February 11, 6:06 pm
Before 2021, the idea that publicly traded corporations might buy Bitcoin (BTC) for their reserves raised eyebrows or was even considered laughable. But ever since the crypto market boom three years ago, several major firms have continued buying hundreds of millions of dollars worth of Bitcoin, pushing their total holdings in the world's largest cryptocurrency to impressive figures. Still, one name stands out among them.
According to data presented by AltIndex.com, MicroStrategy has by far the largest BTC holdings worth over $8.8 billion as of last week, which is 17 times more than Tesla and 21 times more than Coinbase.
Although Tesla (TSLA) made headlines three years ago with its announcement of investing in Bitcoin, MicroStrategy quickly took over its place as the public company with the largest BTC holdings.
That year alone, the US business-intelligence software giant held over $5 billion in Bitcoin, twice Tesla's BTC holdings, showing the company doubled its investment in less than a year. The downside was that MicroStrategy used more than $1.6 billion in convertible debt to finance this. However, unlike some other major companies, MicroStrategy has continued investing in BTC ever since.
The Statista and Bitcoin Treasuries data show MicroStrategy's BTC Holdings increased by 53% in the past three years and hit more than $8.8 billion this month, much more than any other public company owns. Far below, Marathon Digital Holdings (MARA) ranked second with $731.5 million in total BTC holdings, up from $330 million the company owned three years ago.
Once the biggest Bitcoin buyer among public companies, Tesla dropped to third place. Statistics show Tesla now holds $451.7 million in Bitcoin, almost six times less than three years ago when the crypto boom started.
Bitcoin mining giant Hut 8 Corp and Coinbase follow, with $423.6 million and $418.5 million in BTC holdings, respectively.
The Bitcoin Treasuries data also showed that, besides these five largest Bitcoin buyers, another 33 public companies have invested in buying BTC. The total value of their combined Bitcoin holdings hit over $13 billion last week.
In regional comparison, American and Canadian companies lead in BTC investments. Statistics show that two-thirds of all companies that have invested in the world's most expensive crypto come from the two countries. Europe counts five Bitcoin buyers among public companies, and Asia follows with only three.
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The information provided by AltIndex is solely for informational purposes and not a substitute for professional financial advice. Investing in financial markets carries inherent risks, and past performance doesn't guarantee future results. It's crucial to do your research, consult with financial experts, and align your financial objectives and risk tolerance before investing. AltIndex creators and operators are not liable for any financial losses incurred from using this information. Users should exercise caution, seek professional advice, and be prepared for the risks involved in trading and investing in financial assets, only investing what they can afford to lose. The information in this application, derived from publicly available data, is believed to be reliable but may not always be accurate or current. Users should verify information independently and not solely rely on this application for financial decisions. By using AltIndex, you acknowledge that it doesn't offer financial advice and agree to consult a qualified financial advisor before making investment decisions.
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