Public companies have bought up $88 billion worth of bitcoins 🔥

Public companies involved in trading digital assets have started actively buying bitcoins. This is how they reacted to a sharp jump in its value. Companies hope that cryptocurrency reserves will help them increase their own market capitalization, writes the Financial Times.

According to BitcoinTreasuries.net, the number of public companies that own bitcoins has grown from 89 in early April to 113. Now their portfolios have accumulated about 800 thousand bitcoins worth $88 billion.

Back in early April, the bitcoin rate on online platforms fell to $76 thousand. But against the backdrop of Donald Trump's attempts to conclude a trade deal with China and reduced volatility in stock markets, the cryptocurrency rate began to grow rapidly, reaching last week a historic mark of $112 thousand per digital coin.