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If you're simply looking to maximize your exposure to Bitcoin through the equity market, here are some candidates to consider since they all hold a significant amount of bitcoin on their balance sheets. Another factor to consider is the value of the bitcoin held in relation to the total value of all the shares in the company (market cap). The higher that number is (% BTC), the more influence the price of Bitcoin will have on the price of that stock.
(As of March 10, 2021)
1. MicroStrategy
Amount of bitcoin held: 91,064 BTC
Market cap: $6,864,211,072
% BTC: 74%
Profile: A business intelligence, software, and cloud-based services provider for companies. The CEO, Michael Saylor is a huge proponent of Bitcoin and is very likely to continue purchasing more in the future. If you are considering a company that is focused on providing business intelligence and does not rely on the price action of Bitcoin, MicroStrategy is an ideal option.
2. Tesla, Inc.
Amount of bitcoin held: 48,000 BTC
Market cap: $757,554,688,042
% BTC: 0.3%
Profile: A car manufacturer that designs, develops, manufactures, leases, and sells electric vehicles. Tesla also has an energy generation and storage arm that focuses on the full development of solar and battery products. Tesla plans on accepting Bitcoin as payment for their products in the near future, as well as adding to their Bitcoin position as they see fit.
3. Galaxy Digital Holdings
Amount of bitcoin held: 16,402 BTC
Market cap: $1,576,193,000
% BTC: 58%
Profile: An asset management firm that specializes in digital assets. With four main business arms, Galaxy Digital Holdings has various revenue streams, including asset management, trading, principal investments, and advisory services. Galaxy Digital Holdings may be treated more as a mutual fund rather than a business. This is a strength within a more digitized economy.
4. Square inc.
Amount of bitcoin held: 8,027 BTC
Market cap: $102,329,198,649
% BTC: 0.4%
Profile: A financial services company that tailors to businesses and individuals. Their Cash App platform allows individuals to participate in various banking services while being able to purchase bitcoin directly. The data that they obtain through their payment platforms allows them to more accurately predict consumer habits and provide Bitcoin purchases within their Cash App subsidiary.
5. Marathon Patent Group
Amount of bitcoin held: 4,813 BTC
Market cap: $3,453,039,488
% BTC: 8%
Profile: Marathon operates as a cryptocurrency mining company and is located in Las Vegas. Generally, when Bitcoin’s price appreciates, so do a good number of altcoins as well. Marathon is able to focus on arbitrage within the cryptocurrency space by finding certain coins that are undervalued during various periods.
