The post Bitcoin Rich List: Who’s Stacking, Who’s Slacking? appeared first on Coinpedia Fintech News
In recent months, many major companies around the world have started buying large amounts of Bitcoin. It seems like every few days, there’s news about another business joining the growing list of Bitcoin investors.
One of the first big names in this space was MicroStrategy, led by its CEO, Michael Saylor. Years ago, the company began buying Bitcoin, and since then, its stock price has jumped by an incredible 3,000%. Saylor has said he believes other companies will have no choice but to follow, especially as Bitcoin prices keep rising.
Why Are More Companies Buying Bitcoin?
As explained by an analyst, it’s simple: when a few companies start buying Bitcoin and their stock prices rise, other businesses take notice. Soon, more companies feel pressured to join in, which pushes Bitcoin’s price even higher. As the price rises, it becomes more expensive for new buyers to enter the market, which creates a rush to buy before prices climb further.
New Player From Indonesia
A company called DigiAsia from Indonesia has just announced its plans to buy $100 million worth of Bitcoin. While it’s not as big as MicroStrategy’s investments, it’s still a huge amount. What’s more surprising is that DigiAsia plans to use 50% of its future profits to keep buying Bitcoin. This shows they’re serious about making cryptocurrency a key part of their financial strategy.
More Big Numbers from Other Companies
Another company called MetaPlanet has also been making headlines. They want to build a Bitcoin reserve of 10,000 Bitcoins by the end of this year, and 21,000 by the end of next year. Recently, they revealed they’ve already collected over 6,700 Bitcoins — much faster than expected.
The big question now is: with Bitcoin’s price expected to rise to around $370,000 to $500,000 by the end of this year, will these companies still be willing to buy more at such high prices? And what will happen if Bitcoin hits $2.4 million by 2029 or 2030, as some predictions suggest?
What Does This Mean for Regular Bitcoin Holders?
Every time a company buys thousands of Bitcoins, it reduces the number of coins available for everyone else. Some experts have said that one day, even millionaires and billionaires won’t be able to buy a full Bitcoin because so many have been taken off the market by big companies.
There’s an old idea in the crypto world that owning just 0.28 Bitcoin would put you in the top 1% of Bitcoin holders. Back then, people thought it was a small number. But with companies grabbing up huge amounts of Bitcoin, that 0.28 BTC is starting to look a lot more valuable.
In Short
More and more companies are buying Bitcoin as a long-term investment. As these businesses keep adding to their Bitcoin reserves, it could drive prices up and make it harder for others to buy in the future. And if Bitcoin reaches the price levels some experts predict, it’ll make the small amounts of Bitcoin owned by regular investors even more valuable.