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Here is a list of the top 35 companies that have publicly embraced Bitcoin self-custody. We included their holdings where that information was available:1. MicroStrategy Holdings: Over 130,000 BTC Details: Known for holding a significant amount of Bitcoin on its balance sheet as a reserve asset. 2.Tesla Holdings: Approximately 9,720 BTC Details: Initially bought $1.5 billion in Bitcoin and has since adjusted its holdings while maintaining a notable balance. 3. Block, Inc. (formerly Square)Holdings: Around 8,027 BTC Details: Embraced Bitcoin as part of its corporate treasury strategy. 4. Galaxy DigitalHoldings: Substantial, but varies Details: Manages its own Bitcoin holdings alongside other digital assets. 5. Hut 8 Mining CorpHoldings: Approximately 9,109 BTC Details: A major Bitcoin mining company that holds self-mined Bitcoin. 6. Riot Platforms, Inc. (formerly Riot Blockchain)Holdings: Around 9,084 BTC Details: Another major Bitcoin mining company with significant holdings. 7. CoinbaseHoldings: Significant BTC holdings as part of its corporate treasury and custodial services for clients. 8. Marathon Digital HoldingsHoldings: Approximately 12,232 BTC Details: A Bitcoin mining company focused on increasing its Bitcoin reserves. 9. BitfarmsHoldings: Approximately 5,243 BTC Details: A publicly traded Bitcoin mining company that holds Bitcoin as a strategic reserve. 10. Argo BlockchainHoldings: Approximately 2,700 BTC Details: A blockchain technology company that mines cryptocurrency and holds Bitcoin as part of its assets. 11. Voyager DigitalHoldings: Around 12,260 BTC Details: A cryptocurrency broker that holds a significant amount of Bitcoin. 12. Grayscale InvestmentsHoldings: Manages the Grayscale Bitcoin Trust (GBTC) which holds 654,600 BTC. 13. NYDIG (New York Digital Investment Group)Holdings: Substantial, but exact numbers vary Details: Provides Bitcoin investment and technology solutions. 14. Fidelity Digital AssetsHoldings: Substantial as part of its custodial services for institutional clients. 15. KrakenHoldings: Significant BTC holdings as part of its custodial services for clients. 16. Anchorage DigitalHoldings: Substantial BTC holdings as part of its institutional custody services. 17. GeminiHoldings: Significant BTC holdings as part of its custodial services for clients. 18. BitGoHoldings: Manages over 700,000 BTC across various custodial solutions. 19. FireblocksHoldings: Substantial BTC holdings as part of its custodial services for institutional clients. 20. LedgerHoldings: Substantial BTC holdings secured through its hardware wallet solutions. 21. BakktHoldings: Significant BTC holdings as part of its digital asset custody and trading platform. 22. NexoHoldings: Significant BTC holdings as part of its cryptocurrency lending and custodial services. 23. BlockstreamHoldings: Substantial BTC holdings as part of its self-custody solutions and mining operations. 24. CoinSharesHoldings: Manages significant BTC holdings through its investment products. 25. eToroHoldings: Significant BTC holdings as part of its investment platform. 26. RobinhoodHoldings: Significant BTC holdings as part of its trading platform. 27. RevolutHoldings: Significant BTC holdings as part of its financial services platform. 28. PayPalHoldings: Substantial BTC holdings as part of its cryptocurrency services. 29. Mercado BitcoinHoldings: Significant BTC holdings as part of its cryptocurrency exchange services. 30. BitstampHoldings: Significant BTC holdings as part of its exchange platform. 31. BinanceHoldings: Substantial BTC holdings as part of its exchange and custodial services. 32. Crypto.comHoldings: Significant BTC holdings as part of its exchange and custodial services. 33. Genesis Global TradingHoldings: Substantial BTC holdings as part of its institutional trading and custody services. 34. PaxosHoldings: Significant BTC holdings as part of its digital asset services. 35. DigitalXHoldings: Substantial BTC holdings as part of its blockchain technology and digital asset management services. These companies span various industries including technology, finance, and cryptocurrency mining, reflecting a broad adoption of Bitcoin self-custody. They utilize a combination of hot and cold storage solutions, multi-signature setups, and hardware wallets to ensure the security and control of their Bitcoin holdings.

