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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Circle stock continues eye-popping post-IPO surge as stablecoin momentum builds
Circle Internet Group (CRCL) stock jumped as much as 18% Monday to a new intraday high, continuing the stablecoin issuer’s meteoric rise following its blockbuster IPO earlier this month.
The stock climbed to $165 before trimming gains, building on Friday’s 25% surge, as investor enthusiasm around stablecoins — digital tokens backed by reserve assets like the U.S. dollar — continues to grow.
Since its highly anticipated public markets debut on June 5 at $31 per share, Circle has soared roughly 400%.
NYSE - Nasdaq Real Time Price • USD # (CRCL)
Bernstein analyst Gautam Chhugani wrote in a note Monday that "stablecoins have brought mainstream attention back to the underlying global rail - the blockchain, and its transformative potential over the long decade."
Chhugani expects the legislation, called the Stablecoin GENIUS Act, to be the first bipartisan bill to be passed by the end of this summer.
Jeremy Allaire, Co-Founder, Chairman and CEO of Circle, participates in the State of Crypto Summit, in New York, Thursday, June 12, 2025. (AP Photo/Richard Drew) · ASSOCIATED PRESS Circle is an issuer of the stablecoin USDC (USDC-USD), which is backed by the dollar.
The company had $60 billion worth of the token in circulation at the end of the first quarter. Circle is the second-largest stablecoin issuer on the market, trailing only Tether, which has nearly $150 billion in circulation.
The company generates the bulk of its revenue through "reserve income" — profits earned from the cash reserves backing the USDC stablecoins.
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