Institutional Investors Have Little Faith
Grayscale, a company that manages bitcoin assets, has noticed a decrease in its Bitcoin volumes. What this says is that institutional investors are not optimistic. The largest institutional investor in Bitcoin, Microstrategy, has increased its holdings. According to their most recent SEC filing, the firm has spent $6 million for Bitcoin at a price of approximately $19,851 per token. Together with its affiliates, Microstrategy now governs over 130,000 BTC.
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Looking at the numbers Microstrategy did put in, in acquiring more bitcoins, it would be worth noting that with bitcoin at $29.3k, that's about $10k on profit per Bitcoin which is something worth the time put in but still, you won't see them taking profit because, the idea still remains to accumulate and top up with every drop plus, the ATH is still some distance away and comes that, one would appreciate the idea behind taking some investment when the low was right for you.