MicroStrategy and Tesla's Bitcoin strategies are yielding contrasting results
As the digital asset market continues to grow, two US-based giants have taken very different approaches to Bitcoin, with very different results.
MicroStrategy, a company providing business intelligence, mobile software and cloud-based services, made its first Bitcoin purchase in August 2020 when the asset was trading at around 10,000. USD. Since then, the company has been steadily accumulating Bitcoin, now holding more than 1% of the total supply worth $14.58 billion.
In contrast, electric car manufacturer Tesla entered the market a little later, buying Bitcoin in January 2021, near the market's peak that year.
Based on data from Arkham Intelligence, Tesla currently owns 11,509 Bitcoins worth about $767.6 million, while SpaceX holds about 8,285 Bitcoins worth $554.3 million. Thus, the total number of Bitcoins held by Elon Musk's two companies is nearly 19,794, worth about 1.3 billion USD based on the current market price.
In 2021, Tesla bought $1.5 billion worth of Bitcoin, probably around 38,900 BTC, but sold a significant portion in 2022. If Musk had held on until now, then This could be worth about $2.6 billion.
The different trajectories of these two companies are reflected in their stock performance. MicroStrategy's MSTR has seen a spike of more than 1,200% since its initial Bitcoin investment, while Tesla's stock has stalled, down 31% year-to-date.
As a result, MicroStrategy rose to the top in terms of market capitalization, while Tesla fell to the 18th largest asset by market capitalization.
You should read it
- How to dig bitcoin without wasting electricity
- What is Bitcoin faucet? What is Bitcoin faucet?
- What do you need to know when buying Bitcoin or selling Bitcoin?
- Guide to digging Bitcoin for beginners
- Today's Bitcoin price, Bitcoin price update every minute
- The world only has 20% Bitcoin to 'dig'
- 10 facts about Bitcoin
- Crossing virtual walls, Bitcoin exploded in real life
- How to interpret bitcoin that your grandparents can understand
- What is Satoshi? 1 Satoshi is how many Bitcoin?
- Instructions to buy and sell Bitcoin on Remitano floor
- Bitcoin finds its heyday
Maybe you are interested
How to mining CHIA coin (XCH) on Windows operating systems Top 10 best and safe electronic wallets in Vietnam How to renew an ATM card when the ATM card expires Forgetting ATM card password, losing ATM PIN how to get it back? How to register Techcombank Smart OTP to get the authentication code What is AirPay? Which bank does AirPay link to?