MicroStrategy’s Bitcoin Pile Dwarfs Most S&P 500 Cash Holdings

MicroStrategy’s Bitcoin Pile Dwarfs Most S&P 500 Cash Holdings

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  1. The enterprise software provider, which made Bitcoin purchases an official corporate strategy a year ago, announced Monday that it bought an additional 5,050 Bitcoins for about $242.9 million, raising the value of its 114,042 coin hoard to about $5.3 billion. That’s more than the amount of cash currently held by 80% of the non-financial companies in the S&P 500, including such bellwethers as Starbucks Corp., Verizon Communications Inc. and Home Depot Inc.

  2. Most corporations don’t carry much excess cash, because shareholders want cash invested in higher return seeking investments. Otherwise cash gets returned to shareholders via dividends and buybacks. There are exceptions obviously, such as cash held off shore for tax implications.

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