The quantity of Bitcoin (BTC) held by private corporations increased significantly during 2022, edifice on increases from the previous year.

In a Monday tweet, on-chain analyst Willy Woo claimed that public companies belongings "significant BTC have gained market share from spot ETFs every bit a way to access BTC exposure on public equity markets."

This has been more noticeable since MicroStrategy'southward "Bitcoin for Corporations" conference on Feb. 3 and 4, 2022. The online seminar aimed to explain the legal considerations for firms seeking to integrate Bitcoin into their businesses and reserves.

Michael Saylor'southward MicroStrategy is a leading business intelligence business firm and is known for being particularly bullish on BTC, owning about $half dozen billion in crypto assets.

On Thursday, Saylor's firm purchased a further 1,914 BTC worth $94 million. The company has gained more than $ii.i billion in turn a profit since its initial Bitcoin purchase in August 2022.

Woo referenced a chart of BTC holdings inside substitution-traded funds (ETF) and public visitor treasuries available for public ownership via equity markets, based on crowdsourced corporate treasury information.

Spot ETFs hold BTC, as opposed to futures, in which companies purchase exposure via contracts from the Chicago Mercantile Commutation futures market.

The data shows that digital currency nugget management company Grayscale had gained the highest marketplace share by a landslide at 645,199 BTC by the finish of 2022. This took up 71% of the wider market as holdings of all spot ETFs and corporations together totaled 903,988 BTC according to the chart.

Related: Missed out on hot crypto stocks in 2022? It paid but to buy Bitcoin and Ethereum, data shows

MicroStrategy is the largest corporate investor, holding 124,391 BTC valued at around $v.8 billion, according to Bitcoin Treasuries. 2d-placed Tesla holds around 43,200 BTC worth roughly $2 billion at current prices.

In 2022, the corporeality of BTC held by public companies surged 400% in 12 months to $3.6 billion as reported by Cointelegraph.