Bitcoin has evolved into a powerful financial instrument, garnering attention not only from everyday individuals but also from major corporations. Over the years, many publicly traded companies have become enthusiastic supporters of Bitcoin, recognizing its potential as a transformative asset. These organizations are not just investors; they are active advocates for the cryptocurrency ecosystem, contributing directly or indirectly to the development and growth of the broader crypto landscape.
MicroStrategy (MSTR)
Photo: Joe Raedle (Getty Images)
The business intelligence firm MicroStrategy (MSTR) stands out as a leading advocate for Bitcoin, holding the largest number of Bitcoin among publicly traded companies.
Founded by former dot-com entrepreneur Michael Saylor, MicroStrategy has long advocated for Bitcoin, which is now part of its business model. In its third-quarter earnings report, MicroStrategy referred to itself as a “Bitcoin treasury company” and announced plans to raise $42 billion in capital over the next three years through a balanced mix of $21 billion in equity and $21 billion in fixed-income securities—an initiative the company calls its “21/21 Plan.”
Earlier this week, the company acquired approximately 55,500 Bitcoin for $5.4 billion. This acquisition raises the company’s total holdings to approximately 386,700 Bitcoin, representing 1.2% of the 21 million Bitcoin that will ever be mined. At current market prices, this stash is valued at around $37 billion.
MARA Holdings (MARA)
Illustration: sesame (Getty Images)
MARA Holdings Inc., previously known as Marathon Digital Holdings (MARA), is a leading cryptocurrency mining company specializing in the creation of Bitcoin. According to data from the crypto tracking platform CoinGecko, MARA holds the second-largest Bitcoin reserve among publicly traded companies, with a total of 26,842 Bitcoin. At current market prices, this amounts to an impressive $2.51 billion, underscoring MARA’s significant presence and influence in the cryptocurrency ecosystem.
Galaxy Digital Holdings (GLXY)
Illustration: Craig Hastings (Getty Images)
Galaxy Digital Holdings Ltd. (TSE: GLXY) is a diversified financial services and investment management company operating at the forefront of the digital asset, cryptocurrency, and blockchain technology sectors. The firm plays a pivotal role in advancing the adoption and integration of blockchain-driven solutions in traditional financial markets.
According to CoinGecko, Galaxy Digital holds 15,449 Bitcoin, a substantial reserve valued at approximately $1.44 billion based on current market prices.
Tesla (TSLA)
Image: NurPhoto (Getty Images)
It is well-known that Tesla (TSLA) CEO Elon Musk is one of the most vocal advocates for Bitcoin and cryptocurrencies in general. Under his leadership, Tesla has embraced Dogecoin as a payment option for select merchandise, including unique items like the Cyberquad for Kids, the Giga Texas Belt Buckle, and the Cyberwhistle.
Earlier this year, Musk hinted at the possibility of expanding Dogecoin’s utility at Tesla by potentially accepting it as a payment method for other transactions in the future. This move underscores his continued support for Dogecoin and its growing role in the cryptocurrency ecosystem.
Tesla currently holds 11,509 Bitcoin, valued at approximately $1.07 billion based on current market prices.
Coinbase (COIN)
Image: NurPhoto (Getty Images)
Coinbase (COIN) is the largest cryptocurrency exchange in the United States and one of the few crypto exchanges globally to be publicly traded on a stock exchange. As a trailblazer in the crypto industry, Coinbase has established itself as a leader, actively collaborating with governments and regulatory bodies to ensure compliance and foster the development of clear regulations for the evolving digital asset space.
According to CoinGecko data, Coinbase holds 9,183 Bitcoin, representing a reserve valued at approximately $857.1 million based on current market prices, further solidifying its position as a key stakeholder in the cryptocurrency ecosystem.
