Bitcoin became a buzzword ever since it caught the attention of the crypto world. Although, in the beginning, it did not gain much trust as it was looked down with suspicion due to scams and volatility. But later on, people started gaining knowledge of it and came to know all about its aspects. It has generated curiosity among crypto enthusiasts in searching for the biggest BTC corporate holder in the world.
Also known as the crypto king, Bitcoin still has the potential to dominate its competitors and not let them surpass it. In 2021, it reached its all-time high at $68,000 in November 2021 but came to its lowest at $34K in January 2022. There are at least twenty-six publicly traded firms that HODL Bitcoin. But there is one among them that owns maximum BTCs according to corporate balance sheets.
Who is the biggest BTC corporate holder in the business?
If you are being asked about which is the largest corporate holder of Bitcoin in the business, then what will be your answer? Your answer would possibly be Tesla. Yes, it is the American electric car manufacturing company that accepts payment in Bitcoin. The company is operated by its CEO Elon Musk, who is known to be behind the promotion of digital currencies so randomly through his tweets which are under investigation by the SEC (The U.S. Securities and Exchange Commission).
Coming back to the question, which is the biggest BTC corporate holder in the business, if your answer is Tesla, then sorry, it is not. Or if your answer is Jack Dorsey-led financial company, Square. Like Tesla CEO Elon Musk, Jack is also popular with his tweets on Bitcoin. If you are guessing upon Square as the correct answer, then once again, you are wrong.
Now you must be puzzled as none of these companies are the maximum holder of BTC, despite numerous tweets by their CEOs. Then which is that company?
Here is the correct answer
Still, failing to guess the correct answer, it is none other than MicroStrategy. It is a business intelligence software maker company in Virginia. This company is the biggest corporate crypto holder. Based on the database of a well-known crypto analytics company, MicroStrategy is a billionaire company that holds 121,044 BTC. This crypto company excels over its competitor firm Tesla in being 2.5 times bigger than it. The worth of BTC at MicroStrategy is around $4.4 billion. It is twenty-five percent more than the market capitalization of Tesla.
When did MicroStrategy bring its first portion of BTC?
Now since you have known that MicroStrategy is the biggest BTC corporate holder in the world leaving behind its competitors Tesla and Square, let us know some other facts about it. The business intelligence software company purchased its first proportion of BTC two years ago in August, specifying worries about the United States dollar losing its value, thanks to the pandemic, financial measures from governments worldwide, and uncertainty in the political scenario around the globe.
Michael Saylor, the chief executive officer of MicroStrategy, made a statement on the dominant cryptocurrency. He said that with the investment we are assured that Bitcoin is the most accepted digital currency in the world. Also, Bitcoin is the store of value that one can depend on. Moreover, it is an appealing crypto investment asset with much potential in the long run in comparison to holding cash.
The biggest BTC corporate holder, MicroStrategy, has spent a maximum of $3.5 billion on Bitcoin. So far, investment in this dominant cryptocurrency has paid off. The current steep fall in the price of Bitcoin has no downward effect, as the company’s BTC reserve is worth more than $800 million. The amount is more than what has been paid on 27th January. The company has considered Bitcoin as a prime priority for its continuous purchase during the selloff that has witnessed cryptocurrency losing its value at around 46%.
Some key facts about MicroStrategy
Let us know some key facts about MicroStrategy below:
- MicroStrategy is a well-known company in America.
- The company deals in services including mobile software, business intelligence, and other cloud-based services ranging from storage, full applications, virtual desktops, development platforms, and servers.
- The foundation of MicroStrategy was laid down by Michael J. Saylor, Thomas Spahr, and Sanju Bansal in 1989.
- The company is known for the development of software for analyzing data, both external and internal for executing business decisions, plus mobile app developments.
- The headquarters of this public company is located in Virginia in the metropolitan area of Washington.
MicroStrategy is the biggest BTC corporate company exceeding its biggest companies Tesla and Square. Log on to Cryptoknowmics to find out the top 10 Bitcoin holders in India. There are other several topics like top Bitcoin millionaires, what is forking, the difference between a soft fork and a hard fork, crypto whales, Ethereum mining, best Bitcoin faucets, and so on. The website is the best crypto source to look for authentic price tracking of digital currencies including Bitcoin and altcoins – Solana, Avalanche, Ethereum, Litecoin, Monero, Binance Coin, Bitcoin Cash, and other lesser-known crypto coins.
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