Bitcoin is the largest cryptocurrency in which Fortune 500 companies have invested billions of dollars. Publicly traded companies have held Bitcoin reserves for years through all the ups and downs of the market. However, the crypto crash in 2022 wiped out most of the profits of the top 5 publicly traded companies with the largest Bitcoin portfolios. According to some, a speedy recovery may not be possible anytime soon. Some more damage is expected. So, which are the biggest public companies holding the most Bitcoin? Here is the list…
MicroStrategy became the company with the most Bitcoin
Michael Saylor’s MicroStrategy has the most Bitcoin (BTC) held by a public company. The business analytics firm has mostly adopted BTC as its primary reserve after aggressively buying crypto from 2020. MicroStrategy has amassed millions of dollars worth of Bitcoin over the past two years, both during the ups and downs.
Currently, MicroStrategy owns about 129,218 Bitcoins, which is close to almost $3 billion. Although its market share has decreased significantly, Saylor is confident that Bitcoin will reach new highs soon. Saylor believes that BTC will reach more than one million and will make a profit in the long run. He thinks Bitcoin is the future of money.
Despite sales, Tesla has $1.1 billion in Bitcoin
Electric car company Tesla had sold 75 percent of its BTC holdings on sale. Despite this, it is the second company holding the most BTC. Tesla’s report for the second quarter of 2022 shows that the firm sold about $936 million worth of Bitcoin to “get cash” due to the Covid-19 lockdowns in China. Tesla announced for the first time that it bought BTC in February of last year.
“The reason we sold some of our Bitcoin holdings was because we were unsure when the COVID lockdowns in China would ease,” said Elon Musk. cryptocoin.com As we have also reported, Tesla owns 48,000 Bitcoins worth $1.1 billion. This makes the company the second publicly traded company with large BTC investments.
Galaxy Digital is the last company on the list
Crypto tycoon and billionaire Michael Novogratz founded Galaxy Digital Holdings. The firm is a corporate company directly related to the crypto industry through its commercial bank. Since its launch in 2018, Galaxy Digital Holdings has partnered with multiple crypto companies, including Block.one and BlockFi. Similar to MicroStrategy, Galaxy Digital Holdings is a staunch advocate of BTC and the crypto markets in general. Galaxy Digital Holdings currently holds 16,402 BTC worth approximately $380 million in its portfolio.
