{"id":148773,"date":"2022-01-03T07:26:59","date_gmt":"2022-01-03T07:26:59","guid":{"rendered":"https:\/\/precoinnews.com\/?p=148773"},"modified":"2022-01-03T07:26:59","modified_gmt":"2022-01-03T07:26:59","slug":"bitcoin-holdings-of-public-companies-have-surged-in-2021","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-holdings-of-public-companies-have-surged-in-2021\/","title":{"rendered":"Bitcoin holdings of public companies have surged in 2021"},"content":{"rendered":"
The quantity of Bitcoin held by private corporations has increased significantly during 2021, building on increases from the previous year. <\/p>\n
In a Jan. 3 tweet, on-chain analyst Willy Woo claimed that public companies holding \u201csignificant BTC have gained market share from spot ETFs as a way to access BTC exposure on public equity markets\u201d. <\/p>\n
This has been more noticeable since MicroStrategy’s “Bitcoin for Corporations” conference on Feb. 3 and 4, 2021. The online seminar aimed to explain the legal considerations for firms seeking to integrate Bitcoin into their businesses and reserves.<\/p>\n
Michael Saylor\u2019s MicroStrategy is a leading business intelligence firm and is known for being particularly bullish on BTC, owning almost $6 billion in crypto assets.<\/p>\n
On Dec 30, Saylor\u2019s firm purchased a further 1,914 BTC worth $94 million. The company has gained more than $2.1 billion in profit since its initial BTpurchase in August 2020. <\/p>\n
Woo referenced a chart of BTC holdings inside ETFs and public company treasuries available for public ownership via equity markets, based on crowdsourced corporate treasury data. <\/p>\n
Spot Exchange Traded Funds (ETFs) hold BTC, as opposed to Futures, in which companies purchase exposure via contracts from the CME futures market. <\/p>\n
The data shows that digital currency asset management company Grayscale has gained the highest market share by a landslide, at 645,199 BTC by the end of 2021. This took up 71% of the wider market, as holdings of all spot ETFs and corporations together totaled 903,988 BTC according to the chart. <\/p>\n
Related: <\/em><\/strong>Missed out on hot crypto stocks in 2021? It paid just to buy Bitcoin and Ethereum, data shows<\/em><\/strong><\/p>\n MicroStrategy is the largest corporate investor, holding 124,391 BTC valued at around $5.8 billion according to BitcoinTreasuries. Second-placed Tesla holds around 43,200 coins worth roughly $2 billion at current prices. <\/p>\n During 2020, the amount of BTC held by public companies surged 400% in 12 months to $3.6 billion as reported by Cointelegraph.<\/p>\n