As cryptocurrency and NFT transform the way of life, discover these leading CEOs who have also joined in.
Apple CEO Tim Cook recently revealed he has personal cryptocurrency holdings
Jack Dorsey, the ex-Twitter CEO, sold his first tweet as an NFT for $2.9 million. Square, currently led by Dorsey, has Bitcoin investment in its balance sheet.
Elon Musk, Tesla CEO, owns Bitcoin, Ethereum, and Dogecoin.
Michael Saylor, MicroStrategy CEO, now owns more Bitcoins than any other publicly-traded firm worldwide.
Some of the biggest names in the business arena have continued to endorse cryptocurrencies. Mainstream adoption, endorsements by prominent personalities, and the overall potential of digital assets are grabbing the attention of leading CEOs running billion-dollar organizations.
Let's look at these CEOs and companies that own cryptocurrencies.
Tim Cook, the CEO of Apple, recently admitted his holdings in virtual currencies. In an interview with DealBook, he said it was reasonable to diversify his portfolio by holding crypto. The CEO believes that owning Bitcoin and Ethereum, the largest and second-largest cryptos, respectively, diversifies his investment portfolio. However, Tim Cook ruled out any immediate plans to incorporate crypto as a payment method to buy Apple products. In addition, he was skeptical about Apple company purchasing digital assets as an investment.
Apple devices allow users to download crypto wallets and exchange applications from the app store, but, it does not support users to mine digital assets.
The NFT wave did not leave ex-Twitter founder and CEO Jack Dorsey behind. Dorsey sold his first-ever tweet as a non-fungible token for over $2.9 million in March. The CEO's statements and actions indicate his bullish stance on Bitcoin. On a number of occassions, his statements constitute the notion that Bitcoin is the best manifestation of creating a global native currency. Jack Dorsey, who put #bitcoin as his Twitter bio, believes that the internet is rapidly adopting decentralized infrastructure. In July, during the B-word conference, we got a glimpse of his passion for Bitcoin and the crypto sphere. He reiterated his hope for Bitcoin to bring around world peace.
Twitter has not yet incorporated the coin on its balance sheet. But Jack Dorsey’s leadership in Square, a payments company, has influenced the company into adopting users to buy Bitcoin. Square purchased $50 million on $4,700 BTC in 2020 as an investment. Earlier this year, Square made a $170 million investment on more Bitcoins. With such an investment, 5% of the company’s aggregate assets are invested in BTC.
Elon Musk has moved crypto waters several times, was there ever a doubt that he didn’t own it? In 2021, he revealed that he owns Bitcoin, Ethereum, and Dogecoin during the B-word conference.
He claimed to support Doge since he believed that it was the people’s crypto. He joked that it could be the next reserve currency since it was developed as a joke coin, and fate adores irony. A single endorsement tweet saw the coin climb 800%. There is no denying that he holds an influence which in turn impacts crypto prices. The CEO also hinted at a plan to hold his Bitcoin long-term despite criticism for its environmental impact and mining.
In February, Tesla made a $1.5 billion investment on Bitcoin, making headlines. This news was followed by Tesla announcing Bitcoin can be accepted as a payment method for their products. These two events led to the digital coin’s bull run, hitting over the $50K mark. In May, Tesla reversed its decision to accept Bitcoin as a payment method citing environmental reasons.
To think that Michael Saylor was once a cryptocurrency critic is unbelievable. In 2013, he tweeted that investing in cryptocurrency is like gambling, and their days were numbered. However, the CEO of MicroStrategy, a Virginia-based analytics platform, has become one of the prominent advocates of cryptocurrencies. His analytics business has now made Bitcoin its primary reserve currency. Consequently, at the beginning of January, MicroStrategy bought 71,000 BTC.
The MicroStrategy CEO has come to laud the concept of virtual currency as incorruptible, providing billions with financial access. He has followed Jack Dorsey’s suit to claim his support through his Twitter bio. Moreover, his enthusiasm for the coin can be seen by the move he made with his company. At some point in 2020, he admitted to buying Bitcoin worth $1000 every second. The crypto price crash in February did not demotivate Saylor. He continued to purchase an additional 20,0004 BTC, worth over $1 billion. He aimed to ensure MicroStrategy stood grounds as a publicly-traded firm in endorsing Bitcoin.
In a CoinDesk meeting, Saylor confirmed that he is still holding his Bitcoins. During the Q3 2021 period, the firm had also purchased additional Bitcoin worth $242.9 million, at an average of $48,099 per token. MicroStrategy now owns more Bitcoins than any other publicly-traded firm worldwide. He continues to argue of the currency’s bullish. He justifies that MicroStrategy is capable of raising capital without incurring debts.
Rising interest in digital assets
In the last two years, we have seen rising investments and interest from prominent companies, CEOs, for digital assets. Analyzing the current scenario indicates that we are likely to witness new leaders stepping into the space of cryptocurrency and blockchain technology.