Bitcoin's Value Surges in 2024, Companies Amass Billions in BTC
Bitcoin's value skyrocketed in 2024, with the total crypto market cap nearly doubling. Several companies have amassed significant Bitcoin holdings, with Hut 8 Mining Corp. leading the pack with over 9,100 BTC, valued at approximately $1 billion.
Hut 8 Mining Corp. is not the only company with substantial Bitcoin reserves. Galaxy Digital Holdings Ltd. possesses over $1.3 billion worth of Bitcoin. Meanwhile, Strategy Inc. (formerly MicroStrategy Inc.) owns 423,650 BTC, valued at around $42.43 billion as of December 8, 2024. Block, Inc. (formerly Square) holds 8,363 BTC, worth approximately $876 million as of September 2024. Tesla, Inc. retains around 11,509 BTC after selling a portion of its holdings in 2022.
Between January and April 2025, MicroStrategy and Semler Scientific expanded their Bitcoin holdings. MicroStrategy now holds about 638,460 BTC, while Semler Scientific increased its reserves by 237 BTC, placing them among the top 20 largest Bitcoin holders in corporate treasuries. Other significant holders include Marathon Digital, Hive Digital Technologies, XXI, and Metaplanet. Marathon Digital Holdings, Inc. currently holds 46,255 BTC as of February 2025. Coinbase Global, Inc. holds 9,363 BTC in its treasury, worth around $980 million as of September 2024. The number of Bitcoin wallets holding at least $100 was approaching record levels in January 2025.
The surge in Bitcoin's price and the increasing number of wallets holding significant amounts indicate growing interest and confidence in the cryptocurrency. With major companies continuing to invest and hold large quantities of Bitcoin, the crypto market shows no signs of slowing down.
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