The tech industry is one of the biggest ones on the planet. Many of these companies actively invest in popular assets to keep their wealth for the future.
Thanks to the mainstream appeal of cryptocurrencies, more companies are trying to hold higher amounts of them. Bitcoin, the most popular crypto in history, is on many companies’ balance sheets today, which says a lot about the industry.
How much are tech companies holding in Bitcoin, though? We’ve gathered a list of the five biggest tech companies that currently hold this crypto on their balance sheets.
MicroStrategy is a business intelligence company in America. It provides clients with mobile software, business intelligence, and other cloud-based services.
Michael Saylor, the company’s executive chairman at the moment, has talked about Bitcoin on several occasions. He, along with his company, converted most of its assets into cryptocurrency, which is one of the riskiest moves a business can make.
At the time of entering the market, the company had invested about $3.975 billion.
Even though the holding’s value is lower than it was before, Michael Saylor claims the investment will pay off eventually.
Currently, MicroStrategy holds about 129,699 BTC in its portfolio, which translates to about $3.80 billion. It’s the company with the biggest Bitcoin holdings on the list.
Tesla is a company with a more “mainstream” appeal compared to the others on the list. It’s an automotive and clean energy company.
Most of Tesla’s work involves designing and manufacturing electric vehicles, solar panels and roof tiles, battery energy storage devices, and more.
Tesla was known for being one of the companies with the biggest Bitcoin holdings, with a whopping 42,902 BTC on its balance. This translates to about $1.25 billion at today’s price.
However, the company announced in July 2022 that it sold 75% of its holdings. Now, Tesla appears to have about 10,725 BTC or $313,94 million.
#3: Square Inc./Block Inc
Square is a company that focuses on mobile payment platforms and other financial services. It’s known for developing the Cash App, one of the most popular mobile payment services in the United States.
Even though Square’s investment in Bitcoin wasn’t as high as other companies’, it’s still impressive. It holds 8,027 BTC, which equals an entry value of $220 million that has gone down to $179.8 million.
Such an investment suggests that the people behind Square are still confident in what Bitcoin and the crypto market have to offer.
Nexon is a video game publisher that was initially established in South Korea. It has operated since 1994, and it created some of the most memorable video games in history, including MapleStory.
This company has about 1,717 BTC in its portfolio, which translates to $38,45 billion today.
Something impressive about Nexon is that Bitcoin is only a part of its portfolio. This company has actively invested in other industries not necessarily related to gaming.
Today, the market capitalization of Nexon is over $20 billion.
Meitu focuses on developing image/video processing software for mobile devices. The “Meitu” app has over 1 billion users, making it popular in most marketplaces.
This company has also created other apps aimed at different people groups, including BeautyCam, Wink, Action, and more.
Currently, Meitu holds approximately 940 BTC, or $21 million.
Crypto-related Companies That Hold Bitcoin
We just mentioned five of the biggest tech companies with Bitcoin on their balance sheets, but what about those that work with crypto? It makes sense for these companies to hold Bitcoin, like some of the ones we just mentioned, so let’s look at them:
- Marathon Digital Holdings: 10,054 BTC
- Coinbase Global Inc.: 9,000 BTC
- Hut 8 Mining Corp.: 7,078 BTC
- Hive Blockchain: 3,091 BTC
- Voyager Digital LTD: 1,239 BTC
- Aker ASA: 1,170 BTC
Why Are Companies Holding Bitcoin?
Cryptocurrencies are known for being volatile and risky, so why are more companies investing in them?
It’s hard to tell why a corporation would invest in these assets, but there are a few factors that may point us toward the answer:
- Crypto can help companies access new demographic groups.
- Awareness of the crypto industry can help position the company in the future.
- These assets provide more financial opportunities in the future.
- Cryptocurrency is sometimes seen as an excellent alternative to cash.
- There’s much more customer demand for cryptos.
With that being said, not all companies may have cryptocurrencies on their balance sheets. The information we’re showing here is the data that got released to the public, but we don’t know what’s behind the scenes. On the other hand, many individuals use platforms like Bit Index AI to grow their savings with innovative AI-powered trending strategies.
We suggest you take this information as a reference and not rely on it to make certain investment decisions.
The data points to a future where cryptocurrencies are more popular than ever. It’s no surprise that many companies and individuals are trying to get into this industry; we don’t know how hard that will be later.
If you’re eager to invest in Bitcoin or any other cryptocurrency, make sure to do proper research to avoid mistakes.