MicroStrategy’s Bitcoin shopping for plan—as soon as maligned by massive companies—has produced blockbuster income for the software program firm amid the most recent Bitcoin increase, pushing its inventory worth 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 in all probability 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 build up their holdings of the asset.
Greater than 70 corporations 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 under the $95,000 mark as of writing time, there would not seem like any signal of the pattern slowing down—a number of corporations introduced their very own plans inside the final week.
Listed below are seven extra publicly traded corporations 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 automobile maker is promoting its Bitcoin.
Tesla has an extended historical past with Bitcoin. The publicly traded firm first revealed that it had invested $1.5 billion on the earth’s oldest cryptocurrency in February 2021, with plans to just accept the tokens as cost for its automobiles.
It backtracked on the latter plans after Musk shared concern concerning the environmental influence of Bitcoin mining, and bought a few of 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 providers conglomerate Block—the agency behind the Sq. funds platform—owns greater than 8,000 BTC price at the least $758 million as of writing time, in response to 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 grew to become one of many newest public corporations 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 response to an organization assertion.
Additionally it is aiming to reinvent itself as a go-to platform for the crypto neighborhood. To realize that aim, the corporate has acquired a $775 million injection from stablecoin agency Tether.
LEEF Manufacturers
Hashish firm LEEF Manufacturers introduced in December it might 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 response to 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 12 months.
“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 mentioned in November. “We’re exploring extra financing alternatives that may 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 might spend as much as 10% of the funds in its company treasury on Bitcoin. Including Bitcoin to Banzai’s steadiness sheet will diversify the property in its treasury, along with enabling the corporate to revenue off of the cryptocurrency’s long-term worth development, Banzai CEO Joe Davy mentioned final 12 months in an announcement.
Edited by Andrew Hayward
