Institutional Confidence in Bitcoin Grows: Public Companies Increasing Holdings

Public companies are showing renewed confidence in Bitcoin, with the number of those holding the cryptocurrency surging by 38% between July and September, according to a report from crypto asset manager Bitwise. This trend is driven by increased institutional interest, as seen through the addition of new companies to their holdings and a surge in the total value of corporate Bitcoin holdings. Bitwise’s analysis shows that over 170 public companies now hold Bitcoin on their balance sheets, with 48 joining the ranks in the third quarter alone.