35 Companies With Bitcoin on the Balance Sheet

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In a recent conversation I was asked what metrics should be considered when considering Bitcoin as a financial investment. The following list isn't comprehensive but provides some insight toward considerations for investment.Price: Current Price: The market value of one Bitcoin. Price History: Historical price movements and trends. Market Capitalization: The total value of all Bitcoins in circulation, calculated as the current price multiplied by the total supply. Volume: Trading Volume: The total amount of Bitcoin traded on exchanges within a specific period (24-hour, daily, weekly, etc.). Coinbase, Binance and Crypto.com are exchanges where traders can open accounts and track market volumes and performance. On-Chain Volume: The volume of transactions that occur directly on the Bitcoin blockchain. Supply Metrics: Total Supply: The total number of Bitcoins that have been mined to date. Circulating Supply: The number of Bitcoins currently in circulation and available for trading. Max Supply: The maximum number of Bitcoins that will ever exist (21 million). Volatility: The degree of variation in Bitcoin's price over a specific period, often measured by standard deviation or other statistical metrics. Its worth considering how Bitcoin volatilty stacks up against traditional financial markets. While consensus suggests its a hyper volatile asset consideration to market controls, manipulation and suppression of the US Stock market should be considered. Hash Rate: The total computational power being used to mine and process Bitcoin transactions. It reflects the security and health of the Bitcoin network. Mining Difficulty: A measure of how hard it is to mine a new block of Bitcoin. It adjusts approximately every two weeks to ensure blocks are mined at a consistent rate. Transaction Metrics: Number of Transactions: Total number of Bitcoin transactions over a given period. Transaction Fees: The fees paid for processing transactions on the Bitcoin network. Addresses: Active Addresses: The number of unique addresses that were active either as a sender or receiver over a certain period. Whale Addresses: Aggregations of various wallets with 1000 or more bitcoin and activity within periods generally less than 1 year can be utilized for forecasting of market direction toward the sell or buy side. New Addresses: The number of new Bitcoin addresses created within a specific period. Liquidity: The ease with which Bitcoin can be bought or sold without affecting its price. This can be assessed by looking at order book depth and bid-ask spreads on exchanges. Sentiment and Adoption Metrics: Market Sentiment: Overall market sentiment and investor mood, often measured through surveys, social media analysis, and sentiment indices.Fear &amp; Greed Index: several aggregates are published and calculate near realtime sentiment. Search Google with the phrase Fear and Greed Index Bitcoin for examples. Adoption Rates: The rate at which new users, merchants, and institutions are adopting Bitcoin. Regulatory Environment: Current regulations and any upcoming regulatory changes that could impact Bitcoin's use and trading. Macro-economic Factors: Broader economic factors such as inflation rates, interest rates, and geopolitical events that could influence Bitcoin's price. Technological Developments: Updates and improvements to the Bitcoin protocol, developments in the ecosystem, and advancements in related technologies like the Lightning Network. These metrics collectively provide a comprehensive overview of Bitcoin's financial health, market activity, and potential future performance.&nbsp;

