Among the listed companies that own bitcoin, electric car company Tesla is the most notable name. However, Tesla is not the institutional investor holding the most of this virtual currency...
The infographic below shows the listed companies that currently own the most bitcoins according to data from financial site CoinGecko.
Accordingly, as of February 22, 2024, the public company holding the most bitcoins is MicroStrategy with 174,530 bitcoins, estimated to be worth 9.1 billion USD. Based on the transaction price on March 21, this amount of bitcoin is worth about 11.6 billion USD. Last year, MicroStrategy stock price increased more than 350%.
Based in Virginia, the intelligence software company first bought bitcoin in 2020. To date, the amount of bitcoin in MicroStrategy's portfolio is nearly 10 times larger than that of Galaxy Digital, the second largest institutional investor in list.
Below is a list of listed companies holding the most Bitcoin as of February 22:
Tesla ranked fourth on the list with 10,500 bitcoins, worth about $546.7 million. In 2021, this company announced an investment of 1.5 billion USD to buy bitcoin. The same year, Tesla announced that it would allow customers to buy electric cars with this virtual currency. However, the following year, Tesla sold most of its bitcoin holdings and suffered heavy losses when the virtual currency market crashed.
Two Canadian companies, Hut 8 and Hive Blockchain, are also on the list. In 2023, the stock prices of these two bitcoin mining companies increased by more than 191% and 144%, respectively. The 10th company on the list, CleanSpark, recorded a stock price increase of more than 425% in 2023. Earlier this year, the company announced plans to buy four new facilities to mine bitcoin.
Earlier this year, the US licensing of spot bitcoin ETFs boosted bitcoin demand. This virtual currency then continuously rebounded, returning to the $1 trillion capitalization mark for the first time since 2021. With bitcoin recently recovering to the record price set in 2021, analysts predict This virtual currency is likely to increasingly attract the interest of institutional investors.
