Elon Musk might be a vocal supporter of cryptocurrencies, but his electric carmaker Tesla ranks second among the companies with the most Bitcoin (BTC) holdings. Tesla currently has about 42,902 bitcoins, lagging behind MicroStrategy, which has a total of 1,32,500 bitcoins. MicroStrategy Incorporated is an American company based in Virginia that provides business intelligence, mobile software and cloud-based services. The BTC holdings have been uncovered in the latest study by the Indian crypto asset management platform in their report titled “Crypto Overview 2023”.
According to the report, global currencies remain exposed to the heat due to the continued dominance of the dollar and the imminent threat of the CNY becoming the major financial bully in the future.
Kunji’s crypto report has published details on a total of five different organizations with the most bitcoin holdings.
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Galaxy Digital ranks third on the list of companies with the highest number of bitcoin holdings in the world. The digital asset and blockchain company has a total of 16,400 bitcoins.
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Another company, Marathon Digital Holdings, which is building one of the largest bitcoin mining operations in North America, ranked fourth for owning the maximum number of bitcoins, which stands at 11,285.
New York-based global information services platform The Block became the fifth company with a maximum Bitcoin holding of 8,027. Founded in 2018, Block covers a range of topics such as cryptocurrency and blockchain, among numerous other related topics.
The report states that BTC has the highest number of decentralizations and continues to be the most prominent holding of several private companies. It has further been claimed that the year 2022 has turned out to be pivotal for the digital asset market.
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According to Kunji, there have also been some major problems in the crypto industry. The collapse of Terra Luna was a major setback for the industry. Further bankruptcies followed.
While describing other failures such as the FTX crypto exchange meltdown, it said, “Unfortunately, the FTX meltdown and other events resulted in 2022 going down in history as one of the worst years for crypto investors.” It noted that the FTX collapse was the worst since the industry began with Bitcoin (BTC-USD) launch in 2009.
The study also found that 2022 was the second-worst single-year performance for Bitcoin since 2011, both year-on-year (-64 percent) and falling from an all-time high (-74 percent).
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