#BtcNewHolder Traditional Firms Benefiting from Bitcoin’s Recent Rally

This year, Bitcoin investors were rewarded with big returns as the cryptocurrency soared to record highs following the reelection of Donald Trump.

The President-elect has repeatedly promised to make the U.S. the “crypto capital of the planet.” Trump’s attention towards the crypto industry has reignited confidence among traders and investors, leading to Bitcoin’s surging prices this year.

Michael Saylor’s MicroStrategy is another company that has benefited from the Bitcoin runup. MicroStrategy is currently the biggest corporate holder of the cryptocurrency, with holdings reaching 423,650 BTC, per a CNF report. Additionally, the company’s shares have surged 50% since the US election and currently trades at $341.05.

Notably, MicroStrategy is not the only firm that increased its Bitcoin stake over the past year and benefited from the recent surge. CNF reported earlier this month that MARA Holdings, a popular Bitcoin miner, bought 11,774 BTC at an average price of $96,000 per coin. The firm currently holds 44,394 BTC, valued at about $4.2 billion at the current market price.

Furthermore, Japanese investment firm Metaplanet recently acquired 620 BTC, marking its largest-ever purchase. Also, Canadian firm Matador Technologies disclosed a $4.5 million Bitcoin acquisition on December 23, while Quantum BioPharma recently announced a $1 million Bitcoin purchase amid other cryptocurrencies.