MicroStrategy’s Bitcoin Trove Flips Nike, IBM Cash Holdings

MicroStrategy’s Bitcoin holdings near $26 billion, eclipsing the cash and marketable securities holdings of Nike and IBM.

Michael Saylor has bitcoin fever, walking on stepping stones.
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  • MicroStrategy’s Bitcoin holdings have neared $26 billion. 
  • This puts the company ahead of global market leaders like IBM and Nike in terms of financial assets.
  • The company doesn’t plan to slow down its Bitcoin accumulation strategy. 

MicroStrategy’s aggressive Bitcoin accumulation plan, which started in 2020 when the company invested in the original cryptocurrency as a hedge against inflation, has seen it join the top ranks of the wealthiest corporations in terms of financial assets.  

According to BitcoinTreasuries data, the Tysons Corner, Virginia-based business intelligence firm, has amassed nearly $26 billion in Bitcoin to become the largest corporate holder of the world’s largest crypto asset. It is ahead of Marathon Digital and Riot Platforms, which hold a combined $3.4 billion in BTC. 

MicroStrategy’s Growing Financial Muscle

In a recent report, Bloomberg said MicroStrategy’s $26 billion Bitcoin stash was larger than the cash and the marketable securities holdings of global market leaders, such as Nike Inc., International Business Machines Corp., and Johnson & Johnson. 

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While Nike held $11.882 billion in cash and marketable securities as of March of this year, IBM recently reported that it had $13.7 billion in cash, restricted cash, and marketable securities. Johnson & Johnson’s latest Q3 report shows it had $20 billion in cash and marketable securities. 

According to the report, only a handful of corporations, including Apple Inc. and Alphabet Inc., hold more assets in their treasuries than MicroStrategy

Although MicroStrategy’s Bitcoin move has recently drawn skepticism from traditional finance observers, other investors have embraced it as a viable strategy for participating in the crypto asset’s rally without holding it directly on wallets or exchanges. 

MicroStrategy’s shares have risen by over 2,500% as the value of Bitcoin has gained by over 700% since 2020, making it the best-performing U.S. major stock. 

Other companies seeking to emulate MicroStrategy’s Bitcoin success include Metaplanet, the 19th largest corporate holder of the original cryptocurrency with 1,018.17 BTC. 

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga is a crypto reporter at DailyCoin covering breaking news. Brian has minor holdings in Bitcoin and Ethereum.

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