Why Public Companies Are Secretly Hoarding Bitcoin—and What It Means for Your Portfolio Right Now
Retail investors aren’t the only ones riding the Bitcoin wave. Publicly traded companies are getting in on the action, too.
In recent weeks, GameStop and Trump Media, which operates the social media platform Truth Social, have made significant Bitcoin plays. GameStop disclosed a purchase in May of around $500 million worth of Bitcoin. Around the same time, Trump Media revealed that it plans to raise $2.5 billion to build a corporate Bitcoin treasury.
In fact, the number of public companies with Bitcoin on their balance sheets now sits at 116. Their holdings in Bitcoin have more than doubled in a year, reaching a combined total of $85 billion. What’s fueling corporate interest in Bitcoin? Here are five reasons for the Bitcoin fervor among companies.
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