Willy Woo Claims Bitcoin Holdings of Public Companies Jumped in 2022

On-chain analyst Willy Woo has said the quantity of bitcoin held by public companies has increased significantly during 2021 in comparison to 2020.

In a tweet, on-chain analyst Willy Woo has said that the quantity of bitcoin (BTC) held by public companies has increased by leaps and bounds in 2021 in comparison to 2020. He tweeted that public companies holding "significant BTC have gained market share from spot ETFs as a way to access BTC exposure in public equity markets."

In his tweet, Willy Woo shared a Bitcoin holding chart to show that by 2021-end, Grayscale Digital Currency Asset Management Company has accumulated the maximum number of bitcoins, which stands at 645,199 BTCs. All spot ETFs and corporations have a total BTC holding of 903,988 BTC.This means Grayscale’s bitcoin holding is over 71% of the wider market. 

Reports say that the real growth of public companies holding BTC increased after the "Bitcoin for Corporations" conference of MicroStrategy on February 3 and 4, 2021. MicroStrategy, a leading business intelligence firm led by Michael Saylor, is the largest corporate investor in bitcoin. It owns around US$6 billion in cryptocurrency assets and is particularly bullish on Bitcoin (BTC). 

The company bought an additional 1,914 BTCs (worth US$94 million at an average price of US$49,229 per BTC) on December 30, 2021. This has increased the company’s total BTC holdings to 124,391 BTCs, which is worth around US$5.78 billion currently. The total holding of BTC by Microstrategy was acquired for around US$3.75 billion at an average price of US$30,159 per BTC. 

BitcoinTreasuries says that Tesla is the second-largest corporate investor, holding 43,200 BTC tokens (worth around US$$2 billion at current prices).