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A US software company now owns more cryptocurrency than any single country after taking its bitcoin holdings to more than $14 billion (£11bn).
In its latest financial results, MicroStrategy announced that it bought 25,250 bitcoins in the first four months of 2024, taking its total to 214,400 BTC – more than 1 per cent of all bitcoins in existence.
The firm’s bitcoin holdings make it the largest corporate holder of bitcoin in the world, with more than 10 times more than the second biggest bitcoin-holding public company: mining firm Marathon Digital Holdings.
MicroStrategy’s latest purchase means it also owns more bitcoin than the United States, which has 207,189 BTC valued at $13.5bn, according to data gathered by Bitcoin Treasuries.
“It is through our unique bitcoin strategy and solid track record as an operating company that we now hold 214,400 bitcoins at an average purchase price of $35,180 per bitcoin,” said MicroStrategy chief executive Phong Le.
Bitcoin is currently trading at around $64,000, meaning MicroStrategy is up more than $6 billion from its crypto investment.
MicroStrategy appears unlikely to cash in on its investment, with founder Michael Saylor frequently posting images of diamond hands to X (formerly Twitter), signalling an intention to not sell despite price fluctuations.
“When MicroStrategy adopted a Bitcoin Strategy, it anticipated volatility and structured its balance sheet so that it could continue to #HODL through adversity,” Mr Saylor wrote in 2022 during a major downturn in the crypto market.
On Monday, with the price of bitcoin once again approaching record highs, Mr Saylor wrote: “Bet on the winner #Bitcoin”.
The price has been buoyed by two major events in the crypto space in recent months.
The first was the US Securities and Exchange Commission (SEC) approving the first ever spot exchange-traded funds (ETFs) for bitcoin in January. This brought billions of dollars of institutional investment to the market for the first time.
The second was an event known as the ‘halving’, which takes place roughly every four years and sees the rewards for mining bitcoin cut in half. This decrease in supply, combined with the increase in demand, saw bitcoin hit a new all-time high in March above $73,000.
FAQs
10 Companies Holding the Most BTC
| # | Company | Entry Value (USD) |
|---|
| 1 | MicroStrategy Inc. | $8,330,000,000 |
| 2 | Marathon Digital Holdings | $189,087,000 |
| 3 | Galaxy Digital Holdings | – |
| 4 | Tesla, Inc. | $336,000,000 |
6 more rowsSep 5, 2024
Binance owns the largest cold storage wallet address, 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo, which holds 248,597 BTC.
What company bought a lot of Bitcoin? ›
MicroStrategy's stash of 244,800 bitcoins is worth $14.6 billion. Founded in 1989, MicroStategy has a business in enterprise software and cloud-based services, but its value is now almost entirely tied to its bitcoin ownership, effectively making the company a proxy for the world's biggest cryptocurrency.
Which country government owns the most Bitcoin? ›
As of the latest available information in 2024, the United States is considered to be the country that owns the most Bitcoin — according to various reports, it holds over 210K BTC. This accumulation is primarily due to legal seizures rather than direct purchases. US government owns over 210K BTC as of 2024.
Is there a company that runs Bitcoin? ›
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part.
Who owns 90% of Bitcoin? ›
As of March 2023, the top 1% of Bitcoin addresses hold over 90% of the total Bitcoin supply, according to Bitinfocharts.
Does BlackRock own the most Bitcoin? ›
BlackRock's $20 Billion ETF Is Now the World's Largest Bitcoin Fund.
Who secretly owns Bitcoin? ›
Bitcoin was created by an anonymous person or group using the pseudonym Satoshi Nakamoto. Nakamoto published a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System," outlining the concept of a decentralized digital currency. 1 The true identity of Satoshi Nakamoto remains unknown to this day.
Who is the owner of Bitcoin company now? ›
Since Bitcoin is an open-source, decentralised digital currency and blockchain technology, no one owns it.
What is the name of the biggest Bitcoin company? ›
Largest Bitcoin miners by market capitalization
| # | Name | M. Cap |
|---|
| 1 | Marathon Digital Holdings 1MARA | $4.70 B |
| 2 | Core Scientific 2CORZ | $2.91 B |
| 3 | Phoenix Group 3PHX.AE | $2.65 B |
| 4 | CleanSpark 4CLSK | $2.30 B |
21 more rowsFor the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is crypto's wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as he's known, is now worth an estimated $33 billion, up from $10.5 billion last year.
Who is the big investor in Bitcoin? ›
Some of the richest Bitcoin billionaires include Changing Zhao (CZ), Brian Armstrong, and Barry Dilbert - as well as potentially Satoshi Nakamoto (not that anyone can prove the wallet belongs to him!).
How much Bitcoin does the FBI have? ›
The total cache of seized bitcoin is reported to be approximately 175,000 bitcoin. ➤ Learn more about how the U.S. Government can seize bitcoin. Typically, The U.S. Department of Justice reports administrative, civil, and criminal forfeiture actions on a dedicated website.
Who is the founder of Bitcoin? ›
The inception of Bitcoin can be traced back to the aftermath of the 2008 financial crisis, a pivotal moment that exposed vulnerabilities in the global financial system. Satoshi Nakamoto introduced Bitcoin to the world in the wake of this crisis through a white paper published on October 31, 2008.
Who is the most Bitcoin holder in the world? ›
Who Owns the Most Bitcoins? Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.
What companies mine the most Bitcoin? ›
Largest Bitcoin miners by market capitalization
| # | Name | 1d |
|---|
| 1 | Marathon Digital Holdings 1MARA | 0.96% |
| 2 | Core Scientific 2CORZ | 1.03% |
| 3 | Phoenix Group 3PHX.AE | 1.23% |
| 4 | CleanSpark 4CLSK | 2.72% |
21 more rowsThe Blackrock's iShares Bitcoin Trust (IBIT) currently holds 357,277.1 BTC as of September 9, 2024.
How many Bitcoin does Tesla own? ›
Learn More About Other Entities Owning Bitcoin
| Entity | # of BTC | Value Today |
|---|
| Marathon Digital Holdings Inc | 25,945 | $ 1,497,244,178 |
| Vaneck Bitcoin Trust | 10,860.3 | $ 626,730,427 |
| Riot Platforms, Inc. | 10,019 | $ 578,180,359 |
| Tesla, Inc | 9,720 | $ 560,925,550 |
19 more rowsBitcoin was invented in 2009 by the mysterious Satoshi Nakamoto. It is decentralized, meaning it's not controlled by any person or entity.
