Since 40% of the circulating bitcoins have not been moved for over 2 years, Wall Street brokers are also starting to buy and hold BTC on a large scale. We report to you on current insights on the topic: institutional demand for Bitcoin! The combined purchasing power of the two companies, Grayscale and MicroStrategy, leads to an increase in institutional demand for new coins, with “selling” not being part of their strategy, as on-chain data clearly shows.
The institutional demand for Bitcoin far exceeds the supply
Data from various on-chain sources shows that over 40% of Bitcoin supplies haven’t left your wallet in two years. At the same time, institutional sources are buying up huge amounts of BTC, which increasingly looks like preparation for a long-term investment strategy. In the past few weeks, miners have produced fewer new coins than the combined demand of these two institutional players. Since the release of “new” BTC per block is certain – and fell by 50% when it halved in May – price increases were virtually guaranteed. According to analyst Kevin Rooke, investment firm Grayscale has added 14,422 BTC to its $ GBTC trust assets in the past two weeks. – The company Microstrategy even bought 21,454 BTC in the same period. – In comparison, Bitcoin miners only mined 12,594 BTC.