Strategy’s Bitcoin Near to Rivaling Tech Giants’ Treasuries

Strategy’s near $80 billion Bitcoin treasury is catching up to the massive cash positions of tech giants such as Microsoft, whose shareholders rejected a proposal in December to explore adding Bitcoin to its books.

Strategy posted to X on Tuesday that its 640,031 Bitcoin (BTC) stash briefly topped $80 billion in value on Monday as Bitcoin hit a record high of $126,080, boosting the value of its corporate treasury close to Amazon, Google, and Microsoft, which each hold between $97 billion and $95 billion in cash or cash equivalents. 

Strategy’s routine Bitcoin buys, combined with Bitcoin’s rise in value, have already pushed it past the value of Nvidia, Apple, and Meta’s treasuries — the latter of which considered a proposal to explore making Bitcoin a treasury asset before overwhelmingly voting against it in June.

Berkshire Hathaway holds the largest cash pile of any company at around $344 billion, while Tesla is the only other firm that holds Bitcoin to make the list of the top 10 largest corporate treasuries — but its 11,509 BTC, worth about $1.4 billion, accounts for only a small portion of the automaker’s $37 billion holdings.

Bitcoin is the “debasement trade,” say analysts

JPMorgan analysts said last week that Bitcoin and gold are a “debasement trade,” arguing the assets could serve as hedges against the US dollar inflation and America’s national debt as it continues to spiral out of control at nearly $38 trillion.

BlackRock CEO Larry Fink, once a Bitcoin critic, said in January that Bitcoin could hit $700,000 on currency debasement fears.

Both Microsoft and Meta’s Bitcoin proposals were submitted by the conservative think tank National Center for Public Policy Research (NCPPR) deputy director Ethan Peck, who said Bitcoin would better protect their profits from currency debasement.

“Since cash is consistently being debased and bond yields are lower than the true inflation rate, 28% of Meta’s total assets are consistently diminishing shareholder value,” Peck said in his supporting statement to Meta.