Publicly listed companies’ bitcoin holdings up in 2021

In 2021, the amount of Bitcoin held by private corporations climbed dramatically, building on previous year’s gains.

In a tweet on Jan. 3, on-chain specialist Willy Woo said that “big BTC have acquired market share from spot ETFs as a way to access BTC exposure on public equities markets.”

Since MicroStrategy’s “Bitcoin for Corporations” conference on February 3 and 4, 2021, this has been increasingly evident. 

The goal of the session

The goal of the online session was to discuss the legal implications for businesses looking to incorporate Bitcoin into their operations and reserves.

MicroStrategy, a prominent business intelligence firm founded by Michael Saylor, is known for being a big proponent of Bitcoin, with $6 billion in crypto assets under management.

On December 30, Saylor’s firm paid $94 million for another 1,914 BTC. The company has achieved a profit of more than $2.1 billion since its first bitcoin purchase in August 2020.

Woo cited a chart of Bitcoin holdings in exchange-traded funds and public company treasuries that are available for public ownership via equities markets, which was compiled using crowdsourced corporate treasury data.

The biggest corporate investors

Unlike futures, where corporations buy exposure through contracts on the CME futures market, BTC is kept in Spot Exchange Traded Funds.

Per the estimate, Grayscale, a digital currency asset management company, would have a landslide market share of 645,199 BTC by the end of 2021.

This accounted for 71% of the overall market, with total holdings of all spot ETFs and corporations totaling 903,988 BTC, according to the graph.

As per BitcoinTreasuries, MicroStrategy is the greatest corporate investor, with 124,391 BTC worth roughly $5.8 billion. 

Tesla is in second place with over 43,200 coins valued at almost $2 billion at current pricing.

The amount of BTC held by public firms increased 400% in a year to $3.6 billion in 2020.

 

Image courtesy of Cointelegraph News/YouTube

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