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

MicroStrategy recorded $26 billion in Bitcoin after its price surged to $90.000 last week. The number are surpassing cash owned by big companies including Nike and IBM.

Bitcoin, the biggest cryptocurrency in the world, price increasing up to 11% to $90.000 last week. Making MicroStrategy’s Bitcoin, one of the biggest companies that hold Bitcoin, valued up to $26 billion.

MicroStrategy executive chairman Michael Saylor, on his X post-Nov. 17, claimed that their Bitcoin value exceeds Nike Inc. and International Business Machine (IBM) Corp cash holdings.

In comparison, MicroStrategy’s Bitcoin is equal to ExxonMobil’s treasury. Their Bitcoin reserve value is also just below Intel and General Motors’s treasury which is around $29 billion and $32 billion respectively.

The company acquired Bitcoin in 2020, marking the first company in the world to hold Bitcoin. Later on, this acquisition was followed by numerous companies such as MetaPlanet and Tesla.

Recently, they held 279,420 Bitcoin after acquiring multiple times in the past four years. MicroStrategy shares rose to 2.100% from $15 to $340 since they acquired Bitcoin for the first time.

MicroStrategy aims to acquire more Bitcoin

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

The company plan would explore several financial options to secure additional funding including $21 billion from equity and $21 billion from fixed-income securities. This funding will be exclusively allocated for acquiring more Bitcoin, rather than business expansion.

If the funding comes into reality, MicroStrategy is projected to own 3% of the Bitcoin supply, approximately 580.000 Bitcoins in the next three years.

In October 2024, MicroStrategy acquire 7.420 Bitcoin worth $458 million. In the following month, the company buys more than 27.200 Bitcoins worth $2 billion.

Bitcoin, the world’s largest cryptocurrency by market capitalization, has traded with a volume trading around $43 billion in the past 24 hours.