Since Microstrategy’s “Bitcoin for Corporations” conference in February 2021, the amount of BTC held by public businesses has surpassed that held by spot ETFs by a substantial margin.
In 2021, the amount of Bitcoin held by private corporations climbed dramatically, building on previous year’s gains.
On-chain expert Willy Woo said in a tweet on Jan. 3 that public businesses with “substantial BTC” have “gained market share from spot ETFs. Of course, as a way to obtain BTC exposure on public equities markets.”
Since MicroStrategy’s “Bitcoin for Corporations” conference on Feb. 3 and 4, 2021, this has been increasingly apparent.
The goal of the online session was to discuss the legal implications for businesses. That’s, looking to incorporate Bitcoin into their operations and reserves.
MicroStrategy, a major business intelligence organization founded by Michael Saylor. Who is recognized for being very bullish on Bitcoin, with about $6 billion in crypto assets under management.
Saylor’s firm purchased another 1,914 BTC for $94 million on December 30. Since its original BTpurchase in August 2020, the firm has made a profit of more than $2.1 billion.
Based on crowdsourced corporate treasury data, Woo referenced a graphic showing BTC holdings inside ETFs. Then, and public company treasuries available for public ownership via equity markets.
BTC is held in Spot Exchange Traded Funds (ETFs), as opposed to Futures, where firms buy exposure through contracts on the CME futures 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
Grayscale, a digital currency asset management company, has a landslide market share of 645,199 BTC by the end of 2021, according to the data. According to the graphic, this accounted for 71% of the overall market, with total holdings of all spot ETFs and businesses totaling 903,988 BTC.