The amount of Bitcoin held by public companies in spot ETFs has increased dramatically since MicroStrategy’s Bitcoin for Corporations conference in February 2021.
The amount of Bitcoin (BTC) held by private corporations has increased significantly in 2021, compared to the previous year.
In a tweet on Monday, on-chain analyst, Willy Woo, claimed that public companies that hold a lot of BTC have been gaining market share from spot ETFs as a way to gain exposure to BTC in the market. public stock market”.
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
This has received more attention since MicroStrategy’s “Bitcoin for Corporations” conference, which took place on February 3 and 4, 2021. The webinar explained the legal issue to companies looking to find a way. integrate Bitcoin into trading and reserve operations.
MicroStrategy is a leading business intelligence company, known to be BTC bulls having around $6 billion in top cryptocurrency.
On Thursday, Saylor’s company purchased an additional 1,914 BTC worth $94 million. The company has raked in over $2.1 billion in profits since its first Bitcoin purchase in August 2020.
Woo charted BTC holdings inside ETFs and public company treasuries, which have public ownership through the stock market.
Spot ETFs are holding large amounts of BTC, as opposed to the futures market, where companies buy transaction value through contracts from the Chicago Mercantile Exchange futures market.
The data shows that digital currency asset management company Grayscale holds the highest market share with 645,199 BTC at the end of 2021, or 71% of the market. All spot and conglomerate ETFs currently hold a total of 903,988 BTC.
MicroStrategy is the largest investment enterprise, holding 124,391 BTC worth about $5.8 billion. Tesla comes in second, holding nearly 43,200 BTC worth about $2 billion at current prices.
In 2020, the amount of BTC held by public companies increased by 400% in 12 months, reaching $3.6 billion.
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Viet Cuong
Bitcoin Magazine
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