The amount of Bitcoin in the hands of private companies has increased significantly during 2021, taking advantage of the increases of the previous year.
In a Tweet on January 3, on-chain analyst Willy Woo stated that public companies that own “a significant amount of BTC have gained market share from spot ETFs as a way to access BTC exposure in public equity markets”.
This has been most noticeable since MicroStrategy’s “Bitcoin for Corporations” conference, held on February 3-4, 2021.. The webinar was intended to explain legal considerations for companies looking to integrate Bitcoin into their businesses and reserves.
Michael Saylor’s MicroStrategy is a leading business intelligence company and is known for being particularly bullish on BTC.; owns nearly $ 6 billion in crypto assets.
On December 30, Saylor’s company bought another 1,914 BTC worth $ 94 million. The company has made more than $ 2.1 billion in profit since its initial purchase of BTC in August 2020.
Woo referenced a chart of BTC holdings of public company treasuries available for public ownership through the securities markets, based on crowdsourced corporate treasury data.
Spot exchange-traded funds (ETFs) own BTC, unlike futures, in which companies acquire exposure through CME futures market contracts.
Since MicroStrategy’s “Bitcoin for Corporations” conference in Feb 2021, public companies * holding significant BTC have gained market share from spot ETFs ** as a way to access BTC exposure on public equity markets.
* MicroStrategy & public mining companies
** Mainly Grayscale pic.twitter.com/e18OEfgiEW– Willy Woo (@woonomic) January 2, 2022
Since MicroStrategy’s “Bitcoin for Corporations” conference in February 2021, public companies * holding a significant amount of BTC have gained market share from spot ETFs ** as a way to access BTC exposure in the markets. of public securities.
* MicroStrategy and public mining companies
** Mainly Grayscale
The data shows that the digital currency asset management company Grayscale has obtained the largest market share, with 645,199 BTC at the end of 2021. This took 71% of the overall market, as the holdings of all ETFs and spot corporations totaled 903,988 BTC according to the chart.
MicroStrategy is the largest corporate investor, with 124,391 BTC valued at about $ 5.8 billion, according to BitcoinTreasuries. The second classified, Tesla, owns about 43,200 coins worth about $ 2 billion at current prices.
During 2020, the amount of BTC in the hands of public companies soared 400% in 12 months, reaching USD 3.6 billion, as reported by Cointelegraph.
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