Who owns the most bitcoins among big companies? While Tesla is a well-known name in the list of the world’s big corporate buyers, several companies have gathered more bitcoin, causing their shares to rise sharply in value during the past year. Most of these companies are based in North America, except for Nexon, a Japanese gaming firm.

MicroStrategy Leads the Pack as the biggest corporate holder of bitcoin, MicroStrategy boasts 174,530 bitcoin valued at around $9.1 billion as of February 22, 2024. This company, headquartered in Virginia, began its bitcoin acquisitions in 2020, and steadily increased its holdings to outsize levels, dwarfing its nearest competitor by nearly tenfold. MicroStrategy’s success in amassing bitcoin led to a remarkable 350% surge in its share prices in 2023.

Meanwhile, Tesla sits as the fourth-largest holder on the roaster, with bitcoin holdings valued at $546.7 million. The company made headlines in 2021 by purchasing $1.5 billion in bitcoin to drive profits, and to offer an option for customers to buy its products using cryptocurrency. However, Tesla later divested a substantial portion of its bitcoin holdings at a considerable loss during the crypto market downturn.

North of the border, two Canadian companies, Hut 8 and Hive Blockchain, stand out as heavyweight bitcoin holders. These firms, primarily involved in cryptocurrency mining, saw their shares spike by 191% and 144% respectively. Yet, CleanSpark, a bitcoin mining company, witnessed an even more impressive rise in its shares, shooting up by a whopping 425% in 2023. The company’s 2024 expansion plans include acquiring four new mining facilities, three of which are situated in Mississippi, purchased at a combined cost of $19.8 million.

As the value of bitcoin continues to hit fresh peaks, the enthusiasm of corporations for bitcoin could rise alongside a wider variety of buyers entering the market. The recent introduction of regulated spot bitcoin ETFs has also spurred interest among investors, further boosting the momentum behind bitcoin’s market movement.