Bitcoin's Continuous Exit From Exchanges Can Only Push The Price Higher
Institutional investors got comfortable with accumulating Bitcoin from Q4 of 2020 and it hasn't slow down and not likely to slow considering the appetizing gains for accumulating BTC.
One of the impact of accumulating BTC in millions and billions is moving it off exchanges for safer storage.
As per the latest update from popular Twitter handle Bitcoin Archive, around 2000 Bitcoin’s have moved off from Coinbase recently. Meaning nearly $120 million worth of Bitcoins have left the exchange and into cold storage. Source
With only 21 million max supply of BTC and approximately 19 million BTC in circulation and some lost forever Bitcoin is only going to surge higher in price.
Having Bitcoin moved off exchanges for safer storage or locked in some DeFi can only accelerate it's scarcity and consequently keep pushing the price to the moon and beyond.
It is increasingly looking like not only does Bitcoin matters but every SATs counts as well. We probably are heading into a future where SATs are going to be worth $50 or more. The possibilities are there provided Bitcoin keeps surging north of the four cardinal points.
More reason to seat on those BTC and HODL away!
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