As Bitcoin’s price skyrockets in 2024, more public companies are jumping on the BTC bandwagon, treating it as their go-to reserve currency. By mid-November, a handful of firms made waves by announcing billion-dollar $BTC buys or plans to stack sats big-time. While this strategy has sent some stock prices to the moon, others haven’t seen the same magic.

MicroStrategy: The OG Bitcoin Whale

When it comes to $BTC , MicroStrategy (MSTR) is the undisputed champ. In November alone, the software giant dropped a mind-blowing $4.6 billion on 51,780 BTC, averaging $88,627 per coin. That buy pushed its total stash to a jaw-dropping 331,200 BTC, worth nearly $30 billion as of November 18.

This latest haul marks the biggest single Bitcoin purchase ever for MicroStrategy, which started its BTC-buying spree in 2020. And it’s paying off: MSTR stock is up a staggering 450% this year, hitting $347, smashing its previous high of $333 from January 2000.

Back in 2020, under Michael Saylor’s leadership, MicroStrategy was one of the first public companies to say, “Screw fiat, we’re going crypto.” Since then, it has spent $16.5 billion on BTC, averaging $49,874 per coin.

But here’s the kicker: They’re doing it with borrowed money. MicroStrategy’s playbook involves issuing long-term debt to load up on Bitcoin. And clearly, Wall Street doesn’t mind.

Metaplanet: Japan’s MicroStrategy

Metaplanet, dubbed the “Japanese MicroStrategy,” has been following the same BTC-maxi game plan. With a stash of 1,020 BTC worth about $95 million, the Tokyo-based investment firm is all-in.

In early November, they announced a plan to issue $11.3 million in debt to fund more Bitcoin buys. Since jumping on the Bitcoin train in April, Metaplanet’s stock has shot up sixfold. Who’s laughing now?

MARA: The Bitcoin Miner Stacking Big

Marathon Digital (now just MARA) is flexing its Bitcoin muscles. On November 18, the U.S.-based mining giant announced it would drop $700 million in bonds to buy more BTC, fund operations, and pay off earlier debts.

Earlier this year, they issued $300 million in debt and picked up over 4,000 BTC. As of October 31, MARA had 27,560 BTC on its books, worth about $2.5 billion at today’s prices.

But here’s the catch: MARA’s stock is still down 10% this year. Even with a killer stash, they’re not riding the same rocket as MicroStrategy.

Semler Scientific: Low-Key Stacker

In the shadows of giants like MicroStrategy and MARA, medical tech company Semler Scientific has quietly been stacking. On November 18, they announced a fresh buy of 215 BTC for $17.7 million. Their total stash? 1,270 BTC worth about $114 million.

Unlike MARA, Semler’s strategy seems to be paying off in 2024, with their stock doubling in value. Not bad for a quiet player in the game.

BTC: The New Corporate Reserve Standard?

Bitcoin’s rise as a reserve asset isn’t just hype anymore. Even mining companies like MARA are calling it “the world’s best reserve currency,” urging governments and corporations to follow suit.

At the Bitcoin 2024 conference, BlackRock’s digital assets head, Robert Mitchnick, noted that Bitcoin ETF holders are leaning hard into the “buy and hold” mindset.

The message is clear: Bitcoin isn’t just a speculative asset anymore. For these companies, it’s the future of corporate reserves.

So, what’s the play? While some companies are riding Bitcoin’s wave to massive gains, others are still figuring out how to turn sat stacking into stock-pumping. Either way, the message from corporate America and beyond is loud and clear: Bitcoin is here to stay.

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