Crypto is in shambles.
With the total market cap down below the $1 trillion mark and top digital assets shedding over 70 percent from their 2021 peaks, bears are undoubtedly in charge.
However, that’s not to say firms reliant on crypto and its underlying technology, the blockchain, are down and out. If anything, the sphere holds so much promise, explaining why top technology companies are digging in.
In the past few years, these are the top five corporations making waves in crypto:
MicroStrategy: The NASDAQ-listed public company is a business intelligence firm whose CEO, Michael Saylor, is a big believer in Bitcoin. The business intelligence firm is the largest holder with 129,699 BTC worth over $2.47 billion at the coin’s spot rates. For context, even in the H1 2022 bear run, MicroStrategy doubled down on BTC, purchasing the asset despite the general uncertainty.
Meta: Facebook rebranded to Meta in September 2021 to highlight its plans to actualize the promises of the metaverse. While Meta’s involvement or commentary in crypto and digital assets isn’t new, their recent experimentation with Polygon or Ethereum-based NFT profile pictures strongly indicates their commitment to the sphere.Amid the current winter, companies are still bullish on the underlying technology and cryptocurrencies. These are the top five corporations making waves in crypto. Learn more here: Click To Tweet
Tesla: The electric car manufacturer holds 42,902 BTC that they bought for $1.5 billion. Even amid the crypto winter and the stock market capitulation, Tesla still holds BTC. Tesla’s chairman, Elon Musk, also supports various projects, notably DOGE, the memecoin.
PayPal: One of the world’s largest financial technology companies, processing billions every year, supports the trading of several coins, including BTC and ETH. Their support of cryptocurrencies raised their assets, further spreading the adoption of crypto and the underlying technology.
Block (formerly Square Inc.): The San Francisco-based digital payments company owns 8,027 BTC. Their rebranding in December signaled their push beyond facilitating sales and payments to include blockchain. With Jack Dorsey in the picture, Square Inc. was rebranded to Spiral to help advance Bitcoin.
To learn more about crypto, Bitcoin, and blockchain, subscribe to our podcast!
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies.