The interest of institutions in Bitcoin has increased especially this year. Almost every week, we see a different company entering the industry or increasing their Bitcoin assets.
MicroStrategy on the NASDAQ list made it through several acquisitions and was one of the first institutions to enter the industry. Currently, Michael Saylor’s company has purchased more than $ 1 billion in Bitcoin. Twitter CEO Jack Dorsey’s Square followed MicroStrategy with a $ 50 million acquisition and found itself among the firsts. Among the institutions that bought BTC, there are many big names such as MassMutual. There are currently around 28 public companies, private companies and ETF-like funds represented on the web portal bitcointreasuries.org. 28 organizations have 1,150,622 BTC worth over $ 27 billion, using 5.48% of today’s supply.
Finally, on December 23, Canadian financial technology company Mogo announced that the company plans to invest 1.5% of its reserve assets in Bitcoin by the end of the year.
Mogo had already started devoting energy to the cryptocurrency economy long before, and in 2018 the firm launched the Mogocrypto application. The application allows users in Canada to buy and sell Bitcoin (BTC) using their smartphones. More recently, Mogo announced it is launching a Bitcoin rewards program that rewards users in Bitcoin if they interact with Mojo’s products.
Mogo’s plan shows that corporate interest in Bitcoin continues unabated.