Institutional investors continue to accumulate Bitcoin
Institutional investors who have bought thousands of Bitcoins continue to buy and are not selling yet. CryptoQuant CEO Ki Young Ju announced that corporations purchased 12,297 BTC worth about $ 574,097,742 at a price of $ 46,686 and pulled their BTC to storage devices.
Similar BTC purchases had been made on February 25 before. According to Coinbase Pro data, on February 25, 13,000 BTC was purchased and transferred to cold wallets.
At the beginning of February, 15k BTC was purchased and when we look at Ki Young Ju's tweet series in February, we can see many corporate BTC wallet addresses. When we check the wallets here, some of the investors are doing HODL; some of them seem to continue to increase their balance. But I guess nobody is thinking of selling.
In short, when we look at the shared data, I think institutional investors think that the current price of BTC is a correction and an opportunity for a purchase. According to CryptoQuant data, the average exit price of yesterday's transactions was $ 46,686. BTC / USD is currently trading at $ 48,170.
"I do not give investment advice, I just guess by following the world news. Sudden losses in value can happen anytime, things can turn around, but I always believe that cryptocurrencies will gain more value in the long run. I mainly invest in Btc, eth and some coin that I trust."
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