Bitcoin Climbs, Bringing Substantial Gains

Bitcoin‘s recent dramatic rise to a peak of over $118,000 has significantly boosted the wealth of its major institutional holders. Companies and countries with large Bitcoin investments are seeing substantial increases in the value of their holdings. However, there appears to be little interest in cashing in on these profits.

Who are the Biggest Bitcoin Holders?

Data from BitcoinTreasuries indicates that Strategy, a company that transitioned from technology to cryptocurrencies, possesses close to 600,000 Bitcoins. This position has yielded an unrealized gain of approximately $28 billion, with the company’s total investment surpassing $42 billion. Strategy is the third-largest Bitcoin owner, trailing only Satoshi Nakamoto and BlackRock.

Although Strategy holds Bitcoins directly on their balance sheet, BlackRock secures them for their clients. The iShares Bitcoin Trust by BlackRock started its operations in January of last year. Michael Saylor, the co-founder and chairman of Strategy, consistently emphasizes their policy of holding rather than selling.

Michael Saylor: “The laments of sellers echo through eternity.”

What Other Firms and Countries Are Benefiting?

Japanese firm Metaplanet has been actively purchasing Bitcoin since 2024 and now holds around 15,555 Bitcoins. Their current valuation stands at approximately $1.83 billion, with an unrealized profit of $284 million. Meanwhile, El Salvador, which adopted Bitcoin as legal tender, owns 6,234 Bitcoins. These assets have surged in value to about $733 million, recovering significantly from a dip in 2022.

Improving Outlook for Smaller Enterprises?

The price hike in Bitcoin also benefits smaller firms. Semler Scientific mirrors Strategy’s approach and currently holds 4,636 Bitcoins, realizing nearly $160 million in unrealized profits. Similarly, Blockchain Group from France acquired 900 Bitcoins, generating about $30.5 million in gains.

Despite the large-scale profits, widespread selling has not ensued among holders, who are often described as “maximalists”—investors viewing Bitcoin as a long-term asset. A critical moment could arrive by July 12, where a single sell-off by a key player may instigate a broader market shift.

The latest Bitcoin surge sheds light on how institutional investments might shape cryptocurrency market dynamics. Their preference for holding Bitcoin can enhance market trust and stability while their increasing diversification and earnings reinforce cryptocurrency’s legitimacy in finance.