🏢 Corporations and Governments Driving the Bitcoin Surge
🏢 Corporations and Governments Driving the Bitcoin Surge
💰 Corporations are playing a significant role in the current bitcoin boom, with the top 60 public companies collectively holding 591,368 BTC. Microstrategy leads the pack with an impressive 444,262 bitcoins, far ahead of Marathon Digital in second place with 44,394 bitcoins.
📈 Microstrategy’s aggressive acquisition strategy has paid off, boosting its stock price by over 400% in 2024 and earning it a spot in the Nasdaq 100 Index. The company plans to raise $42 billion over the next three years to further increase its bitcoin reserves. Michael Saylor, the executive chairman of Microstrategy, remains optimistic about bitcoin’s future, predicting it could reach $13 million per coin by 2045.
🌍 The trend of corporations adding bitcoin to their portfolios is growing. Other notable companies include Riot Platforms with 17,429 bitcoins, Hut 8 with 10,096, and Tesla holding 9,720 bitcoins. The list also features Coinbase with 9,480 BTC, Block with 8,363 BTC, and Galaxy Digital owning 5,400 BTC. Germany’s Bitcoin Group SE holds 3,114 BTC, while Hong Kong’s Boyaa and Japan’s Metaplanet contribute 3,183 and 1,761 bitcoins respectively. Smaller firms like China’s Cango and Singapore’s Bitdeer also made the list.
🌐 Governments are increasingly recognizing the value of bitcoin as well. El Salvador has been at the forefront of this movement, accumulating around $600 million in BTC reserves since making bitcoin legal tender. The U.S. is considering establishing a strategic bitcoin reserve to enhance economic resilience, and Bhutan’s government currently holds nearly $1.13 billion in bitcoin. This shift towards diversifying reserves amid economic uncertainty and inflation is becoming more evident.
