MicroStrategy’s Bitcoin Trove Flips Nike, IBM Cash Holdings
- MicroStrategy’s Bitcoin holdings have neared $26 billion.
- This puts the company ahead of global market leaders like IBM and Nike in terms of financial assets.
- The company doesn’t plan to slow down its Bitcoin accumulation strategy.
MicroStrategy’s aggressive Bitcoin accumulation plan, which started in 2020 when the company invested in the original cryptocurrency as a hedge against inflation, has seen it join the top ranks of the wealthiest corporations in terms of financial assets.
According to BitcoinTreasuries data, the Tysons Corner, Virginia-based business intelligence firm, has amassed nearly $26 billion in Bitcoin to become the largest corporate holder of the world’s largest crypto asset. It is ahead of Marathon Digital and Riot Platforms, which hold a combined $3.4 billion in BTC.
MicroStrategy’s Growing Financial Muscle
In a recent report , Bloomberg said MicroStrategy’s $26 billion Bitcoin stash was larger than the cash and the marketable securities holdings of global market leaders, such as Nike Inc., International Business Machines Corp., and Johnson & Johnson.
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While Nike held $11.882 billion in cash and marketable securities as of March of this year, IBM recently reported that it had $13.7 billion in cash, restricted cash, and marketable securities. Johnson & Johnson’s latest Q3 report shows it had $20 billion in cash and marketable securities.
According to the report, only a handful of corporations, including Apple Inc. and Alphabet Inc., hold more assets in their treasuries than MicroStrategy .
Although MicroStrategy’s Bitcoin move has recently drawn skepticism from traditional finance observers, other investors have embraced it as a viable strategy for participating in the crypto asset’s rally without holding it directly on wallets or exchanges.
MicroStrategy’s shares have risen by over 2,500% as the value of Bitcoin has gained by over 700% since 2020, making it the best-performing U.S. major stock.
Other companies seeking to emulate MicroStrategy’s Bitcoin success include Metaplanet, the 19th largest corporate holder of the original cryptocurrency with 1,018.17 BTC.
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