Over the past two years, a number of public and private companies, exchange-traded products (ETPs), and countries have added bitcoin to their balance sheet. However, during the last nine months of 2022, the number of bitcoins stored in these types of treasuries fell by 57,481 bitcoins, worth about $1.1 billion using today’s exchange rates.
Bitcoin worth $1.1 billion removed from Treasury bills list
On October 17, 2022, 65 companies, ETPs, and countries hold Bitcoin (BTC) on their balance sheet. The data stems from the List of Bitcoin Reservoirs, which aggregate current Bitcoin holdings in public and private exchanges, ETPs, and countries.
At the time of writing and as of September 8, 2022, the list of bitcoin bonds indicates that approximately 65 of the aforementioned entity types hold approximately 1,443,925 BTC or 6.876% of the specified supply of 21 million. While the balance is a significant amount, 57,481 BTC worth $1.1 billion has been wiped off the list of bitcoin bonds since the start of 2022.
The 1.44 million BTC Treasuries today are worth approximately $27.76 billion using current spot market values. Data archived via archive.org shows that when 2022 began, the 65 publicly traded and private companies, ETPs and countries held 1,501,406 BTC.
At the time, it was 1.501 million BTC worth $63.25 billion using the exchange rates on January 2, 2022. The biggest change over the past nine months was Tesla’s balance sheet, which saw 32,177 BTC removed from the company’s treasury.
Tesla had 42,902 BTC and today, the company’s treasury holds 10,725 BTC. 32,177 BTC represents 55.98% of the 57,481 BTC that has been removed from the list of bitcoin bonds since the beginning of the year.
4 out of 65 entities hold more than 100,000 Bitcoin
While companies like Tesla have dumped BTC, the list also shows that quite a few companies are increasing their inventory. For example, Microstrategy had 124,391 BTC on January 2, 2022, and today, the company owns approximately 130,000 BTC.
Microstrategy’s cache has grown by 4.51% since the beginning of the year. On the other hand, Tesla’s balance sheet has seen a drop of about 75% of bitcoin holdings.
The largest treasury owner in the list of bitcoin bonds is ETP managed by Grayscale Investments. Grayscale’s Bitcoin Trust (OTCMKTS: GBTC) holds 643,572 BTC according to the list of bitcoin bonds, which is equivalent to $12.37 billion worth of $12.37 billion using today’s exchange rates.
Of the 21 million bids, BTC held by GBTC represents 3.065% and GBTC cache is equivalent to 44.57% of the 1.44 million BTC in Treasuries today. Of all the 60 entities that hold BTC on their balance sheets, only four hold more than 100,000 BTC.
The four organizations that hold more than 100,000 bitcoins include Grayscale’s Bitcoin Trust (643K), Microstrategy (130K), Mt Gox (141K), and Block.one (140K). These four entities alone hold 1,054,000 BTC out of the 1.44 million BTC owned by 65 entities.
Although 57,481 BTC has been erased since January 2, the list has grown since July 17, 2022 when the number of BTC held by Treasuries was around 1,325,396 BTC. With 1.44 million coins held today, nearly 120,000 bitcoins have been added to balance sheets since July 17.
The current bitcoin listing statistics mentioned in this article are drawn from the buybitcoinworldwide.com web portal and archive.org metrics archived January 2, 2022 from the same site.
What do you think of the 57,481 bitcoins that have been erased from the list of bitcoin bonds? What do you think about the fact that four entities control the majority of the 1.44 million owned by 65 entities? Tell us your thoughts on this topic in the comments section below.
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Originally published at San Jose News Bulletin
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