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Cryptocurrency News Articles
MicroStrategy's $26B #Bitcoin Cache Is Larger Than IBM, Nike Cash Holdings
Nov 19, 2024 at 06:00 am
Saylor, MicroStrategy's co-founder and chairman, started to invest in Bitcoin in 2020 as an inflation hedge.
MicroStrategy (NASDAQ:MSTR) is now sitting on a stash of Bitcoin that is larger than the cash holdings of Nike (NYSE:NKE) and International Business Machines (NYSE:IBM).
According to data compiled by Bloomberg, MicroStrategy’s BTC warchest is now valued at $26 billion, outpacing the cash holdings of the two blue-chip companies. Only a select few companies, including Apple (NASDAQ:AAPL) and Alphabet (NASDAQ:GOOGL), have more cash on hand.
This milestone marks a significant achievement for MicroStrategy, which has adopted an aggressive Bitcoin-focused strategy under the leadership of Michael Saylor.
At the same time, it also highlights the crypto industry’s rapid growth and mainstream adoption over the past few years.
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