Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Major corporations grew their BTC holdings by 123.75% in 2021

Ajibola Akamo by Ajibola Akamo
January 3, 2022
in Cryptos
Bitcoin on dollars
Share on FacebookShare on TwitterShare on Linkedin

Data from one of the world’s leading on-chain analytics expert, Willy Woo, who goes by the name, ‘Woonomic’ and the curator of the Woo Bull on-chain analytics chart platform, reveals that publicly traded organization increased their BTC holdings by 123.75% from over 96,000 BTC at the beginning of the year, to end the year, holding over 216,000 BTC.

This increase in 2021 shows a growing interest in the asset class by corporations and their willingness to hold BTC on their balance sheet. In 2020, BTC holdings surged by 400% according to data from technology researcher Kevin Rooke, in which at the beginning of 2020, public companies held approximately 20,000 BTC.

In a tweet, Willy Woo stated, “Since MicroStrategy’s ‘Bitcoin for Corporations’ conference in February 2021, public companies holding significant BTC have gained market share from spot ETFs as a way to access BTC exposure on public equity markets.”

Read: Bitcoin reclaims trillion dollar asset status

What you should know

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 totalled 903,988 BTC, according to the chart.

MicroStrategy, ran by outspoken Bitcoin enthusiast, Michael Saylor, is a leading business intelligence firm and is known for being particularly bullish on BTC, owning almost $6 billion in crypto assets. Saylor leads the pack as his company now holds 124,391 BTC. This accounts for 57% of the total BTC holdings by corporations. In 2021, the firm grew its BTC holdings by 76.51% as it started 2021 holding a little over 70,000 BTC.

Just before the year ended, Saylor’s firm purchased a further 1,914 BTC worth $94 million. The company has gained more than $2.1 billion in profit since its initial BTC purchase in August 2020.

Read: Square plans to build an open-source bitcoin mining system

Tesla, the electric car company ran by the world’s richest man and dogecoin enthusiast, Elon Musk, began holding BTC on the 31st of January 2021 with a total of 42,902 BTC. However, it ended the year holding 37,846 BTC, down approximately 11%. During the year Elon, who announced he had no intention of selling the company’s BTC holdings, announced later that it sold some BTC to “prove liquidity of the cryptocurrency.”

Conclusion

Other corporations holding BTC includes Galaxy Digital, Square, Marathon Digital, Argo Blockchain, Exodus Movement, Coinbase, Hut 8 Mining, Riot Blockchain, Bitfarms, DigitalX, Neptune Digital Assets, Cypherpunk Holdings, Fortress Technologies, and Mercado Libre.

BTC trades $46,900, down 0.55% for the day, as of the time of this writing.

Related

Tags: Argo BlockchainBTCsExodus MovementGalaxy DigitalMarathon DigitalSquare

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets
First bank





    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • UBA upgrades Chatbot features, as Leo launches service on Google Business Chat, Instagram
    • Terra co-founder, Do Kwon, summoned by South Korean parliament over Terra debacle
    • JAMB refutes error in its scoring system, reacts to plans to organize another UTME

    Follow us on social media:

    Recent News

    UBA upgrades Chatbot features, as Leo launches service on Google Business Chat, Instagram

    UBA upgrades Chatbot features, as Leo launches service on Google Business Chat, Instagram

    May 17, 2022
    Terra founder, Do Kwon, breaks silence and offers proposal to restore UST peg

    Terra co-founder, Do Kwon, summoned by South Korean parliament over Terra debacle

    May 17, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
    • Economy
      • Macro-Economic News
      • Get Data
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com