Institutional Investors Accumulate Over 100,000 BTC Ahead of Trump\'s Potential BTC Acquisition Policy Announcement
- WBOYOriginal
- 2024-07-24 09:47:13376browse
NAIROBI (CoinChapter.com) — Institutional investors have shown confidence in Bitcoin despite market fluctuations.
Institutional investors are showing confidence in Bitcoin (BTC) despite the recent market downturn.
According to data from CryptoQuant, institutional players have added over 100,000 BTC to their portfolios over the past month.
This accumulation trend highlights the long-term value that institutional investors see in Bitcoin, especially as we await the announcement of Trump’s potential BTC Acquisition Policy.
A significant institutional accumulation occurred in the first week of July, with institutions scooping up approximately 101,600 BTC.
Unlike earlier in the year, this buying spree is not being driven by fundraising for Bitcoin ETFs, which saw a wave of interest in the first half of 2024.
Instead, it reflects a strategic move by large players to buy the dip amid falling prices, indicating a strong belief in Bitcoin’s future prospects.
Several companies have made substantial Bitcoin purchases recently. Among them, Michael Saylor’s MicroStrategy is making waves with its large Bitcoin acquisitions.
As part of a dollar-cost averaging strategy, MicroStrategy began purchasing Bitcoin in August 2020.
Between late April and mid-June 2024, the company purchased 11,931 Bitcoins at an aggregate price of about $780 million, to be received in 2026.
These purchases increase MicroStrategy’s total Bitcoin holdings to 226,331 BTC, valued at around $8.33 billion.
Japanese investment firm Metaplanet has also continued its aggressive Bitcoin acquisition strategy.
On July 22, 2024, Metaplanet announced the completion of its 1 billion yen Bitcoin purchase plan.
The company bought an additional 200 million yen worth of Bitcoin, totaling 20.381 BTC at an average price of 9,813,061 yen per Bitcoin.
This brings Metaplanet’s total Bitcoin holdings to 245.992 BTC, purchased at an average price of 9,959,687 yen per Bitcoin, with an aggregated amount of 2.45 billion yen.
Furthermore, Semler Scientific (SEM), a publicly traded medical device company, has adopted Bitcoin as its primary reserve asset.
In late May, the firm purchased 581 Bitcoins for about $40 million, increasing its total BTC holdings to 828.
This decision reflects a growing trend among companies to use Bitcoin as a hedge against economic uncertainty.
As we approach July 27, anticipation is building for Donald Trump’s potential announcement on Bitcoin.
Many speculate that Trump may endorse Bitcoin as a strategic reserve, which could have a significant impact on the cryptocurrency.
Bitcoiners are eagerly awaiting any news from the event, especially given Trump’s ability to influence markets with his statements.
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