Beyond MicroStrategy: 7 More Publicly Traded Companies That Are Stockpiling Bitcoin

MicroStrategy’s Bitcoin buying plan—once maligned by big businesses—has produced blockbuster profits for the software company amid the latest Bitcoin boom, pushing its stock price to all-time highs in recent months as its stash tops $40 billion worth of the coin.

And its success has inspired a crop of copycats, though MicroStrategy founder and Executive Chairman Michael Saylor probably doesn’t mind—he’s been advocating for such a movement for years now.

In recent months, several more publicly traded firms have greenlighted corporate strategies to stack Bitcoin as a treasury reserve asset, while others that have already invested in the cryptocurrency are building up their holdings of the asset. 

More than 70 companies have dived headfirst into MicroStrategy’s crypto-first business strategy at a time when Bitcoin is flying high: President-elect Donald Trump vowed last summer to create a national stockpile of the digital currency, and the token hit an all-time high of $108,000 in December.

And although Bitcoin is hovering below the $95,000 mark as of writing time, there doesn’t appear to be any sign of the trend slowing down—multiple companies announced their own plans within the last week.

Here are seven more publicly traded companies that are following in MicroStrategy’s footsteps and stacking Bitcoin. 

Tesla 

Tesla, the electric car-making company led by Dogecoin aficionado Elon Musk, has held Bitcoin for four years. And although it moved its tokens to new wallets last fall, there’s no indication that the car maker is selling its Bitcoin.

Tesla has a long history with Bitcoin. The publicly traded company first revealed that it had invested $1.5 billion in the world’s oldest cryptocurrency in February 2021, with plans to accept the tokens as payment for its vehicles.

It backtracked on the latter plans after Musk shared concern about the environmental impact of Bitcoin mining, and sold some of the coins—but it still has a substantial stash. The company holds around 10,000 Bitcoin, as of its latest quarterly filing with federal regulators. 

Block

Financial services conglomerate Block—the firm behind the Square payments platform—owns more than 8,000 BTC worth at least $758 million as of writing time, according to one estimate. 

The Jack Dorsey-founded company began buying Bitcoin just a few months after MicroStrategy. Its first Bitcoin purchase came in October 2020, when it snatched up more than 4,700 tokens.

Rumble

In November, video streaming platform Rumble became one of the latest public companies to greenlight a Bitcoin treasury reserve strategy. Under the Bitcoin buying plan, Rumble will invest up to $20 million in the digital asset, according to a company statement. 

It is also aiming to reinvent itself as a go-to platform for the crypto community. To achieve that goal, the company has received a $775 million injection from stablecoin firm Tether.

LEEF Brands

Cannabis company LEEF Brands announced in December it would adopt Bitcoin as a treasury reserve asset.

The Canadian business plans to make the investment through a $5 million Bitcoin-backed debenture offering, according to a company statement. 

Semler Scientific

Medical technology company Semler Scientific began purchasing the largest cryptocurrency by market capitalization last May, when it debuted its Bitcoin reserve treasury strategy. 

Since then, the firm has made several big buys of the token, with its activity ramping up toward the latter half of last year.

“We plan to continue to purchase bitcoin with cash from operations and with cash proceeds from our sales under our ATM program., Semler Scientific CEO Eric Semler said in November. “We are exploring additional financing opportunities that will enable us to acquire even more bitcoin.”

Semler Scientific held 2,084 Bitcoin as of December 15, according to its website. The coins are worth nearly $200 million as of publication time.

Banzai

Marketing technology solutions firm Banzai announced in November it would spend up to 10% of the funds in its corporate treasury on Bitcoin. Adding Bitcoin to Banzai’s balance sheet will diversify the assets in its treasury, in addition to enabling the company to profit off of the cryptocurrency’s long-term value growth, Banzai CEO Joe Davy said last year in a statement.

Edited by Andrew Hayward