Key Financial Metrics to consider for Bitcoin investments

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What if Bitcoin were around during the Great depression? How would it fare against Stocks or Real Estate over a 5 year time horizon. The following calculations forecast against these 3 in a hypothetical scenario where an investor in 1929 invests $10 in each asset class and where their investment stands five years later. (Adjusted for inflation, $10 from 1929 would be worth approximately $175.93 in fiat USD today (2024).) <table style="border-collapse: collapse; width: 100%;" border="1" data-mce-style="border-collapse: collapse; width: 100%;" data-mce-selected="1"><tbody><tr><td style="width: 20%;" data-mce-style="width: 20%;">Investment Type</td><td style="width: 20%;" data-mce-style="width: 20%;">Initial Investment&nbsp;</td><td style="width: 20%;" data-mce-style="width: 20%;">ARR%</td><td style="width: 20%;" data-mce-style="width: 20%;">Value after 5 years</td><td style="width: 20%;" data-mce-style="width: 20%;">Total Return %</td></tr><tr><td style="width: 20%;" data-mce-style="width: 20%;">Stocks</td><td style="width: 20%;" data-mce-style="width: 20%;">$10</td><td style="width: 20%;" data-mce-style="width: 20%;">-20%</td><td style="width: 20%;" data-mce-style="width: 20%;">$3</td><td style="width: 20%;" data-mce-style="width: 20%;">-67%</td></tr><tr><td style="width: 20%;" data-mce-style="width: 20%;">Real Estate</td><td style="width: 20%;" data-mce-style="width: 20%;">$10</td><td style="width: 20%;" data-mce-style="width: 20%;">-10%</td><td style="width: 20%;" data-mce-style="width: 20%;">$6</td><td style="width: 20%;" data-mce-style="width: 20%;">-41%</td></tr><tr><td style="width: 20%;" data-mce-style="width: 20%;">Bitcoin</td><td style="width: 20%;" data-mce-style="width: 20%;">$10</td><td style="width: 20%;" data-mce-style="width: 20%;">30%</td><td style="width: 20%;" data-mce-style="width: 20%;">$37</td><td style="width: 20%;" data-mce-style="width: 20%;">271%</td></tr></tbody></table>Stocks: ARR: -20% Initial Investment: $10 Value after 5 years: $3.28 Total Return: -67.23% Real Estate: ARR: -10% Initial Investment: $10 Value after 5 years: $5.90 Total Return: -40.95% Bitcoin (hypothetical): ARR: 30% Initial Investment: $10 Value after 5 years: $37.13 Total Return: 271.29% These calculations illustrate the severe impact of the 1929 stock market crash and the Great Depression on traditional investments, while a hypothetical Bitcoin investment demonstrates significant positive returns. Obviolusly theres a lot of variables unaccounted for (i.e. computers didn't exist en-masse at this time) but its a fun exercise to see how these hypothetical assets might fare during difficult economic times, like the great depression.

The Great Depression - A Bitcoin what if

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Michael Saylor calls Bitcoin the Digital Manhatten and says you can get ownership on the ground floor. Assuming he's right and historicals hold true how would Bitcoin stack up against Stocks and Real estate over the short term? The following grids provide a 3 year scenario for someone investing $100K USD.<table style="border-collapse: collapse; width: 100%;" border="1" data-mce-style="border-collapse: collapse; width: 100%;"><tbody><tr><td style="width: 20%;" data-mce-style="width: 20%;">Investment Type</td><td style="width: 20%;" data-mce-style="width: 20%;">Initial Investment</td><td style="width: 20%;" data-mce-style="width: 20%;">ARR (%)</td><td style="width: 20%;" data-mce-style="width: 20%;">Value After 3 Years</td><td style="width: 20%;" data-mce-style="width: 20%;">Total Return (%)</td></tr><tr><td style="width: 20%;" data-mce-style="width: 20%;">Stocks</td><td style="width: 20%;" data-mce-style="width: 20%;">$100K</td><td style="width: 20%;" data-mce-style="width: 20%;">8</td><td style="width: 20%;" data-mce-style="width: 20%;">$126K</td><td style="width: 20%;" data-mce-style="width: 20%;">26%</td></tr><tr><td style="width: 20%;" data-mce-style="width: 20%;">Real Estate</td><td style="width: 20%;" data-mce-style="width: 20%;">$100K</td><td style="width: 20%;" data-mce-style="width: 20%;">6</td><td style="width: 20%;" data-mce-style="width: 20%;">$119K</td><td style="width: 20%;" data-mce-style="width: 20%;">19%</td></tr><tr><td style="width: 20%;" data-mce-style="width: 20%;">Bitcoin</td><td style="width: 20%;" data-mce-style="width: 20%;">$100K</td><td style="width: 20%;" data-mce-style="width: 20%;">50</td><td style="width: 20%;" data-mce-style="width: 20%;">$338K</td><td style="width: 20%;" data-mce-style="width: 20%;">238%</td></tr></tbody></table>

Calculator - Bitcoin vs Real Estate Vs Stocks

Bitcoin in recession global market crisis stock red price drop arrow down chart fall, Money losing moving economic inflation deflation investment loss crash, 3d rendering

