MicroStrategy, led by founder Michael Saylor, has emerged as the leader among public companies holding Bitcoin, according to crypto analyst William Clemente’s comparisons.
Explained: Since August 2020, MicroStrategy has been actively accumulating Bitcoin as a long-term strategy, purchasing large amounts and even issuing extra bonds to fund the purchases. Currently, the company holds 152,800 Bitcoins, worth approximately $4.4 billion, which equates to 0.728% of the total Bitcoin supply.
In comparison, Elon Musk’s Tesla holds 10,725 BTC, worth $309.8 million. However, it is important to note that recent data suggests Tesla holds $184 million worth of Bitcoin, indicating a potentially outdated figure in the analysis. Musk initially integrated Bitcoin payments for Tesla in early 2021 but suspended the option due to environmental concerns related to Bitcoin mining.
Musk has stated that Tesla will resume accepting Bitcoin once mining is more reliant on renewable energy sources. In the meantime, Tesla and Musk have shown support for meme coin DOGE, which is mined using similar protocols as Bitcoin but is favored by Musk.