After Tesla, to which big players will “greed” for Bitcoin spread?

Last week, news that electric car company Tesla invested $ 1.5 billion in Bitcoin immediately pushed the price of the virtual currency by nearly 20% to a record $ 48,000. The movement was driven in part by the “fever” that Elon Musk, CEO of Tesla, created, according to Fortune.

However, many investors see the move to invest in Bitcoin by the world’s largest car maker as a sign that many other large companies will follow suit. According to research by RBC, even Apple – the most valuable company in the world – may also join the Bitcoin “fever”.

Despite the great attention, Tesla is not the first listed company to buy Bitcoin, nor is it the company that owns the most Bitcoin. Currently, Microstrategy, the obscure software firm, is the biggest listed company holding Bitcoin by investing in the virtual currency in 2020.

The amount of Bitcoin that Tesla and Mass Mutual are estimating because both companies only revealed that they have invested $ 1.5 billion and $ 100 million, respectively, not stating how much bitcoins they bought. This estimate is based on the price of Bitcoin at the time the company made the deal.

It’s worth noting that four of the top six listed companies holding Bitcoin – Microstrategy, Tesla, Mass Mutual and Square – are not crypto businesses.

The list also does not take into account the companies BitcoinTreasuries.org (the main source of the data above) describes as “like ETFs” which view Bitcoin as regular investments like stocks for customers. goods. The company holding the most Bitcoins in this group is Grayscale with 600,000 Bitcoins – equivalent to more than 3% of all Bitcoins in circulation and worth about $ 30 billion at prices as of Feb. 9.

Although Tesla and Square own a remarkable amount of Bitcoin, this number is still relatively small compared to other “sharks” in the virtual currency market. According to information Fortune obtained in 2018, there are dozens of such “sharks” on the market. They own about 12,000 – 80,000 Bitcoin per person / entity.

At around 10:00 a.m. on February 21 (Vietnam time), Bitcoin was trading at $ 51,181, up nearly five times over the past year. Since the beginning of this year, this virtual currency has increased by nearly 75%.