Cofounder of Reflexivity Research and cryptocurrency expert William Clemente has written a piece that contrasts public corporations based on how much Bitcoin (BTC) they possess.
The largest of the top 10 publicly traded firms holding bitcoin, according to this data, is the business analytics behemoth MicroStrategy.
MicroStrategy beats Tesla “Bitcoinwise”
In August 2020, MicroStrategy started to amass Bitcoin, establishing this as a long-term plan. It carried on purchasing significant amounts of Bitcoin throughout the next years, investing millions of dollars in it and even issuing further bonds to obtain money for BTC purchases.
According to that chart, the business founded by Michael Saylor, who just resigned as CEO, currently has 152,800 Bitcoins valued at over $4.4 billion on its books. That is 0.728% of the entire supply of 21 million BTC. Michael Saylor said in April of this year that the corporation has invested an additional $29.3 million in Bitcoin, bringing its total holdings to 140,000 BTC. The entire supply possessed by MicroStrategy as of this point has reached the aforementioned amount.
Third on this list with 10,725 BTC valued $309.8 million is Elon Musk’s Tesla. Since it was just recently disclosed that Tesla possesses $184 million worth of Bitcoin on its balance sheet, it is still unknown how long the data for the time covered by this table actually spans.
Tesla’s relations with Bitcoin
Early in 2021, Elon Musk implemented Bitcoin payments for Tesla after the business spent $1.5 billion on the cryptocurrency. Musk eventually shut down this payment method due to environmental issues related to Bitcoin mining, though, after a few months. He said that Tesla will start selling its electric vehicles for Bitcoin if the mining industry was at least 50% powered by renewable energy. Michael Saylor claims that this was accomplished the same year.
In the meanwhile, SpaceX and Tesla both take DOGE as payment for their goods, albeit Tesla has yet to start taking Bitcoin again. Dogecoin is mined using the same proof-of-work algorithm as Bitcoin, which is roundly criticised by environmentalists. However, Musk does influence these PoW currencies, and it works in Dogecoin’s favour.
