During 2021, when the value of cryptocurrencies like Bitcoin was going up a lot, some big companies started investing more in Bitcoin and other similar digital money. Some very large and important groups, like Voyager, Celsius, and FTX, also became part of this trend. At that time, even a country, El Salvador, officially agreed to use Bitcoin as real money.
During this exciting time, the price of Bitcoin reached a record high of $69,044.77 on November 10, 2021.
But after only a year and a half from that record high, some of the really big companies in the cryptocurrency world had serious problems. This caused the price of Bitcoin to drop by 77.4% from that record high. The lowest point was on November 9, 2022, when Bitcoin was worth $15,602.
For this research, we will use the average price of Bitcoin in July 2023, which was about $30,090. We'll use this price to see how the top 10 big companies that have a lot of Bitcoin are doing compared to the price they got it for originally.
| Companies | Approximated Entry Price (USD) | Current Price (USD) |
|---|---|---|
| 1 - MicroStrategy Inc. | $4,127,000,000 | $4,583,712,092 |
| 2 - Marathon Digital Holdings | $189,087,000 | $390,087,792 |
| 3 - Galaxy Digital Holdings | $0 | $377,480,048 |
| 4 - Coinbase Global , Inc | $207,783,800 | $323,934,752 |
| 5 - Tesla, Inc | $336,000,000 | $315,945,836 |
| 6 - Hut 8 Mining Corp | $0 | $280,274,046 |
| 7 - Block , Inc | $220,000,000 | $241,533,069 |
| 8 - Riot Platforms , Inc | $0 | $218,905,329 |
| 9 - Hive Blockchain | $0 | $70,170,066 |
| 10 -NEXON Co Ltd | $99,974,042 | $51,664,667 |
Michael Saylor’s MicroStrategy, Inc. has the largest Bitcoin holdings of 152,333 BTC and an unrealized return on investment (ROI) of 11.07%, equivalent to $456,712,092 in profits today.
The three mining companies, Hut 8 Mining Corp., Riot Platforms, Inc. and Hive Blockchain see the largest unrealized profit per Bitcoin.
(NASDAQ:MARA) currently holds the greatest percentage of unrealized profit at 106.3%
Source : Coin Gecko
Credits : Coin Gecko
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