According to a recent report from prominent on-chain analyst Willy Woo, creator of the Woo Bull on-chain analytics chart platform, publicly-traded organizations (corporations)grew their collective crypto holding by 123.75% in 2021, bringing their crypto holdings from roughly 96,000 BTC from the start of the year to over 216,000 BTC by years end.
This massive jump reflects the growing interest in digital assets by corporations and institutional investors and highlights their willingness to hold BTC on their balance sheet.
Interestingly, this group (institutional investors) held only 20,000 BTC at the start of 2020 and grew this holding by 400% by the end of that year, according to a report from technology researcher Kevin Rooke.
Woo made his revelation via a series of tweets recently, noting that: “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.”
Top Bitcoin Holdings on Balance Sheet by Willy Woo
Meanwhile, the data revealed that crypto-asset management company Grayscale claimed the highest share of BTC holding in 2021, with 645,199 BTC on its balance sheet by the end of 2021. With all spot ETFs and corporations totaling 903,988 BTC in 2021, Grayscale controlled a whopping 71% of all institutional holdings.
Michael Saylor’s Microstrategy held down the number two spot, holding almost $6 billion in crypto assets. The leading business intelligence firm, known for being aggressively bullish on Bitcoin, held 124,391 BTC at the end of 2021. Interestingly, the firm grew its BTC holdings by over 76% in 2021, as it began the year with only 70,000 BTC on its balance sheet.
Moving on, other large corporations holding BTC include Tesla, 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.
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