MicroStrategy’s Bitcoin shopping for plan—as soon as maligned by massive companies—has produced blockbuster earnings for the software program firm amid the newest Bitcoin increase, pushing its inventory value to all-time highs in latest months as its stash tops $40 billion price of the coin.
And its success has impressed a crop of copycats, although MicroStrategy founder and Government Chairman Michael Saylor most likely doesn’t thoughts—he’s been advocating for such a motion for years now.
In latest months, a number of extra publicly traded corporations have greenlighted company methods to stack Bitcoin as a treasury reserve asset, whereas others which have already invested within the cryptocurrency are increase their holdings of the asset.
Greater than 70 firms have dived headfirst into MicroStrategy’s crypto-first enterprise technique at a time when Bitcoin is flying excessive: President-elect Donald Trump vowed final summer season to create a nationwide stockpile of the digital foreign money, and the token hit an all-time excessive of $108,000 in December.
And though Bitcoin is hovering beneath the $95,000 mark as of writing time, there does not look like any signal of the development slowing down—a number of firms introduced their very own plans inside the final week.
Listed here are seven extra publicly traded firms which can be following in MicroStrategy’s footsteps and stacking Bitcoin.
Tesla
Tesla, the electrical car-making firm led by Dogecoin aficionado Elon Musk, has held Bitcoin for 4 years. And though it moved its tokens to new wallets final fall, there isn’t any indication that the automotive maker is promoting its Bitcoin.
Tesla has a protracted historical past with Bitcoin. The publicly traded firm first revealed that it had invested $1.5 billion on the planet’s oldest cryptocurrency in February 2021, with plans to simply accept the tokens as cost for its autos.
It backtracked on the latter plans after Musk shared concern concerning the environmental impression of Bitcoin mining, and bought among the cash—but it surely nonetheless has a considerable stash. The corporate holds round 10,000 Bitcoin, as of its newest quarterly submitting with federal regulators.
Block
Monetary companies conglomerate Block—the agency behind the Sq. funds platform—owns greater than 8,000 BTC price no less than $758 million as of writing time, in accordance with one estimate.
The Jack Dorsey-founded firm started shopping for Bitcoin just some months after MicroStrategy. Its first Bitcoin buy got here in October 2020, when it snatched up greater than 4,700 tokens.
Rumble
In November, video streaming platform Rumble turned one of many newest public firms to greenlight a Bitcoin treasury reserve technique. Below the Bitcoin shopping for plan, Rumble will make investments as much as $20 million within the digital asset, in accordance with an organization assertion.
Additionally it is aiming to reinvent itself as a go-to platform for the crypto group. To realize that purpose, the corporate has obtained a $775 million injection from stablecoin agency Tether.
LEEF Manufacturers
Hashish firm LEEF Manufacturers introduced in December it could undertake Bitcoin as a treasury reserve asset.
The Canadian enterprise plans to make the funding by means of a $5 million Bitcoin-backed debenture providing, in accordance with an organization assertion.
Semler Scientific
Medical know-how firm Semler Scientific started buying the biggest cryptocurrency by market capitalization final Might, when it debuted its Bitcoin reserve treasury technique.
Since then, the agency has made a number of massive buys of the token, with its exercise ramping up towards the latter half of final yr.
“We plan to proceed to buy bitcoin with money from operations and with money proceeds from our gross sales below our ATM program., Semler Scientific CEO Eric Semler stated in November. “We’re exploring further financing alternatives that can allow us to amass much more bitcoin.”
Semler Scientific held 2,084 Bitcoin as of December 15, in accordance to its web site. The cash are price almost $200 million as of publication time.
Semler Scientific has acquired 211 BTC for ~$21.5 million at ~$101,890 per #bitcoin and has generated BTC Yield of 67.0% QTD and 92.8% since adopting our BTC treasury technique in Might. As of 12/15/24, we held 2,084 $BTC acquired for ~$168.6 million at ~$80,916 per bitcoin. $SMLR
— Eric Semler (@SemlerEric) December 16, 2024
Banzai
Advertising and marketing know-how options agency Banzai introduced in November it could spend as much as 10% of the funds in its company treasury on Bitcoin. Including Bitcoin to Banzai’s stability sheet will diversify the belongings in its treasury, along with enabling the corporate to revenue off of the cryptocurrency’s long-term worth progress, Banzai CEO Joe Davy stated final yr in an announcement.
Edited by Andrew Hayward
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