A Growing Trend in 2024

• MicroStrategy leads the way with over 150,000 Bitcoins, setting the trend for corporate Bitcoin treasuries.
• Tesla, Block, Inc., and other giants have diversified their treasuries by investing billions in Bitcoin.
• Bitcoin is increasingly viewed as a hedge against inflation and economic uncertainty by major corporations.

Publicly-listed companies are increasingly adding Bitcoin to their treasuries, with giants like MicroStrategy and Tesla leading the charge as a hedge against economic uncertainty.

Over the years, cryptocurrencies like Bitcoin have grown into a major asset class, not just for individual investors but also for institutions, particularly public companies looking to diversify their treasuries. This growing trend of companies adopting Bitcoin as a reserve asset highlights the increasing confidence in the cryptocurrency’s long-term potential.

At present, more than a dozen publicly traded companies have allocated a portion of their treasury holdings to Bitcoin, collectively owning substantial amounts of the digital currency. These companies span various industries, ranging from technology and financial services to retail, showcasing Bitcoin’s broad appeal as a store of value.

Leading the way, MicroStrategy, a business intelligence firm, is a pioneer in this space. The company made headlines in August 2020 when it announced its first significant Bitcoin purchase, citing concerns over the devaluation of fiat currencies and a goal to protect shareholder value. Since then, MicroStrategy has steadily increased its Bitcoin holdings, making it the largest corporate holder of the cryptocurrency. As per Coingecko data, MicroStrategy owns over 150,000 bitcoins, worth billions of dollars at current prices.

Tesla, the electric vehicle giant, is another prominent early adopter who generated buzz in early 2021 when it disclosed a $1.5 billion investment in Bitcoin. Although the firm later sold a portion of its holdings due to environmental concerns, it still maintains a significant amount, demonstrating its belief in the cryptocurrency’s future.

Other companies, such as Block, Inc. (formerly Square) and Marathon Digital Holdings, have also made strategic moves into Bitcoin. Block, Inc., a financial services and digital payments company, has integrated Bitcoin into its ecosystem, allowing users to buy and sell the cryptocurrency through its Cash App.

The growing adoption of Bitcoin treasuries among public companies reflects a broader shift in how corporate entities view digital assets. As cryptocurrencies gain mainstream acceptance, more companies are likely to consider Bitcoin for their treasuries.