- MicroStrategy‘s Bitcoin holdings have surpassed $40 billion in value, driving its stock to record highs.
- Over 70 public companies are following MicroStrategy’s Bitcoin treasury strategy.
- Tesla maintains approximately 10,000 Bitcoin in its corporate treasury.
- Block holds more than 8,000 Bitcoin valued at $758 million.
- New entrants like Rumble and LEEF Brands have announced Bitcoin investment strategies in recent months.
Corporate Bitcoin Rush: MicroStrategy’s Success Sparks New Wave of Public Company Investment
Public companies are rapidly adopting Bitcoin as a treasury reserve asset, following MicroStrategy‘s profitable strategy that has accumulated over $40 billion worth of the cryptocurrency. The trend has accelerated as Bitcoin reached $108,000 in December 2023, attracting both established tech giants and emerging companies to the digital asset space.
Tech Giants Lead the Way
Tesla, under CEO Elon Musk, maintains approximately 10,000 Bitcoin according to its latest SEC filing. The electric vehicle manufacturer first invested $1.5 billion in Bitcoin in February 2021, although it temporarily paused accepting the cryptocurrency for vehicle purchases due to environmental concerns.
Block, the financial services company formerly known as Square, holds more than 8,000 Bitcoin worth approximately $758 million, based on market estimates. The company initiated its Bitcoin investment strategy in October 2020 with an initial purchase of 4,700 tokens.
New Market Entrants
Video platform Rumble announced plans to invest up to $20 million in Bitcoin, while receiving a $775 million investment from stablecoin firm Tether. Cannabis company LEEF Brands revealed its Bitcoin strategy through a $5 million Bitcoin-backed debenture offering, as stated in their corporate announcement.
Medical Technology Sector Joins Bitcoin Movement
Semler Scientific, a medical technology firm, has accumulated 2,084 Bitcoin as of December 15, according to their corporate disclosure. CEO Eric Semler stated: "We plan to continue to purchase bitcoin with cash from operations and with cash proceeds from our sales under our ATM program." The company’s Bitcoin holdings are currently valued at nearly $200 million.
Marketing technology firm Banzai has allocated up to 10% of its corporate treasury for Bitcoin investments, citing long-term value appreciation potential in their official statement.
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