According to the report, Bitmine Chairman Tom Lee said that strategy bets on Bitcoin could one day push it to the top of the stock market. He pointed to the company’s large crypto holdings as a key driver of its value.
Lee noted that, like older oil companies, the market value of the strategy comes more from what is in the safe than from quarterly profits.
Bold claims about market value
Based on Lee’s comments, the strategy could outperform giants like Nvidia and Microsoft if Bitcoin reaches $1 million.
Exxonmobil has earned a spot across the generation in the top five of the S&P 500 thanks to its oil reserves. Currently, Lee is looking at strategies in the same role, only changing oil for Bitcoin.
He argues that the balance sheets of companies with digital coins are changing the way companies measure size.
https://www.youtube.com/watch?v=uf6wx4hr6iu
Strategic stocks trade for around $380. This brings the market capitalization to nearly $2.5 billion. In contrast, Nvidia costs around $4.3 trillion, and Microsoft costs $3.9 trillion.
To overtake Nvidia based on the current 628,791 BTC stash, Bitcoin will need to hit more than $6 million per coin. Even at $1 million, these coins total around $620 million.
Large Bitcoin Holdings
The report reveals that the strategy paid $46 billion to build a Bitcoin storage. Today, the stash is worth around $70 billion.
The company holds just $50 million in Fiat Cash. Lee pointed out that this will make the Strategic Treasury one of the top 10 of all US companies.
It precedes names like PayPal and Exxonmobil. That’s because it’s volatile and is valued encryption, not static cash.
BTCUSD trading at $115,069 on the 24-hour chart: TradingView
In its latest move, the strategy submitted a $4.2 billion STRC offering. The plan is to convert these revenues directly to Bitcoin. This will increase the coin count and further strengthen our identity as Bitcoin First Treasury.
Lee wants to pursue the big profits as evidence that more companies could move from cash and bonds to digital assets.
Competition between the Ministry of Finance
Bitmine itself, on the other hand, takes clues from strategy. It is all-in at Ethereum and currently has over 833,000 ETHs, making it the largest public owner of that token.
Lee believes other companies will follow the lawsuit. Some choose Bitcoin, with other companies choosing Ethereum or other blockchains.
It could redraw a company’s finances map, as digital coins sit at the heart of many balance sheets.
Will Steacy featured images, TradingView charts
Editing process Bitconists focus on delivering thorough research, accurate and unbiased content. We support strict sourcing standards, and each page receives a hard-working review by a team of top technology experts and veteran editors. This process ensures the integrity, relevance and value of your readers’ content.
