Did you know 1% of Bitcoin total supply held by the publicly traded companies this may sound not like much but Big Companies Holding Bitcoin around the world. Company adding BTC in their balance sheet in the every other week and lot of speculation going around Bitcoin future. In this article I going to tell you a few big name holding BTC in their balance sheet Or there are companies that use Bitcoin to add to their balance sheet in the future. In this article we discuss how much BTC they hold when they sell their BTC and which company will be the next big name of Bitcoin Holder.
It is almost 1 years when first ever publicly traded company announced they going to buy Bitcoin(BTC) for their balance sheet. The company none other than microstrategy bought approx 21,000 BTC August,2020, since this time microstrategy accumulating Bitcoin till date they bought total 1,05,000 BTC worth almost 4.5 billion dollar($) in there balance sheet. Microstrategy is a tech company that develop software for data analysis and it was founded in 1989 by Michael saylor,Sanju Bansal & Thomas. Michael Saylor is the CEO of microstrategy since the company founded. He is the primary reason why microstrategy buy so much BTC. Michael is the Bitcoin bull by every word he personally hold approx 17000 BTC in his wallet. According to Michelle saylor main reason behind purchase Bitcoin to protect their fund from high inflation. inflation going to higher because of unlimited money printing by Central Bank around the world. Michael clear that in many occasion there no plan to sell any BTC.
Square is the second publicly traded company add Bitcoin in their balance sheet last year. Square purchased 4700 BTC in october,2020 since that time they accumulate additional 3300 BTC total 400 million dollar in their portfolio. Square is a tech company that’s provide point of sell softwares & hardware founded on 2009 by Jack Dorsey and Jim McKelvey. It has been traded as a public company on the New York Stock Exchange since November 2015 with the ticker symbol SQ. Jack is the CEO of square since the company established. The reason behind squares Bitcoin purchase is Aline with the company purpose to provide easy to acces Financial Service. Square’s second purchase of Bitcoin inspired by fruitfull amount of revenue generated by BTC holding. Square still not sell any BTC yet but they are not clear about their Bitcoin selling strategy.
Tesla is the the third publicly traded company to invest Bitcoin. According to SEC filing january this year Tesla shows there holding Bitcoin worth 1.5B $ in their balance sheet, though nobody knows exactly how many Bitcoin Tesla hold but this is estimated somewhere around 40,000 Bitcoin Hold by Tesla. Tesla is a electric car manufacturer company, Elon musk is the CEO of Tesla since 2009. Elon add Bitcoin in Tesla’s balance sheet for maximize their Fiat holding return. After buying Bitcoin, Elon Musk announced that Tesla cars can be purchased through Bitcoin. Naturally, the price of Bitcoin went up a lot after this announcement, but within a few days, Elon uturn his decision and stop BTC payment due to Carbon emission issue by Bitcoin mining. Tesla also sale 10% of their BTC holding at the pick price to check market liquidity. In a recent interview Elon Musk said he personally hold Bitcoin and he beleive Bitcoin is the great innovation of history.He also announce that Tesla resume BTC payment when >50% Bitcoin mining move to green enrgy.
Another publicly traded company add BTC to their balance sheet fairly recent addition of the list even they holding Bitcoin from 2012,this company is Coinbase. The coinbase share trading starting Nasdaq on mid april this year. Coinbase hold 4500 BTC on their Balance sheet in addition to 23000 ethereum totalling together around 300 million dollar. Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam, and as of March 2021 was the largest cryptocurrency exchange in the United States by trading volume. Coinbase provide Crypto exchange platform and Crypto custody service in United state,Europe and other countries. Coinbase hold Bitcoin and other cryptocurrency on their balance sheet because they belief the long-term potential of crypto economy. In a recent announcement coinbase plan to buy 500 million dollar of Bitcoin and 10% of their profit will be allocated to purchase cryptocurrency.
The balance sheets of publicly traded companies are usually known at the end of the quarter. There are four quarters in a year. Earnings report of a public limited company is published two to three weeks after the end of each quarter. According to various experts, Bitcoin, the balance sheet of some of the world’s largest companies, is likely to appear in the next quarter. Here is the list of companies probably add Bitcoin in their balance sheet.
Square’s CEO Jack dorsey is also the CEO of Twitter. Jack is the hard core believer of Bitcoin & damm bulish of long term potential of Bitcoin. In recent Twitter shareholder meeting Jack said ”we Must invest aggressively in Bitcoin”. Jack pushing Bitcoin lightning network to develop new payment method and he also want to integrate BTC in Twitter platform to tipped in for quality tweet. Although Twitter is the profitable and high growth company all around the business few share holder raise concern about Crypto volatility and they not want to kept their money at risk.
Addition to this list another publicly traded company PayPal want to add Bitcoin to their balance sheet. Paypal already expand their Crypto service outside of United State because good profit report in USA. Paypal Reportedly even looking to integrate defi and will soon be releasing quote ‘Super app wallet’ which will reportedly features deposit and withdrawal functionalities promises earlier in this year. PayPal follows the square strategy to add Bitcoin in their balance sheet.
The next publicly Trading Company could soon be adding Bitcoin in their balance sheet is Apple.some of you might remember a rumour floating around July this year that apple has bought a billion dollar of BTC. This rumour inspire by a job a notification of Apple last week of May, Business Development Manager at alternative payment method. The job criteria written there to specialise of cryptocurrency payment experience required. This followed same as PayPal’s announced they were providing Crypto services last year. Many believed that apple also support Bitcoin and cryptocurrency payment and add Bitcoin in their balance sheet. Apple pay vice president Jennifer Delhi also commented about Bitcoin last year. He said apple is watching core development of cryptocurrency and Crypto has long term potential. It’s not surprising to see Apple’s invest in Bitcoin anytime soon.
Amazon is taking cryptocurrency payments seriously as PayPal and Apple have become more enthusiastic about cryptocurrency payments. Amazon has recently started hiring to explore cryptocurrency payments in a notice. A recent study found that more than 60 percent of people are interested in daily purchases with cryptocurrencies. As the number of Bitcoin and cryptocurrency holders continues to grow, Amazon may accept cryptocurrency payments in the future for alternative payments. Not just as a payment, spread around a rumor that Amazon add bitcoin in their balance sheet to maximize profit.
Another one of the biggest company in the globe looking to add Bitcoin in their balance sheet & it’s Walmart. This is because a recent job posting likewise looking for someone extensive experience in cryptocurrency to be walmart’s digital currency and capital currency product lead In this notice specified that ideal candidate Could identify Crypto related investment and partnership. Walmart is the largest company in the planet in terms of revenue and it employees. Walmart’s cryptocurrency investment could be a historic day for crypto world.
People’s interest in Bitcoin and cryptocurrency is increasing day by day. In addition, the prices of Bitcoin and other cryptocurrencies are rising.Various large companies and institutional investors also showing their interest in Bitcoin As a result they are adding Bitcoin in their balance sheet. Another reason is the printing of new money at a substantial rate by various central banks. Institutional investors are looking Bitcoin as a hedge against inflation. Many people believe that Bitcoin is a digital gold and in future Bitcoin can replace the gold.