This milestone signals a growing acceptance of digital assets among traditional businesses. They are looking to diversify portfolios and hedge against inflation.
Let’s break down some of the heavy hitters from this lineup and how they’re tied to Bitcoin.
Bitcoin Miners and Crypto Firms Double Down on Bitcoin Investment
First up, in the Bitcoin Miners category. Companies like Marathon Digital Holdings, Riot Platforms, and Bitfarms are stealing the show. These firms are the backbone of the Bitcoin network. They use high-powered computers to solve complex math problems that validate transactions and earn them Bitcoin rewards. Marathon, for instance, has been a trailblazer. It amass thousands of Bitcoins through its mining operations and strategic purchases. They’re not just sitting on their hands. They’re doubling down on Bitcoin as a long-term investment.
BULLISH: A total of 80 public companies have now added Bitcoin to their holdings. pic.twitter.com/B290svjm06
In another sector, Coinbase and Galaxy Digital are big fish in a small pond. Coinbase, a leading crypto exchange, holds BTC as part of its corporate treasury. Galaxy Digital, a crypto-focused financial services firm, also keeps Bitcoin on its books. These companies aren’t just dipping their toes in the water—they’re diving in headfirst.
Tech Giants and Finance Leaders Embrace Bitcoin’s Potential
Technology giants are also joining the party. Tesla, led by Elon Musk, made headlines in 2021 when it bought $1.5 billion worth of Bitcoin. Reddit has also jumped on the bandwagon. It adds Bitcoin to its treasury as part of a broader push into blockchain technology.
In the Finance sector, BlackRock, the world’s largest asset manager, stands out. BlackRock has exposure through its investments in BTC-related products like ETFs. This reflects a growing institutional interest in the asset. Meanwhile, in the Media space, companies like Thumzup and Net Holding are exploring Bitcoin’s potential for transactions and advertising.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
