MicroStrategy’s $26 billion in Bitcoin Exceeds Nike and IBM cash

MicroStrategy recorded $26 billion in Bitcoin after its price rose to $90,000 last week. This figure exceeds the cash held by major companies such as Nike and IBM.

The price of Bitcoin, the world’s largest cryptocurrency, rose as much as 11% last week to $90,000. The value of MicroStrategy’s Bitcoin, one of the largest companies holding Bitcoin, reached 26 billion dollars.

MicroStrategy chairman Michael Saylor in his post-November X speech. 17, Bitcoin values ​​Nike Inc. and claimed that International Business Machine (IBM) Corp had exceeded its cash assets.

By comparison, MicroStrategy’s Bitcoin is equal to ExxonMobil’s treasury. Bitcoin reserve values ​​are also just below the treasury of Intel and General Motors, which are $29 billion and $32 billion respectively.

The company purchased Bitcoin in 2020, becoming the first company in the world to hold Bitcoin. This acquisition was later followed by many companies such as MetaPlanet and Tesla.

They recently held 279,420 Bitcoins after purchasing them multiple times over the past four years. MicroStrategy shares have risen 2,100% since it first purchased Bitcoin, from $15 to $340.

MicroStrategy aims to buy more Bitcoin

MicroStrategy has a plan to purchase $42 billion worth of Bitcoin in the next 3 years. Under the 21/21 Plan, each year will be divided into $10 billion in 2025, $14 billion in 2026, and $18 billion in 2026.

The company’s plan will explore a variety of financial options to raise additional financing, including $21 billion from equity capital and $21 billion from fixed-income securities. This fund will only be allocated to purchasing more Bitcoin rather than expanding the business.

If the financing goes through, MicroStrategy is projected to own 3% of the Bitcoin supply within the next three years, or about 580,000 Bitcoins.

In October 2024, MicroStrategy purchased 7,420 Bitcoins worth $458 million. The next month, the company purchased more than 27,200 Bitcoins worth $2 billion.

Bitcoin, the world’s largest cryptocurrency by market value, was traded with a transaction volume of approximately $43 billion in the last 24 hours.