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How Corporate Bitcoin Treasuries Help Us All – Bitcoin Magazine
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Rodolfo Novak: Why Corporate Bitcoin Treasuries Help Us All
The last three months in Bitcoin have been marked by large corporate entities transitioning significant portions of their treasury holdings into bitcoin. In August, software intelligence company MicroStrategy announced[2] that it purchased 0.1 percent of the total BTC supply (its CEO Michael Saylor has since gone full maxi, and become a bit of a celebrity[3] in the space). Major payments company Square, which has been offering BTC exposure to users of its mobile payments platform for some time, allocated $50 million of its assets to bitcoin in early October. And just yesterday[4], U.K. fintech company Mode allocated 10 percent of its cash reserves to buy BTC as a treasury asset.To compile this trend into a single, easily-digestible database, Coinkite’s Rodolfo Novak, a.k.a. NVK[5], launched bitcointreasuries.org[6]. It lists companies that have made the transition to hold bitcoin as a treasury asset, along with their market caps, the base price of their investment vs. today’s value, the amount of BTC they hold and, critically, the percentage of the total supply of BTC that each has bought up. The allocations listed total a whopping 3.74 percent of all of the bitcoin that will ever exist.“I always assumed that there was a place where you could see, not a complete list, but some list of large holders of bitcoin that are not private entities,” Novak explained to Bitcoin Magazine. “Especially with publicly-traded companies, because they have all of their books public anyway and it’s all audited. But I couldn’t find anything and I’m a lover of buying domains, so I just started putting [bitcointreasures.org] together in the hopes it would
