The post MicroStrategy’s Bitcoin holdings tops Nike and IBM cash reserves appeared on BitcoinEthereumNews.com.

Microstrategy holds $26 billion worth of Bitcoin, which exceeds the cash investments of major companies such as Johnson and Johnson, IBM, and Nike.  According to a Bloomberg report, Microstrategy has turned into one of the biggest businesses in terms of financial reserves. The reason for this was Michael Saylor’s decision to invest in Bitcoin rather than keeping cash in his previously little software company. The data shows that while some companies like Apple and Alphabet have more money in their reserves, Microstrategy’s bitcoin investments are more than the financial investments of top companies like Nike, IBM, and J&J. Data shows Microstrategy among the top companies in terms of financial reserves, Source: Bloomberg Saylor invested in Bitcoin back in 2020 as a hedge fund against inflation. At that time the company’s revenue growth was also slow. The firm started by buying Bitcoin from in-house earnings and later shifted to raising funds by selling stock and convertible debt to accelerate Bitcoin purchases. Now it stands as the largest publicly traded company to hold cryptocurrency. Microstrategy attracted investors for exposure to Bitcoin Some experts in corporate governance have been skeptical of crypto investment strategy. However, investors have supported this decision as it gives them exposure to Bitcoin’s price surge without dealing with crypto wallets or exchanges. Since mid 2020 Microstrategy’s stock has surged by 2500%. This increase was driven by 700% increase in the value of Bitcoin. The company also became the best-performing major US stock around that time. As of recently Bitcoin also reached $93,500 on Wednesday hitting an all-time high. Source: https://www.cryptopolitan.com/microstrategys-bitcoin-holdings-tops-nike-and-ibm-cash-reserves/

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Filed under: News - @ November 16, 2024 6:20 pm