MicroStrategy's $26 billion Bitcoin cache is larger than IBM, Nike cash holdings [Fortune]
Nike, Inc. (NKE)
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Source: Fortune
the upper echelon of the wealthiest corporations when it comes to financial assets. The Tysons Corner, Virginia-based firm's approximately $26 billion Bitcoin cache is larger than the cash and marketable securities of global market leaders such as International Business Machines Corp., Nike Inc. and Johnson & Johnson, according to data compiled by Bloomberg. Only about a dozen companies, led by Apple Inc. and Alphabet Inc., hold more assets in their corporate treasuries. Saylor, a co-founder and chairman, decided to invest in Bitcoin in 2020 as a hedge against inflation while MicroStrategy's revenue growth stagnated. The firm initially used cash from operations to make the purchases, and has shifted to using the proceeds from the issuance and sale of stock, as well as convertible debt sales to leverage its buying power. It has become the largest publicly traded corporate holder of the digital currency. While the strategy has drawn skepticism from traditional corporate governance
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