Strategy’s $78 billion Bitcoin is closing in on Amazon’s cash positions as the second-largest corporate treasury.
Strategy’s $78 billion stash of Bitcoin is close to the cash positions held by Amazon, Google and Microsoft, the last of which rejected Bitcoin as a treasury asset last year.Strategy’s near-$80 billion Bitcoin treasury is catching up to the massive cash positions of tech giants such as Microsoft, whose shareholders rejected a proposal in December to explore adding Bitcoin to its books.
to X on Tuesday that its 640,031 Bitcoin stash briefly topped $80 billion in value on Monday as Bitcoina record high of $126,080, boosting the value of its corporate treasury close to Amazon, Google, and Microsoft, which each hold between $97 billion and $95 billion in cash or cash equivalents. Strategy’s routine Bitcoin buys, combined with Bitcoin’s rise in value, have already pushed its treasury past the value of Nvidia, Apple and Meta’s — the latter of which considered a proposal to explore making Bitcoin a treasury asset before overwhelmingly Berkshire Hathaway holds the largest cash pile of any company at around $344 billion, while Tesla is the only other firm that holds Bitcoin to make the list of the top 10 largest corporate treasuries — but its 11,509 BTC, worth about $1.4 billion, accounts for only a small portion of the automaker’s $37 billion holdings.Both Microsoft and Meta’s Bitcoin proposals were submitted by the conservative think tank National Center for Public Policy Research deputy director Ethan Peck, who said Bitcoin would better protect their profits from“Since cash is consistently being debased and bond yields are lower than the true inflation rate, 28% of Meta’s total assets are consistently diminishing shareholder value,” Peck said in his supporting statement to Meta.when Bitcoin was trading at $97,170, and Meta knocked back the same pitch when Bitcoin was $104,800, meaning both missed out on double-digit gains while the value of their cash positions continued to erode. Bitcoin’s volatility was a major concern that influenced Microsoft shareholders to vote against the proposal. Peck, who also serves as Bitcoin director at crypto-friendly wealth management firm Strive, recommended that Microsoft allocate 1% to 5% of its cash position to Bitcoin.Saylor pauses Bitcoin buys as Strategy posts $3.9B Q3 gain With Bitcoin currently trading just short of its all-time high on Monday, nearly all of the companies are up on their Bitcoin investments. Strategy bought its 640,031 Bitcoin at an average purchase price of $73,981, marking a 65%, or $30.4 billion, gain on its Bitcoin investment.
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