Who's the Corporate Bitcoin Champ? MicroStrategy Reigns Supreme

The world's largest corporate owners of Bitcoin are primarily located in North America, with MicroStrategy leading the pack with 174,530 bitcoins valued at $9.1 billion. Other notable holders include Tesla, Hut 8, Hive Blockchain, and CleanSpark, with their share prices surging due to their Bitcoin holdings.

Who's Holding the Bitcoin Crown?

Tesla may be the most recognizable name in the corporate bitcoin game, but it's far from the biggest fish in the pond. A handful of companies have quietly amassed far more of the digital gold, and their stock prices have skyrocketed as a result.

MicroStrategy: The Bitcoin Kingpin

MicroStrategy reigns supreme as the world's largest corporate bitcoin holder, with a staggering 174,530 coins worth an estimated $9.1 billion. The Virginia-based software firm first dipped its toes into the bitcoin waters in 2020, and its holdings have since grown to a size that dwarfs its competitors. In 2023, MicroStrategy's stock soared over 350%, thanks in no small part to its massive bitcoin exposure.

North America Dominates the Bitcoin Landscape

While MicroStrategy is based in the United States, the vast majority of the world's largest corporate bitcoin holders are found in North America. Notable exceptions include Nexon, a Japanese video game publisher, and Argo Blockchain, a London-based mining company.

Tesla: A Latecomer to the Bitcoin Party

Tesla, the electric car maker, ranks fourth on the list with bitcoin holdings worth $546.7 million. The company made a splash in 2021 by announcing a $1.5 billion bitcoin purchase, but it later sold off a significant portion of its holdings at a steep loss during the crypto crash.

Crypto Miners: Riding the Bitcoin Wave

Two Canadian companies, Hut 8 and Hive Blockchain, are among the top bitcoin holders. These cryptocurrency mining companies have seen their shares surge over 191% and 144%, respectively, as the value of bitcoin has climbed.

CleanSpark: The Mining Machine

Another mining company, CleanSpark, has seen even more impressive returns, with its shares booming over 425% in 2023. The company recently announced plans to purchase four new facilities for mining bitcoin, signaling its continued commitment to the digital asset.

BlackRock's Bitcoin Bet

As bitcoin continues to reach new heights, corporate interest in the cryptocurrency shows no signs of waning. Even investment giant BlackRock has gotten in on the action, with its BTC ETF (IBIT) now holding more bitcoin than MicroStrategy.

A Broader Market for Bitcoin

The rise of newly regulated spot bitcoin ETFs has fueled demand for the cryptocurrency, pushing its market cap above $1 trillion for the first time since 2021. As the bitcoin market matures and becomes more accessible to a wider range of investors, it's likely that corporate interest in the digital gold will continue to grow.