MicroStrategy’s Bitcoin Acquisition Plan—once maligned by big business—has recently led to blockbuster profits for the software company Bitcoin The boom has pushed its stock price to record highs in recent months as its holdings have surpassed the $40 billion coin mark.
And its success has inspired copycats, but MicroStrategy founder and CEO Michael Saylor probably doesn’t mind – he in favor of such a movement for years.
In recent months, several other publicly traded firms have revealed corporate strategies to accumulate Bitcoin as a treasury reserve asset, while others are investing in the cryptocurrency and owning the asset.
in love 70 companies MicroStrategy’s crypto-first business strategy came amid bitcoin’s rise: President-elect Donald Trump pledged to create a national reserve of the digital currency last summer, and the token hit $108,000 in December. .
While Bitcoin is below the $95,000 mark at the time of writing, there appears to be no sign of the trend slowing down—several companies have announced their plans in the past week.
Here are seven more publicly traded companies that are following MicroStrategy’s lead and hoarding Bitcoin.
Tesla
Led by Tesla, an electric car company Dogecoin fanatic Elon MuskBitcoin has been holding for four years. And also Moved tokens to new wallets last fall, there is no indication that the automaker is selling Bitcoin.
Tesla has a long history with Bitcoin. Primarily a public company revealed It announced in February 2021 that it has invested $1.5 billion in the world’s oldest cryptocurrency and plans to accept tokens as payment for its cars.
It abandoned his last plans After Musk shared his concern about the environmental impact of Bitcoin mining, and He sold some of the coins— but he still has a significant reserve. The company has held approximately 10,000 bitcoins in recent quarters give away with federal regulators.
Block
Financial services conglomerate Block — the firm behind the Square payment platform — owns 8,000 BTC worth at least $758 million at the time of writing. to assess.
The company founded by Jack Dorsey began buying Bitcoin a few months after MicroStrategy. His first Bitcoin purchase was in October 2020, when he withdrew more than 4,700 tokens.
Rumble
In November, video streaming platform Rumble became one of the latest public companies to disclose its Bitcoin treasury backup strategy. According to the plan to buy Bitcoin, Rumble will invest up to $20 million in the digital asset, according to the company message.
It also aims to reinvent itself as a platform for the crypto community. To achieve this goal, there is a company received an injection of 775 million dollars From Tether stablecoin.
LIVE Brands
Cannabis company LEEF Brands announced in December that it would accept Bitcoin as a treasury-backed asset.
The Canadian business plans to make the investment through a $5 million Bitcoin-backed bond, according to the company. message.
Semler Scientific
Medical technology company Semler Scientific began buying the largest cryptocurrency by market capitalization last May. made his debut His Bitcoin Reserve Treasury Strategy.
Since then, the firm has made several large purchases of the token, with activity increasing towards the second half of last year.
“We plan to continue to purchase bitcoins for cash from operations and cash from sales as part of our ATM program,” Semler Scientific CEO Eric Semler said in November. “We are exploring additional funding opportunities that will allow us to obtain even more bitcoins.”
Semler Scientific had 2,084 bitcoins as of December 15th. according to to his website. At the time of publication, the value of the coins is close to $200 million.
Banzai
Marketing technology solutions firm Banzai announced in November that it would invest up to 10% of its corporate treasury into Bitcoin. Adding Bitcoin to Banzai’s balance sheet will allow the company to capitalize on the cryptocurrency’s long-term appreciation while diversifying the assets in its treasury, Banzai CEO Joe Davey said. said in a statement last year.
Edited by Andrew Hayward
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