$18 Billion Worth Of Bitcoin Accumulated At $30,200 – BTC Bull Run Incoming?
A record 592,000 Bitcoin, or roughly $17.8 billion, was accumulated when the coin was trading at $30,200, recent Glassnode data indicates. At this accumulation rate, suggesting possible demand, more entities bought more coins at the second fastest pace in the network’s history. This record was only broken when 637,000 BTC were bought at an average price of $16,500. 592,000 Bitcoin Bought At $30,200 The spike in Bitcoin accumulated at this price point preceded the decision by a United States court to rule that XRP, an altcoin issued from the XRP Ledger (XRPL), is a commodity, just....
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Bitcoin has undergone a strong surge over the past few months. Data indicates that this rally is a result of mass accumulation by both retail and institutional players through venues like Square and Grayscale. Square and Grayscale alone have accumulated $2.3 billion worth of Bitcoin in the past quarter. For context, Bitcoin miners brought in around $1 billion worth of BTC over the course of the past quarter. Institutions Accumulate Bitcoin En-Masse: Data Bitcoin has […]
While asset managers have accumulated 4% of Bitcoin’s supply, private and public companies have also amassed 1% each. Around 6% of Bitcoin’s circulating supply has been accumulated by asset managers and companies, signaling ever increasing mainstream and institutional adoption of crypto assets.According to Buy Bitcoin Worldwide, 816,379 BTC worth $40.1 billion is currently held by 14 Bitcoin fund issuers and asset managers — representing 4% of the cryptocurrency’s supply. Industry leader, the Grayscale Bitcoin Trust, represents more than 3% of the Bitcoin supply, managing 654,600 BTC....
Microstrategy has purchased an additional $1.026 billion worth of bitcoin, raising the total number of bitcoins it has accumulated to about 90,531. Its CEO explained that his company remains focused on its two corporate strategies of growing its enterprise analytics software business and “acquiring and holding bitcoin.” More Than $2 Billion Worth of Bitcoin Now in Microstrategy’s Treasury Reserves Microstrategy Inc. announced Wednesday that “it had purchased an additional approximately 19,452 bitcoins for approximately $1.026 billion in cash at an average price of....
Coinbase has revealed that it has had “an explosion of incoming capital.” Its assets under custody currently stand at $20 billion, $14 billion of which were accumulated since April. Coinbase highlights a string of bullish events that have “really unleashed” a wave of institutional adoption. Coinbase Has $20 Billion Under Custody Coinbase’s Head of Institutional Coverage, Brett Tejpaul, talked about institutional demand for bitcoin in an interview with Heidrick & Struggles International, published on Friday. Tejpaul has 25 years of experience in sales and....
Nasdaq-listed company Microstrategy recently bought almost 17K bitcoins within 74 hours, costing about $175 million. The CEO of this billion-dollar company used to be a bitcoin skeptic but has recently become a bitcoin bull when his company purchased $425 million worth of bitcoin. Billion Dollar Public Company Dives Into Bitcoin Microstrategy recently made history in the bitcoin space when it became the first publicly-traded company to spend a material amount of its reserves to buy bitcoin. The company has purchased a total of 38,250 BTC at an aggregate price of $425 million. The first....