Kamala Harris has not explicitly stated a plan to make Bitcoin a reserve currency. However, there are some indications of her general stance on cryptocurrency and how it might influence her policies if she were to focus on this area. Here are some key points:Open to Crypto and Tech Innovations: Harris has shown openness to technological advancements, including cryptocurrency and artificial intelligence. This is supported by comments from Mark Cuban, who believes she will be more receptive to these innovations compared to the current administration​ (The Defiant)​​ (CryptoNews)​. Regulatory Background and Connections: Harris has deep ties to the tech industry from her time as California's Attorney General, where she built strong connections in Silicon Valley. Despite this, she has not taken a definitive public stance on cryptocurrency during her tenure as Vice President​ (The Defiant)​​ (FX Leaders)​. Potential Policies and Regulatory Approach: Harris might continue the Biden administration’s cautious regulatory approach, given her alignment with Biden. This includes enforcement actions by regulatory bodies like the SEC against cryptocurrency firms. However, there is speculation that she could pivot to a more crypto-friendly stance to differentiate herself from other candidates like Donald Trump​ (The Defiant)​​ (InsideBitcoins.com)​. Campaign and Industry Perception: Harris’s campaign has been in discussions about her participation in crypto-related events, signaling a possible interest in engaging with the cryptocurrency community. This is seen as a potential move to reset the Democratic Party’s positioning on digital assets and attract the growing voter base interested in cryptocurrency​ (The Defiant)​​ (InsideBitcoins.com)​. In summary, while Kamala Harris has not outlined a specific plan to make Bitcoin a reserve currency, her background and recent interactions suggest a potential openness to cryptocurrency and tech innovations. Her exact policies would likely depend on further developments and her campaign's strategic decisions regarding the crypto community.

Strategic Reserve Asset - Bitcoin (Harris Plan)

Robert F. Kennedy Jr. has proposed a comprehensive plan to make Bitcoin a strategic reserve asset for the United States if he is elected president. His plan centers on integrating Bitcoin into the financial system to enhance economic stability and ensure financial freedom. Here are the key components of his proposal:Bitcoin as a Strategic Reserve: Kennedy intends to direct the U.S. Treasury to purchase 550 Bitcoin daily until the U.S. amasses a reserve of 4 million Bitcoin. This would represent about 20% of the total supply and position the U.S. as a major holder of Bitcoin. He also plans to transfer approximately 200,000 Bitcoin currently held by the government to the Treasury, designating it as a strategic asset. Backing the Dollar with Bitcoin and Other Hard Assets: Kennedy's vision includes backing U.S. Treasury bills, notes, and bonds with tangible assets like Bitcoin, gold, silver, and platinum. He believes this would restore strength to the dollar, curb inflation, and bring about financial stability. Initially, he proposes starting with 1% of issued T-bills backed by these hard assets, with potential increases based on the plan’s success. Tax Exemptions for Bitcoin Transactions: To spur investment and innovation, Kennedy plans to make Bitcoin-to-dollar transactions exempt from capital gains taxes. This measure aims to attract businesses and investors to the U.S. and prevent them from relocating to other crypto-friendly countries. Financial Freedom and Anti-Corruption: Kennedy emphasizes the importance of financial freedom, likening transactional freedom to freedom of expression. He believes that Bitcoin can serve as a hedge against the corruption and economic instability caused by fiat currencies and centralized financial systems. Appointment of a Crypto Advisor: Kennedy also plans to appoint a national security advisor focused on cryptocurrency, recognizing the potential of Bitcoin and other digital assets to enhance U.S. economic and cybersecurity. 'Kennedy’s approach contrasts with traditional monetary policies and reflects his belief in Bitcoin’s potential to revolutionize the financial system and provide a more stable and transparent economic future​' (CryptoSlate)​​ (EconoTimes)​​ (Cointelegraph)​​ (BeInCrypto)​.

Insights

35 Companies With Bitcoin on the Balance Sheet

Key Financial Metrics to consider for Bitcoin investments

The Great Depression - A Bitcoin what if

Calculator - Bitcoin vs Real Estate Vs Stocks

Strategic Reserve Asset - Bitcoin (Harris Plan)

Strategic Reserve Asset - Bitcoin (RFKs Plan)