The Virginia-based business intelligence firm is, of course, the number one corporate holder of Bitcoin with nearly 389,000 coins.
Mining giant Marathon Digital and Mike Novogratz's Galaxy Digital are in second and third places with 34,794 and 15,449 coins, respectively.is also in the top 10, still occupying the sixth position despite selling off a significant portion of its holdings.
Corporate Bitcoin adoption is still in its early innings, with few companies hopping on that train despite MicroStrategy's success. Some critics have suggested that the company's sheer dominance in this sector might make buying Bitcoin a less attractive option for possible newcomers.Even a lot of crypto-native companies do not seem to be on board. For instance, there are a total of 12 publicly traded Bitcoin mining companies with zero coins on their balance sheet.
"The reason you want public companies to buy Bitcoin is that there is no real demand for Bitcoin among the general public. So you need companies to buy it merely to support the market and prop up the price of an otherwise worthless digital token," he said.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption.
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