Kalam Cypto #136: Bitcoin Surpasses Aramco, Now 7th Largest Global Asset

“It's better to be a warrior in a garden than a gardener in a war” Miyamoto Musashi

Ahlan wa sahlan, and welcome to the 136th edition of CoinMENA’s weekly newsletter, Kalam Crypto! This week, Bitcoin surpasses Aramco, the largest oil company, to become the 7th largest asset in the world by market cap. We also dive into the growing trend of companies adding Bitcoin to their balance sheets as a reserve asset and explore the United States’ serious consideration of adopting Bitcoin as part of its strategic reserves. All this and more in this week's edition of Kalam Crypto!

Lightning Round ⚡️

More companies are adding Bitcoin to their balance sheets, following the lead of MicroStrategy, which has outperformed every listed U.S. stock, including Nvidia and Bitcoin itself. The trend underscores the growing confidence in Bitcoin as a treasury reserve asset. Here’s how the corporate world is embracing the digital gold standard:

MicroStrategy Sets a New Record with Largest Single-Day Bitcoin Purchase MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at an average price of ~$88,627 per Bitcoin, marking the largest single-day Bitcoin purchase in history. This brings their total holdings to a staggering 331,200 BTC, acquired for ~$16.5 billion at an average price of $49,874 per coin. Since adopting Bitcoin in 2020, MicroStrategy has also been the best-performing listed U.S. stock, outpacing even Nvidia. The company continues to set the standard for corporate Bitcoin adoption and demonstrates the long-term potential of Bitcoin as a strategic asset.

Metaplanet Inc. Drives Japanese Adoption: Tokyo-listed investment firm Metaplanet Inc. increased its Bitcoin holdings by 124.1 BTC, worth $11.3 million at an average price of $91,266 per coin. This brings their total to 1,142.2 BTC ($104.8 million). The announcement spiked the company’s stock price, which closed up 15.1% on Tuesday. Metaplanet’s stock has soared 1,334% year-to-date, a sign of growing investor confidence in Bitcoin-backed strategies.

Marathon Digital Expands BTC Reserves: Bitcoin miner Marathon Digital (MARA) added 6,210 BTC in Q3, increasing its total reserves to 26,747 BTC. The acquisition includes 4,144 BTC purchased using proceeds from a $300 million convertible notes offering at an average price of $59,500 per coin. With mining operations and strategic purchases, MARA remains a significant player in the corporate Bitcoin treasury race.

Genius Group Bets Big on Bitcoin: Singapore-based AI firm Genius Group (GNS) has adopted a Bitcoin treasury strategy, committing 90% of its current and future reserves to BTC. The company’s bold move begins with an initial $120 million purchase, signaling a transformative shift in its reserve management approach.

Bitcoin’s growing adoption as a treasury reserve asset highlights its rising credibility among global institutions. Which organization will be the next to join the Bitcoin balance sheet revolution? And who will be the first MENA company to take the leap? Stay tuned with Kalam Crypto!

Keep an eye on 👀

💰 U.S. Strategic Bitcoin Reserve: A Game-Changing Proposal: Senator Cynthia Lummis has introduced the Bitcoin Act of 2024, a groundbreaking proposal that could redefine Bitcoin’s role in national reserves. The act aims to establish a Strategic Bitcoin Reserve managed by the U.S. Treasury, with plans to acquire up to 1 million BTC over the next five years—equivalent to approximately 5% of Bitcoin’s total supply.

If enacted, this initiative would mark a seismic shift in how Bitcoin is treated, transforming it from a confiscated or speculative asset into a recognized strategic reserve. By legitimizing Bitcoin at this level, the U.S. would signal trust in digital assets, set a global precedent, and potentially inspire other nations to adopt similar measures.

Did You Know 🤔

In the last two weeks, Bitcoin’s market capitalization surpassed silver, the thousand-year-old monetary asset, and Aramco, the world’s largest oil company. Bitcoin is now the 7th largest asset globally by market cap, cementing its place among the world’s financial giants.

Tweet Of The Week 🐥

CoinMENA News 🗞️

Refer & Earn: We’d like to welcome all our new users to CoinMENA and remind our loyal community about CoinMENA’s referral program, where you can earn unlimited rewards! Simply generate your referral link (check out our how-to video here), share it with friends, and family, or on your social media, and earn $5 for every successful referral. A referral is successful once the person you invited completes their account verification.

Quiz Corner ✅ 

Last week’s question: Which major milestone did Bitcoin reach this week? The correct answer is A) Bitcoin’s value surpassed that of silver. This week’s question is, Bitcoin recently became the 7th largest global asset by market cap. Which asset is next in line for Bitcoin to overtake?

A) Google B) Microsoft C) Nvidia D) Gold

See the answer in next week’s newsletter. Or check out our learning platform https://university.coinmena.com/