Institutions and institutional investors have been acquiring bitcoin at a faster rate in 2021 than ever before which has now resulted in nearly 3% of all bitcoin circulating supply being locked up by these investors.
There are now more institutions than ever before expressing interest to hold some of their cash or treasury in bitcoin.
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The current list of the top huge institutional holders stands as follows:
- MtGox K K – 141, 690 BTC
- Block.One – 140, 000 BTC
- MicroStrategy – 71, 000 BTC
- Tesla – 38, 500 BTC
The massive uptake of bitcoin by institutions is better seen when you look at GrayScale, the world’s largest crypto custody service for institutions, which currently holds over $30 billion in bitcoin.
According to Ross Stevens, CEO, NYDIG, a leading provider of institutional investment, brokerage, treasury and technology solutions to banks and private clients:
“A year ago we had 25 institutional clients… today 280. By the end of year, I’m confident we’ll have over $25 billion of #Bitcoin.”
– CEO, NYDIG
Here is a comprehensive breakdown of bitcoin adoption and activities among institutions in 2021 so far:
- Bitcoin is now the 8th largest asset in the world, officially bigger than Facebook and Tesla in market cap
- Total crypto market cap crosses over $1 trillion for the first time in history
- The new U.S. administration, under President Joe Biden, freezes regulatory processes, including previous proposals on ‘unhosted’ bitcoin and crypto wallets
- Biden to names bitcoin-savy and crypto-friendly, Gary Gensler, as U.S. SEC chair
- Former U.S. Treasury Secretary, Summers, says bitcoin is here to stay and the finiteness of its supply is going to raise prices
- US Treasury OCC, the largest US banking regulator, announces it will allow US banks to use stablecoins for payments
- GrayScale has added over 43, 000 BTC in 2021 (way more than the mined supply) so far bringing its holdings to over $30 billion in value
- Tesla buys buys $1.5 billion in bitcoin and plans to accept it as payment
- MicroStrategy purchases another 295 & 314 BTC in cash bringing its bitcoin worth holdings to over $2.5 billion
- Investment bank, Morgan Stanley, buys a 10.9% stake in business intelligence firm MicroStrategy, indirectly exposing it to over $2.5B in bitcoin
- A $150 billion Morgan Stanley investing arm known for its prowess in picking growth stocks is considering adding Bitcoin to its list of possible bets
- City of Miami hosts the Bitcoin whitepaper on its government webstie and says it is working on a resolution to add bitcoin to its balance sheet
- Chicago Mercantile Exchange bitcoin (CME BTC) futures launch
- PayPal announces it will enable crypto payments for its 300 million customers and 26 million merchants in 2021 and has set up a dedicated bitcon and crypto business unit
- PayPal’s crypto buying/selling was up 22% in the last week of January 2021 – up by over 800% since November 2020
- MasterCard announces it will accept select cryptocurrencies directly on its network
- Visa moves to pilot its new crypto API to allow traditional banking customers to buy and sell bitcoin and crypto by working with crypto exchanges
- Miller Value Funds, founded by legendary investor, Bill Miller, has dislosed it may seek investment exposure to bitcoin
- Billionaire institutional investor, Paul Tudor Jones, and WallStreet executives invest in a $73 million crypto fund
- MicroStrategy runs a ‘Bitcoin for Corporations’ event providing a blueprint for 1, 400 firms to incorporate bitcoin into their balance sheets
- Guggenheim filing to buy $500 million in GrayScale becomes effective, which indirectly exposes it to bitcoin
- Billionaire, Mark Cuban, says he owns bitcoin and other digital assets in a WallStreet Bets AMA
- Billionaire institutional investor, Ray Dalio, writes an open letter and says his asset management firm, Bridgewater Associates, may soon buy bitcoin
- Coinbase, the largest crypto exchange in America, announces a proposed direct lisitng to go public – essentially exposing it to billions of dollars in institutional investments
- CEO of BlackRock, a $1.78 trillion assets under institutional management firm, says the company is watching bitcoin and believes it may play a bigger role in the future
- BlackRock, the world’s largest asset manager, files with U.S. SEC to get exposure to bitcoin futures via a derivative instrument
- The largest university endowment funds in the U.S. have quietly been buying bitcon and crypto in 2020 – according to a 2021 research
- Rothschild investment Corporation increases its exposure to bitooin by 24% by holding over 30, 000 shares in the GrayScale BTC Trust
- Nasdaq-listed company, Marathon Patent Group, announces it has purchased 4,812 bitcoin for around $150 million in January 2021
- Insurance firm, MetLife, with $650 billion assets under management, says it may soon buy bitcoin
- Goldman Sachs issues an RFI (request for information) to explore bitcoin & crypto asset custody and will enter the crypto market soon, according to a source inside the bank
- JP Morgan issues an RFI to look at digital assets custody
- Visa-backed Anchorage becomes the first OCC-approved U.S. national crypto bank, enabling large financial institutions to offer bitcoin and other cryptos to their customers
- Ruffer Investments, which invested $745m in bitcoin in 2020, says “Bitcoin is becoming a challenger to gold” and is a “unique beast as an emerging store of value”
- Three Arrows Captial discloses holding 37,000 bitcoins through Grayscale and now owns 6% of all GBTC shares, worth over $1 billion
- Skybridge Capital, the hedge-fund investing firm headed by Anthony Scaramucci, confirms launch of a new bitcoin fund and says its exposure to bitcoin has already reached $310 million
- Asset manager, VanEck, with $49 billion AUM, files with SEC for a new Bitcoin fund
- Nasdaq-listed and publicly-traded company, GrennPro Capital, says it intends to set up a $100 million Bitcoin Fund for investment
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RECOMMENDED READING: [WATCH] Bringing Institutional Investors into the Crypto Space – A Chat with Binance CEO and MicroStrategy CEO
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