For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business.
That taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin in recent years.
The floodgates first opened when cloud software company MicroStrategy bought $425 million worth of Bitcoin in August and September 2020. Others followed suit, including payments processor Block and electric car manufacturer Tesla.
Per BitcoinTreasuries, public companies holding Bitcoin now account for 5.39% of the total supply of 21 million BTC. These are the biggest holders as of this writing.
