MicroStrategy's Bitcoin holdings surpass Nike and IBM cash
MicroStrategy now holds Bitcoin (CRYPTO:BTC) valued at $26 billion, surpassing the cash reserves of major corporations like Nike and IBM.
This development follows a significant surge in Bitcoin's price, which reached $90,000 last week, boosting the company's total Bitcoin value.
Executive Chairman Michael Saylor noted on Nov. 17 that this substantial holding puts MicroStrategy's Bitcoin reserves on par with ExxonMobil’s treasury and just behind Intel and General Motors, which hold $29 billion and $32 billion, respectively.
MicroStrategy’s decision to acquire Bitcoin dates back to 2020, marking it as the first publicly traded company to make such an investment.
This move paved the way for other major firms, including Tesla and MetaPlanet, to follow suit.
Currently, MicroStrategy holds 279,420 Bitcoins, a position built through multiple purchases over the past four years.
The company's stock has appreciated significantly, with shares climbing 2,100% from $15 to $340 since it first acquired Bitcoin.
The firm’s ambitious future plans include acquiring $42 billion worth of Bitcoin over the next three years through its "21/21 Plan."
This strategy outlines yearly investments of $10 billion in 2025, $14 billion in 2026, and $18 billion in 2027.
To fund these purchases, MicroStrategy intends to explore various financing options, including raising $21 billion from equity and $21 billion from fixed-income securities.
Should this plan materialise, the company would control about 3% of the total Bitcoin supply, estimated at around 580,000 Bitcoins.
In recent months, MicroStrategy has actively expanded its holdings.
In October 2024, it acquired 7,420 Bitcoins worth $458 million, followed by an additional purchase of over 27,200 Bitcoins valued at $2 billion in November.
Bitcoin, the leading cryptocurrency, continues to trade with strong volume, recording approximately $43 billion in 24-hour trading activity.
At the time of writing, the Bitcoin (BTC) price was $91,795.87.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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