin. As of this writing, BTC is trading at $60,236, up by 0.37% in the past 24 hours, with a market cap of $1.1 trillion. 

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Bitcoin Holdings of Public Companies Reach $13B in a Year: Can This Drive BTC to $100K?

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