Bitcoin Treasuries Records Show $2.1 Billion in BTC Was Erased From Balance Sheets – Bitcoin News

During the 12 months, public companies, private companies, exchange-traded funds, and even countries have added bitcoin to their balance sheets. As of July 17, 2022, the aforementioned types of entities hold approximately 1,325,396 bitcoins worth $27.84 billion today. However, the number of coins stored in bitcoin treasuries has dropped since June 5, 2021, by approximately 102,045 bitcoins worth $2.1 billion.

Bitcoin Balance Sheet Data Slides From 1.42 million to 1.32 Million

Last year, bitcoin (BTC) saw a significant rise in U.S. dollar value reaching $64K in April and $69K in November. Since the $69K price high, bitcoin has shed close to 70% in value against the U.S. dollar during the past eight months. Year-to-date bitcoin (BTC) is down 33.8% against the U.S. dollar.

In 2021, numerous headlines discussed the growing list of bitcoin treasuries stemming from the likes of publicly listed and private firms. Companies like Microstrategy (Nasdaq: MSTR) started the trend and the list includes firms like Tesla (Nasdaq: TSLA), Block Inc. (NYSE: SQ), and Galaxy Digital (TSE: GLXY).

As the months continued last year, bitcoin and a number of other crypto assets tapped all-time price highs, and countries like El Salvador added BTC to their balance sheets. Over a year ago today or 13 months ago, on June 5, approximately 1,427,441 bitcoins were stored by public companies, private companies, exchange-traded funds (ETFs), and countries.

At that time last year, the 1.42 million BTC was worth $78,387,515,121 using bitcoin exchange rates on June 5 ($36.3K per unit). Today, there’s a lot less BTC held in bitcoin treasuries as the list currently shows 1,325,396 bitcoins are currently owned by firms and countries. Year-to-date metrics on June 5, 2021, indicate that bitcoin (BTC) was up 284.2% against the U.S. dollar.

The value of that stash today is only worth $27.84 billion and the 102,045 BTC that were sold are currently worth $2.1 billion. Recorded data from the Bitcoin Treasuries list via archive.org shows there were 33 publicly-listed companies that held BTC on their balance sheets on June 5, 2021.

Today, there’s 38 public firms that hold bitcoin in their treasuries and they collectively hold 262,695 BTC worth $5.5 billion. Last year there were four private companies that held BTC and now there’s seven.

Last year when there were four companies, they collectively held 317,383 BTC but today, the seven…