Which companies do you believe will buy bitcoin? 🔎
Apple or Amazon ?
Tesla shook up the cryptocurrency world earlier this week, revealing in a filing that it had bought $1.5 billion of bitcoin. That sent the digital asset to a record of more than $48,000, and spurred questions about which companies could follow suit.
The total cash held on for non-financial, transportation or utility companies’ balance sheets in the S&P was a record $1.9 trillion at the end of Q3. Leaving some wondering if these big company could utilize their cash in a better place.
A handful of corporations, particularly those that are led by forward thinking and open minded chief executives come to mind for the next company to add Bitcoin to its balance sheet. Big tech certainly has big balance sheets. Apple has the highest reserve of any non-financial S&P 500 company, with $195.6 billion in cash and marketable securities, followed by Alphabet with cash on hand of $136.7 billion.
Although the majority of their revenue comes from retail sales. Amazon has quickly disrupted the tech industry and many believe that its possible that they could allocate a small percentage of their Cash to the digital asset.
Which companies do you believe could follow suit?
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