As Bitcoin becomes normalized in the eyes of traditional investors, many smart and wealthy people are entering the space. As such, many of the top Bitcoin holders have roots in the legacy financial system. Furthermore, an increasing number of prominent public figures are beginning to show support for Bitcoin and blockchain technology at large.
In this article, we’re going to explore some of the most prominent Bitcoin holders. We’ll discuss the most influential and important figures in the blockchain space. Plus, we’ll look at the top companies that hold Bitcoin on their balance sheets.
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Most Influential Bitcoin Holders
Although some of the biggest Bitcoin holders are relatively anonymous, some of the most prominent names in the space boast considerable Bitcoin holdings. Below, we look at some of the most influential Bitcoin holders.
Barry Silbert
Barry Silbert is the founder and CEO of Digital Currency Group (DCG). DCG aims to accelerate the development of financial infrastructures to promote cryptocurrency and blockchain adoption. According to Forbes, Silbert’s net worth is in excess of $1.6 billion.
The recent acquisition of crypto news outlet CoinDesk suggests that DCG is positioned to be at the center of the industry. Furthermore, Silbert is the CEO at Grayscale Bitcoin Trust; a Bitcoin exchange traded fund (ETF). Moreover, Sibert has received the title of “the king of crypto” after investing a reported 100 BTC into blockchain infrastructure and crypto firms.
Michael Saylor
Michael Saylor is the CEO of MicroStrategy, a U.S.-based software firm. Saylor made headlines for creating the “playbook” for institutional Bitcoin investing. Following this, several other high-profile CEOs and companies have followed suit by putting BTC on their balance sheets.
Since becoming an advocate for Bitcoin, Saylor has appeared on numerous media and news outlets to spread the word. Consequently, MicroStrategy's stock value has risen considerably.
Tyler and Cameron Winklevoss
The Winklevoss twins, Tyler and Cameron, are perhaps best known for their lawsuit against social media giant Facebook. Reports suggest that the brothers were responsible for many of the original ideas behind Facebook, which resulted in a hefty payout.
Following this, the Winklevoss brothers have become household names in the crypto world. Furthermore, the brothers started the prominent crypto exchange Gemini. As such, the Winklevoss twins are among the most high-profile Bitcoin holders.
Elon Musk
Elon Musk is the CEO and co-founder of the electric vehicle manufacturer Tesla. Musk has a peppered relationship with the crypto community. Further, Musk hit the headlines after announcing that Tesla would accept Bitcoin payments for electric cars.
However, the environmental impacts of crypto mining forced a change of heart soon after the announcement. Despite this, Musk continues the discussion around "green" mining.
Michael Novogratz
Michael Novogratz is CEO of Galaxy Investment Partners and one of the longest-standing advocates for Bitcoin. The former fund manager at Fortress Investment Group and partner at Goldman Sachs has appeared in multiple broadcasts for news outlets promoting Bitcoin as a legitimate investment asset. Accordingly, many look to Novogratz for a clear-headed perspective and rational commentary on Bitcoin.
Brian Armstrong
Brian Armstrong is the founder and CEO of Coinbase, the largest cryptocurrency exchange in North America. The early Bitcoin investor and former software engineer left Airbnb in 2012 to pursue a career in crypto and has since become one of the loudest voices in the industry. Furthermore, Coinbase went public in 2021. Accordingly, the exchange has become a popular indirect investment vehicle for Bitcoin and the broader crypto market.
Cathie Wood
Cathie Wood is a high-profile investor and founder of ARK Invest, a U.S.-based investment management firm. Wood is one of the biggest advocates for Bitcoin and among the most respected investors in the space.
Furthermore, the renowned stock picker is one of the top investors of Tesla with ARK Investment. Plus, the flagship Ark Innovation ETF has seen average annual returns of over 40% for the last five years.
Top 10 Companies Holding Bitcoin
In recent months, it has become quite fashionable for public companies to hold some Bitcoin on their balance sheets and in their treasuries. It is not uncommon for companies to hold stocks and gold in their treasuries. However, some of the most prominent Bitcoin holders are now companies. Below, we look at the top ten companies that hold Bitcoin.
MicroStrategy
MicroStrategy is a leading business analytics and software firm. Also, MicroStrategy is the largest institutional investor of Bitcoin. During the past year, MicroStrategy has accumulated 125,051 BTC, equating to around $5.4 billion, according to "buybitcoinworldwide.com/treasuries/".
MicroStrategy CEO Michael Saylor is one of the most prominent advocates for Bitcoin. Accordingly, Saylor has publicly stated that he personally owns 17,732 BTC, putting him among the top 100 Bitcoin holders. However, Saylor has not always been an advocate for Bitcoin. The CEO claimed in 2013 that Bitcoin was not a viable long-term investment. The change of heart follows a great deal of education and research, which has seemingly prompted Saylor to change course on the asset.
MicroStrategy hosted a “Bitcoin for corporations” stand at the "World.Now" conference to encourage other firms to follow suit. Also, Saylor himself has offered to share his “playbook” with other prominent figures to encourage large-scale institutional adoption of Bitcoin. Accordingly, many see Saylor as a potential catalyst for a wave of companies seeking to add Bitcoin to their balance sheets.
Tesla
At the time of writing, Tesla currently holds 42,902 BTC, worth around $1.8 billion. Furthermore, Tesla sold 10% of its Bitcoin bag in Q1 of 2021. The aim of this was to prove the liquidity of Bitcoin was substantial enough to make it a viable alternative to cash held on balance sheets.
