We may not know who Satoshi Nakamoto is, but the bitcoin banner has many strong warriors ready to defend it.
Elon Musk, Michael Saylor, Jack Dorsey are just some of the top minds who have expressed faith in crypto
These leaders are not just tweeting about bitcoin though, they are also influencing their organizations to adopt cryptocurrencies.
Here are the leading tech companies that are embracing crypto so far in 2021:
The firm that makes software for cloud computing holds 105,085 bitcoin (BTC). This is equivalent to $3.3 billion today.
Microstrategy became the first public company to purchase bitcoin when it purchased $425 million worth of bitcoin in August and September 2020. Microstrategy CEO Michael Saylor personally holds 17,732 BTC – placing him in the top 100 owners of BTC.
“If you’re looking for a non-fiat derivatives store of value in an inflationary environment, that’s logical that you would settle upon Bitcoin as digital gold.”
– CEO, MicroStrategy
Tesla’s annual report from 2020 revealed that the electronic vehicle manufacturer owned $1.50 billion worth of bitcoin. However, in April 2021, the car company sold 10% of its holdings, essentially to ‘prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.’
In May 2021, Musk announced that the company would no longer accept bitcoin as payment for purchasing vehicles, just two months after beginning to accept the cryptocurrency as a form of payment. Elon claimed that the company was concerned about bitcoin’s carbon footprint.
Tesla currently has 42,902 BTC, which is worth $1.37 billion.
Square Inc. is a financial technology company founded by Twitter Co-founder and CEO, Jack Dorsey.
In October 2020, the company purchased $50 million worth of bitcoin.
Since then, the payments company has continued to invest in Bitcoin, revealing that it had scooped up another 170 million worth in its Q4, 2020 earnings statement.
“Square believes that cryptocurrency is an instrument of economic empowerment, providing a way for individuals to participate in a global monetary system and secure their own financial future.”
In April 2021, Coinbase became the first cryptocurrency firm to go public.
The move was hailed as a landmark for the crypto industry. However, since then, Coinbase’s stock price (COIN) has declined significantly – by July 2021, COIN was a third lower than its listing price.
Ahead of its listing, the company announced it had $230 million worth of bitcoin on it balance sheet. By July 2021, the company”s holdings had dropped to $143 million (4,482 BTC).
The above are some of the top companies embracing cryptocurrency, but they are not the only ones.
Other organizations that hold sizable amounts of bitcoin include:
- Galaxy Digital Holdings – A crypto focused merchant bank that holds $522 million worth of BTC, according to bitcointreasuries.org
- Voyager Digital Ltd – A Canadian Crypto brokerage firm that holds $390 million worth of BTC
- Marathon Digital Holdings Inc – A Bitcoin mining company that holds $184 million worth o BTC
- Bitcoin Group SE – Germany-based venture capital firm Bitcoin Group SE holds 3,947 BTC, worth $126 million at today’s prices
- Hut 8 Mining Corp – Canadian crypto mining firm Hut 8 holds 3,522 BTC, worth $112 million
- Riot Blockchain – A US based crypto mining that holds $71 million worth of cryptocurrencies
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