{"id":10155,"date":"2022-07-16T07:03:00","date_gmt":"2022-07-16T04:03:00","guid":{"rendered":"https:\/\/alfacash.blog\/?p=10155"},"modified":"2024-02-19T21:50:37","modified_gmt":"2024-02-19T18:50:37","slug":"companies-more-bitcoin-bear-market","status":"publish","type":"post","link":"https:\/\/alfacash.blog\/pl\/2022\/07\/16\/companies-more-bitcoin-bear-market\/","title":{"rendered":"+5 Companies with more Bitcoin in the bear market"},"content":{"rendered":"

It may be difficult to keep your Bitcoin holdings in the bear market. So far, the currency decreased by over 74% from its last All-Time High (ATH). It briefly lost its floor at $20,000 as well, and some analysts are still waiting for $15,000 per coin. No good news, but there still are strong hands. We have numerous companies stacking Bitcoin to the future from now.<\/strong><\/p>\n\n\n\n

Of course, among the richest Bitcoin addresses, we mainly count crypto exchanges. But we\u2019ll talk here about companies that don\u2019t need to have Bitcoin<\/a> on their reserves, and yet, they have it. Indeed, they have a lot of coins. Just because they want to, and they\u2019re patiently waiting for bullish times.<\/p>\n\n\n\n

\"Bitcoin-companies-beach-time\"<\/figure><\/div>\n\n\n\n

Let\u2019s discover how much BTCs are stashed by them, according to Bitcoin Treasuries<\/a>.<\/p>\n\n\n\n

Aker Solutions<\/strong><\/h2>\n\n\n\n

In March 2021, the Norwegian energetic giant Aker Solutions\u00a0og\u0142osi\u0142<\/a>\u00a0the creation of Seetee, a new crypto-focused subsidiary. They invested around 10% of their capital in this project, and they bought around 1,170 BTC as a long-term investment<\/strong>. At the time, the price was around $50,000 per coin, so, they put at least $58.5 million.<\/p>\n\n\n\n

Despite the obvious decrease, Seetee still wierzy<\/a> that \u201cBear markets are for builders\u201d and \u201cbitcoin has been in a bull market since block zero\u201d. On their webpage, they mentioned the 1,170 BTC as their \u201cfirst purchase\u201d, which may imply that they\u2019re planning to buy more in the future (or already did it).<\/p>\n\n\n\n

\"Bitcoin-monety-gar\u015b\u0107-portfel\"<\/figure><\/div>\n\n\n\n

They resist since their strategy \u201cis to hodl<\/a>\u201d. In the meantime, they\u2019re also investing in other crypto projects and Bitcoin companies. They seem especially interested in the ones related to sustainable Proof-of-Work<\/a> (PoW) mining. As a part of an energy company, it wouldn\u2019t be a surprise if they also decide to mine Bitcoin or propose new systems to do it.<\/p>\n\n\n\n

Nexon<\/strong><\/h2>\n\n\n\n

Nexon Co. Ltd. is an Asian video games giant, with over 80 popular titles and virtual worlds. It was born in South Korea in 1994 and moved to Japan<\/a> in 2005. Among their works, we can count Dark Ages, MapleStory, and Blue Archive. They don\u2019t accept Bitcoin as a payment method but decided to buy it as a corporate asset in April 2021.<\/p>\n\n\n\n

\"Bitcoin-Companies-MapleStory-Nexon\"
Preview of MapleStory. The game will have their own NFTs. Source: Nexon<\/figcaption><\/figure><\/div>\n\n\n\n

They acquired 1,717 BTC for approximately $100 million<\/strong>, at around $58,200 per coin<\/strong>. The non-realized losses have been sharp, but they\u2019re still holding. Owen Mahoney, CEO of Nexon, explained in og\u0142oszenie<\/a>:<\/p>\n\n\n\n

\u201cOur purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets (…) In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.\u201d<\/p><\/blockquote>\n\n\n\n

We now have short-term volatility, but they\u2019re not fazed by it. Indeed, Nexon przygotowuje<\/a> a new series of MapleStory to include Non-Fungible Tokens (NFT<\/a>). The users will be able to buy and sell in-game objects and avatars by using blockchain technology.<\/p>\n\n\n\n

Block Inc. (Square)<\/strong><\/h2>\n\n\n\n

This one is more aligned with Bitcoin companies. Block Inc. since December 2021 (previously Square Inc.) is an American digital payments firm. Among their products and apps are the homonymous Square, Cash App, Afterpay, and even the music streaming service Tidal. The company was founded in 2009 by Jack Dorsey, the same Twitter founder.<\/strong><\/p>\n\n\n\n

\"Bitcoin-companies-Jack-Dorsey\"
Jack Dorsey in 2012. Source: Kevin Krejci<\/a> \/ Flickr<\/figcaption><\/figure><\/div>\n\n\n\n

Dorsey is, by the way, a known Bitcoin maximalist. He was the Twitter CEO until November 2021 but now is dedicated completely to the payments industry<\/a>. Block Inc. is even developing a \u201cWeb5<\/a>\u201d with Bitcoin as the foundation for identity management. Accordingly, the company has its own stash of Bitcoin.<\/p>\n\n\n\n

They first bought $50 million in October 2020, and later<\/a> $170 million in February 2021. So, they still own 8,027 BTC<\/strong>. Amrita Ahuja, Block Chief Financial Officer, przyzna\u0142<\/a> that they suffered some losses from it due to the price drop. Therefore, they\u2019re not planning to buy more for now, but they\u2019re not selling it either.<\/p>\n\n\n\n

Tesla Inc.<\/strong><\/h2>\n\n\n\n

Another one that\u2019s not inside the Bitcoin companies. Famous enough, Tesla is an American electric vehicle and clean energy brand (formerly Tesla Motors). Its founder and current CEO, Elon Musk<\/a>, is also renowned for his other ventures: the spacecraft manufacturer SpaceX, the neurotechnology developer Neuralink, and the AI research laboratory OpenAI. Musk is very known on Twitter for his opinions about the cryptocurrency world as well.<\/p>\n\n\n\n

After a while of messing around with the topic on social media, it was revealed<\/a> that Tesla Inc. finally bought $1.5 billion in Bitcoin in January 2021 \u2014at $34,000 per coin. They still own around 43,200 BTC, despite the price drop<\/strong>. In addition, Musk has declared that he still owns and won\u2019t sell his crypto holdings.<\/p>\n\n\n\n

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As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.

I still own & won\u2019t sell my Bitcoin, Ethereum or Doge fwiw.<\/p>- Elon Musk (@elonmusk) March 14, 2022<\/a><\/blockquote>