In August 2020, MicroStrategy became the first major publicly traded company to start investing in bitcoin (BTC) to protect cash reserves against inflation. Then big names like Tesla and Block (formerly Square) followed in their footsteps. Meanwhile, there are many large listed companies and bitcoin miners who choose to keep bitcoin on their balance sheets to protect themselves against inflation. We have listed the wallets of the five largest bitcoin companies for you.
Number 1: MicroStrategy
The absolute ruler in the field of business and bitcoin is still Michael Saylor’s MicroStrategy, which currently owns 129,219 bitcoin. At the time of writing, MicroStrategy’s war stock is worth about $5.1 billion and with that, Michael Saylor’s company owns about 0.615 percent of all bitcoin.
Number 2: Tesla
After MicroStrategy we arrive at the number two Tesla. In February 2021, Tesla announced that it had bought more than 40,000 bitcoins from Elon Musk for about $1.5 billion. After a small sale in March 2021, Tesla still has 42,902 bitcoin on its balance sheet, which is currently worth $1.697 billion. The relationship between Tesla and bitcoin is volatile. Shortly after the purchase, it announced that it would no longer accept bitcoin as a means of payment for the time being due to climatic concerns about the mining process.
Number 3: Galaxy Digital Holdings
In third place we find Mike Novogratz’s Galaxy Digital Holdings. This listed asset manager has a total of 16,400 bitcoins, which are worth $648 million. This means it owns 0.078 percent of the supply of bitcoin. A lot less than MicroStrategy and Tesla, but still a respectable number.
Number 4: Marathon Digital Holdings
With the number four on the list, we end up with the first listed bitcoin miner. It concerns Marathon Digital Holdings that currently keep every bitcoin they mine in the cash register. In total, Marathon has already managed to scrape together 9,373 bitcoin and is steadily continuing to collect bitcoin. Currently, Marathon’s bitcoin stash is valued at approximately $370 million.
Number 5: Block
The number five and last company we discuss is Jack Dorsey’s Block. Block we can qualify as a true bitcoin company. Not only does it have 6,460 bitcoins in cash that are worth about $255 million. Block is also building a decentralized exchange, its own bitcoin hardware wallet, mining hardware and many more bitcoin-related products.
