Market

Public companies increase Bitcoin Hodl in 2021

The amount of Bitcoin held by publicly traded 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 companies increased significantly in 2021 compared to the previous year.

In a tweet on Monday, on-chain analyst Willy Woo claimed that publicly traded companies that hold a lot of BTC were gaining market share from spot ETFs to gain exposure to BTC in the market.

https://twitter.com/woonomic/status/1477551979094491140?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

This has received more attention since the MicroStrategy conference “Bitcoin for Corporations” on February 3rd and 4th, 2021.

MicroStrategy is a leading business intelligence company known as the BTC bull with around $ 6 billion in top cryptocurrency.

On Thursday, Saylor’s company bought an additional 1,914 BTC worth $ 94 million. The company has made over $ 2.1 billion in profits since its first Bitcoin purchase in August 2020.

Woo mapped BTC holdings in ETFs and government bonds that are publicly owned through the stock market.

Spot ETFs hold large amounts of BTC, unlike the futures market, where companies buy the transaction value through contracts on the futures market of the Chicago Mercantile Exchange.

The data shows that Grayscale, the digital currency asset management company, holds the highest market share at 645,199 BTC at the end of 2021, or 71% of the market. All spot ETFs and companies currently hold a total of 903,988 BTC.

MicroStrategy is the largest investment company, holding 124,391 BTC worth approximately $ 5.8 billion. Tesla comes in second, holding nearly 43,200 BTC worth about $ 2 billion at current prices.

In 2020, the BTC amount of publicly traded companies rose 400% in 12 months to $ 3.6 billion.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.