Bitcoin price at time of press; $13.,500
MicroStrategy made headlines in the past couple of months when they bought $425 million in Bitcoin with their company's cash reserves. The move solidified Bitcoin as a safe-haven asset, as the stamp of approval gave confidence to many other publicly traded companies to follow suit. Here is a list of some of the publicly traded companies that have Bitcoin as a treasury reserve asset.
Grayscale Investments holds a staggering 449,596 BTC (valued at roughly $6 billion at time of press!), roughly 2.14% of the total circulating supply of Bitcoin.
MicroStrategy grabbed headlines in the past couple of months with their $425 million dollar purchase of 38,250 BTC (valued at roughly $500 million at time of press). Making Bitcoin the companies main reserve asset. More recently, MicroStrategy CEO Michael Saylor tweeted he personally holds 17,732 BTC (valued at over $230 million at time of press) that he bought for $9,882 each.
Jack Dorsey's Square Inc. quickly followed MicroStrategy as they moved 1% of their total assets into Bitcoin. On October 8, 2020, Square spent $50 million to purchase 4,709 BTC. (valued at roughly $63 million at time of press)
Mike Novogratz's Galaxy Digital Holdings holds an impressive 16,651 BTC (worth roughly $220 million at time of press).
View our infographic above to see some other publicly traded companies that are hodl-ing on to Bitcoin. Let us know in the comments what your thoughts are on Bitcoin being a companies primary treasury reserve asset. Do you think it is a smart move?