Bitcoin, the world’s first decentralized digital currency, has been gaining popularity among individuals and businesses alike, with several companies investing in it as an alternative asset class. Many companies have bought Bitcoin in recent years, including tech giants, financial institutions, and even car manufacturers. In this article, we will take a closer look at some of the companies that have invested in Bitcoin.
Tesla Inc.
The electric car manufacturer, Tesla, made headlines when it announced in February 2021 that it had purchased $1.5 billion worth of Bitcoin. The company stated that it made the purchase to “diversify and maximize returns on our cash.” Tesla’s investment in Bitcoin has also helped to boost the cryptocurrency’s popularity, as it is now widely accepted as a form of payment for Tesla’s products.
Square Inc.
Square, a mobile payments company founded by Twitter CEO Jack Dorsey, has been investing in Bitcoin since 2018. The company has purchased over $200 million worth of Bitcoin, representing about 5% of its total assets. Square’s investment in Bitcoin has helped to promote the adoption of the cryptocurrency, as it also allows users of its Cash App to buy and sell Bitcoin.
MicroStrategy Inc.
MicroStrategy, a business intelligence company, has been one of the most vocal supporters of Bitcoin among companies. The company has invested over $2 billion in Bitcoin, making it one of the largest corporate holders of the cryptocurrency. MicroStrategy’s CEO, Michael Saylor, has been a strong advocate for Bitcoin, stating that it is a better investment than gold.
PayPal Holdings Inc.
PayPal, one of the world’s largest online payment processors, announced in October 2020 that it would allow its users to buy, hold, and sell Bitcoin and other cryptocurrencies. The company later expanded its services to allow users to use cryptocurrencies to pay for goods and services at millions of merchants that accept PayPal. PayPal’s move into the cryptocurrency market has helped to increase the mainstream adoption of Bitcoin.
Square Enix Holdings Co. Ltd.
Square Enix, a Japanese video game developer and publisher, announced in November 2020 that it had purchased $1.8 million worth of Bitcoin. The company stated that it made the purchase as part of its strategy to diversify its assets and hedge against inflation. Square Enix’s investment in Bitcoin is one of the first among Japanese companies.
Conclusion
In conclusion, Bitcoin has become an increasingly popular investment option among companies, with many tech and financial firms investing in the cryptocurrency. The companies mentioned above are just a few of the many that have invested in Bitcoin, and as the cryptocurrency continues to gain mainstream acceptance, we can expect more companies to follow suit. While investing in Bitcoin can be risky due to its volatile nature, it can also offer high returns for those who are willing to take the risk.