Investments in bitcoin (BTC) in public companies have exceeded $ 6.8 billion this year as newcomers catch up with Grayscale’s heavy hierarchy in the industry.

According to the monitoring provider Coin98 Analytics, only 13 public companies have invested in bitcoin.

Place the shade of gray “sun” in the shade
Asset management giant Grayscale remains the largest player in BTC with 449,596 BTC ($ 5.14 billion) under its control, followed by CoinShares with 69,730 BTC ($ 797 million).

MicroStrategy, the company that created the uprising when it announced the transition to the “Bitcoin standard”, has 38,250 BTC ($ 437.1 million). In fourth place is Mike Novogratz’s Galaxy Digital, which controls 16,551 BTC ($ 189.1 million).

In total, 13 companies have locked about 600,000 bitcoins ($ 6.86 billion), and this number is increasing as the shade of gray remains at the top so far.

“Gray is the sun,” commented CEO Barry Silbert to Coin98 Analytics data.

For all of Silbert’s marketing activities, however, it was MicroStrategy CEO Michael Sailor who made the biggest impression on cryptocurrency this year. Following the acquisition, Sailor began giving regular interviews about Bitcoin’s superiority over fiat, and his social media activities continued with the same message.

In response to Silbert’s October 12 tweet discussing the Bank of England’s perspective on Bitcoin, Sailor said:

“#Bitcoin is the first digital money system that is able to store all the money in the world for every person, company and government in a fair and just way, without losing anything. If it has no intrinsic value, then what is it? ”

Bitcoin clearly shows dollar deviation
Over the past month, Bitcoin has deviated from the strength of the US dollar and the volatility of VIX, and has opened up new opportunities for investors who want to diversify.

Compared to Cointelegraph Markets and data on digital assets, stocks are in the form of the S&P 500 and gold, which are now showing increasing correlation patterns with BTC.

This in turn has reinforced current expectations of a pure deviation from traditional markets, with analysts claiming that the “split” of bitcoin is paving the way for large price increases.

Source: CoinTelegraph