Following months of discussion and speculation on social media, Musk jumped on the Bitcoin bandwagon in March 2021 by announcing that Tesla would accept Bitcoin payments for electric vehicles. However, this would prove to be short-lived. Two months in, Musk announced that the firm would no longer accept Bitcoin payments.
This was due to concerns over the sustainability and environmental impact of Bitcoin mining. Despite this, Tesla is still the second-largest institutional Bitcoin holder. Moreover, Dogecoin holders can still purchase selected Tesla merchandise using the number one meme coin.
Galaxy Digital Holdings
Galaxy Digital Holdings is a crypto investment firm that holds 16,400 BTC (equating to $711.5 million) at the time of writing, according to "buybitcoinworldwide.com/treasuries/". Founder Michael Novogratz is a renowned gold investor and one of the most prominent advocates of Bitcoin, appearing on various mainstream media outlets to discuss the subject.
The firm released a joint proposal for a spot Bitcoin exchange traded fund (ETF) in September 2021. However, Bitcoin futures ETFs are currently the only type of ETF approved by the U.S. Securities and Exchange Commission (SEC).
Voyager Digital LTD
Voyager Digital is a crypto brokerage firm that offers a comprehensive trading platform for digital assets. With a reported 12,260 BTC on the Voyager balance sheet, the platform is among the top crypto brokerages available. Also, Voyager Digital reported its quarterly revenue of $60.4 million in May 2021. This marks a 16x increase from the previous quarter.
Voyager Digital is listed on the Toronto Stock Exchange (TSX). Also, investors can access over-the-counter (OTC) services via U.S. brokerages. The firm aims to promote transparency and cost-efficiency. Investors can gain exposure to more than 60 different crypto assets and earn up to 12% APY on over 30 assets. Moreover, Voyager Digital offers a crypto payment service for merchants and consumers via the Coinify ApS subsidiary.
Marathon Digital Holdings, Inc.
Marathon Digital Holdings is a North American enterprise Bitcoin mining firm with a focus on sustainability. Also, Marathon aims to establish the largest Bitcoin mining operation in the world and increase the hashrate of the Bitcoin network to increase BTC production and mining profitability with minimal energy costs.
Furthermore, Marathon Digital began as a patent-holding firm before shifting towards Bitcoin mining. At the time of writing, the Marathon Digital Holdings corporate treasury holds 8,133 BTC, worth approximately $353 million. Moreover, the firm anticipates a collection of around 200,000 Bitcoin miners by the end of 2022.
Block, Inc.
Block (formerly Square) is a payments provider with an “ongoing commitment” to Bitcoin. CEO Jack Dorsey is also a Bitcoin advocate and runs his own Bitcoin node. At the time of writing, Block holds 8,027 BTC, worth approximately $348 million. Plus, the firm has allocated $5 million to promote blockchain education, along with plans to reduce the environmental impact of cryptocurrency mining.
Furthermore, Block announced plans to create a Bitcoin hardware wallet in July 2021. Following this, Dorsey also tweeted that the firm would consider venturing into Bitcoin mining rig manufacturing. The name change seemingly pays homage to the underpinning technology of the number one crypto asset. Moreover, Dorsey announced his intentions to step down as CEO of the social media platform Twitter in late 2021 to concentrate on Block.
Hut 8 Mining Corp
Hut 8 Mining Corp is a Canadian mining company listed on Nasdaq Global Select Market. The firm holds 5,242 BTC, worth approximately $253 million. Also, Hut 8 generates additional shareholder value by participating in yield arrangements using newly mined BTC.
Furthermore, Hut 8 operates an array of proprietary hardware for data mining and cryptocurrency mining. Plus, Hut 8 intends to capitalize on the geopolitical landscape that is freeing up mining machines in China.
Core Scientific
Core Scientific is among the leading blockchain and artificial intelligence (AI) infrastructure providers in North America. The firm designs and operates some of the most sophisticated technologies and infrastructures on the market. Plus, it has a carbon-negative ethos, with a commitment to reducing its environmental footprint.
Accordingly, more than half of the energy used by Core Scientific comes from non-carbon emitting sources such as hydro, wind, solar and nuclear. Moreover, the platform boasts scaled infrastructure, hosting services, and sustainable self-mining operations.
Riot Blockchain, Inc.
Based in the U.S., Riot Blockchain, Inc. is a Bitcoin mining firm aiming to increase the overall hash rate of the Bitcoin network. At the time of writing, the firm boasts holdings of 4,889 BTC, equating to over $200 million. Also, Riot Blockchain oversees the single largest Bitcoin mining operation in North America.
Bitfarms Ltd
Bitfarms is an eco-friendly crypto mining firm with operations in the U.S., Canada, and Paraguay. Also, Bitfarms uses 99% hydroelectric energy. Currently, Bitfarms holds 4,600 BTC, worth around $200 million at the time of writing.
Bitcoin Holders: Summary
Bitcoin is becoming legitimized in the eyes of traditional investors. Also, many highly influential figures in the legacy finance world are becoming advocates for cryptocurrency. The Bitcoin holders discussed in this article are among the most prominent names in the industry. However, most of the biggest Bitcoin holders tend to keep somewhat of a lower profile. Despite this, you can check out some of the biggest Bitcoin whales using this Bitcoin address list.
Also, the pseudonymous developer(s) responsible for creating Bitcoin reportedly have significant BTC holdings in some early wallets. Although the identity of Satoshi is unclear and the amount of BTC they have is unknown, it is widely believed that much of the stagnant BTC from the early days belong to this person or group of people.
Additionally, Bitcoin ETFs have become one of the most popular ways for traditional investors to gain exposure to the price of the asset without actually holding it. At the time of writing, Bitcoin ETFs account for more than 3.8% of the total supply of BTC.
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