Did you know that 1% of Bitcoin’s supply is held by publicly traded companies? This may not sound like much, but it marks the start of a recent trend that has been responsible for taking the crypto market to new all-time highs over the last year. Companies are adding BTC to their balance sheets almost every other week as of late, and there’s lots of speculation about which big names are likely to be next. Today I’m going to tell you about a few companies that hold Bitcoin, how much BTC they hold, if and when they’ll sell, and which companies could be adding BTC to their balance sheets in the near future.
Disclaimer: After getting the whole permissions, all the content converted from Coin Bureau’s “Companies BUYING BITCOIN!! What To Look Out For!” video.
It’s been almost exactly one year since the first publicly-traded company announced that it had put BTC on its balance sheet. The company in question is none other than Microstrategy, which purchased over 21000 BTC last August.
Since that time, Microstrategy has accumulated a whopping 105000 BTC worth over 4.8 billion dollars at today’s discounted prices.
Microstrategy is a tech company that develops software for data analysis, and it was founded in 1989 by Michael Saylor, Sanju Bansal, and Thomas Sparr.
Michael has been the CEO of Microstrategy since the company was founded, and he is the primary reason why Microstrategy has bought so much BTC.
This is because Michael is a Bitcoin bull in every sense of the word, and he personally holds at least 17000 BTC in his own wallet.
The reason why Michael pushed for Microstrategy to purchase BCC2 was that quote “It makes sense to shift our treasury assets into some investments that can’t be inflated away or are less likely to be inflated away.”
In other words, Microstrategy bought BTC to protect itself against inflation caused by the relentless money printing by central banks around the world.
If you’re wondering when this BTC will make it back onto the market, Michael has noted on many occasions that neither he nor Microstrategy will sell their BTC holdings.
I reckon I believe him gave that Microstrategy has even gone as far as filing to sell hundreds of millions in debt and billions in stocks to buy even more BTC.
This is a significantly different approach to the one taken by the second publicly traded company, which announced its BTC purchase last year.
This was Square’s purchase of over 4,700 BTC in October, and Square has purchased an additional 33,000 BTC since that time, totaling nearly 400 million dollars.
Categories: CRYPTO PROJECTS
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