Public companies’ crypto holdings double to $160B: Can the growth hold in Q3?
Main Idea
Public companies' crypto holdings have doubled to $160 billion, driven by Bitcoin's rally to a record high, with Ethereum and Solana also gaining traction, though market uncertainty in Q3 could impact growth.
Key Points
1. Public companies' crypto holdings surged from $74 billion in April to $160 billion by July, with Bitcoin accounting for $147 billion of this total.
2. MicroStrategy's BTC holdings alone have an unrealized profit of $28 billion, setting a trend for other companies to invest in cryptocurrencies.
3. Ethereum has seen increased interest, with public companies and Web3 firms holding around 2.8 million ETH worth $10 billion, though public company holdings dipped slightly to $6.3 billion.
4. Solana has modest holdings of $1 billion among public companies, significantly less than Ethereum and Bitcoin.
5. Market volatility and macroeconomic uncertainty in Q3 could affect the continued growth of these crypto holdings.
Description
Crypto treasury frenzy has doubled since April.
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