MicroStrategy’s Michael Saylor is known for his unorthodox and bold investing style, which often attracts criticism. His Bitcoin focused strategy and buying the top digital asset at near-highs have their fair share of critics. But recent developments tell us that Bitcoin’s bullish sentiment has been right after all, well, at least for today.

According to Bloomberg, MicroStrategy’s current stash of $26 billion in BTC is now bigger than Nike and IBM’s cash holdings. Only a few top companies, led by Apple and Alphabet, hold more assets in their treasuries.

The $26 billion in Bitcoin is a significant milestone for MicroStrategy, which adopted an aggressive Bitcoin-focused strategy under Michael Saylor, and for the crypto industry in general.

MicroStrategy’s Bitcoin-First Policy

Saylor, MicroStrategy’s co-founder and chairman, started to invest in Bitcoin in 2020 as an inflation hedge. During this time, the company’s revenues and growth stagnated, and Saylor decided to invest in the leading digital asset.

MicroStrategy’s $26 Billion #Bitcoin Cache Is Larger Than IBM, Nike Cash Holdingshttps://t.co/E5Q3bgDUsA

— Michael Saylor⚡️ (@saylor) November 16, 2024

The company used cash from its operations to buy BTC, then shifted to using the proceeds from the sales of stocks and convertible debt sales to boost its buying power.

With most market experts lambasting Saylor for his unconventional and risky venture, the financial gamble tended to pay off, eventually catapulting MicroStrategy to the seat of the largest publicly listed entity with the most substantial holding of the crypto.

BTCUSD trading at $90,251 on the 24-hour chart: 
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Author: Christian Encila


				

					
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