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Home Technical analysis BTC

Bitcoin Held By Public Companies Now On Par With Past Market Cap

Tony Spilotro by Tony Spilotro
5 months ago
in BTC
Reading Time: 3min read
bitcoin btcusd
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The Bitcoin market cap is hovering at roughly $211 billion currently, but four years earlier, it was a meager $6.8 billion. This figure matches the BTC supply public companies now hold alone, and it could provide the “writing on the wall” regarding what to expect in terms of the asset’s future growth.

Bitcoin Matures Into Corporate Reserve Asset, Domino-Effect Could Drive New Bull Run

The crypto market is evolving: decentralized finance is far more sustainable than the ICO boom, and Bitcoin is maturing into a respected asset alongside gold, stocks, and more.

Related Reading | Square’s Bitcoin Investment Made $2 Million Over The Last 24 Hours

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What was once a retail-driven asset class, is now being strongly considered by hedge funds, gold bugs, institutions, and recently, a trend of publicly-traded companies adding BTC to their corporate treasury reserves.

bitcoin btcusd

Total BTC in USD Value Held In Publicly Traded Company Treasuries | Source: BitcoinTreasuries.org

The total amount of Bitcoin in USD currently held by fifteen companies is valued at $6.8 billion and climbing. $50 million was just added by the Jack Dorsey-led Square, Inc. in what seems to be a domino-effect kicked off by MicroStrategy.

The number is especially significant, because just four years earlier the Bitcoin total market cap was just $6.8 billion, before the bull run that put crypto on the map.

One crypto analyst that noticed the comparative amount of capital then and now, the “writing is on the wall” in terms of what happens next.

Market Cap Comparison Projects $6 Trillion BTC Market Cap If Same Path Is Followed

Bitcoin’s market cap then and now, can potentially forecast what to expect if the same growth rate continues.

Back then, the market cap was just $6.8 billion – as much as companies now hold collectively. Today, it is $211 billion and ready to soar.

From the meager beginnings of just $6.8 billion worth of the earliest adopter money, that same amount worth of BTC is now held by some of the biggest names in finance and tech. And the list could soon grow.

If Bitcoin’s market cap maintained the same 3,000% ROI from when it was $6.8 billion to now, from here to the next peak would project a market cap of over $6.6 trillion.

bitcoin btcusd

Projected Bitcoin Market Cap After Next Bull Market Peak | Source: Bitcoin Market Cap on TradingView.com

Bitcoin is unlike any other asset before it, but even it yields diminishing returns, so the same trajectory isn’t likely. Anything is possible in the world of cryptocurrencies, however, especially given the current economic conditions.

A $6.6 trillion market cap would take Bitcoin to a price of over $350,000 per BTC at the current circulating supply. A 3,000% increase of company capital alone, would bring the total to $211 billion, where Bitcoin’s market cap is right now.

Related Reading | Analyst: Sidelined Capital Enough To Push Bitcoin To $1 Trillion Market Cap

Out of all the numbers most likely to be false, it’s that one. If the trend of company capital coming into BTC continues, in four years, the once retail dominated market could be held by companies will billions in reserves that need protection from inflation.

If a domino effect occurs, and more companies follow suit, combined with the debasement of the dollar, $6.6 trillion may be selling Bitcoin’s next peak short despite what should be diminishing returns.

Featured image from Deposit Photos, Charts from TradingView.com & BitcoinTreasuries.org
Tags: bitcoinbtcbtcusdbtcusdcBTCUSDTcryptoMarket Capxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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