Bitman on Nostr: Few people really know this, but as of today, there are already 223 entities — ...

Few people really know this, but as of today, there are already 223 entities — including 124 publicly traded companies — that have declared Bitcoin on their balance sheets. 🤯

In just the past month, 19 new companies have joined this group.

But how are they custodying these BTCs?

Most large companies use institutional custodians.

In other words, they delegate the custody of their BTC to third parties, much like they would with a bank vault.

But this solution comes with high costs and concentrated risks. After all, whoever holds the key… holds the Bitcoin.

And we’re not talking about just a few bitcoins.

If we combine private companies and publicly traded ones, we’re talking about more than 1.1 million coins.

In total, institutional and corporate adoption of Bitcoin already holds over 3.39 million BTC in circulation.

Several custodians are used, such as BitGo (Galaxy Digital, Fidelity Digital Assets, Anchorage Digital, and NYDIG).

But Coinbase Custody is currently the largest, having reported $114 billion in assets under custody in 2024.

For example, MicroStrategy uses Coinbase.