Grayscale buys more than 12,000 bitcoins in one day
Cryptocurrency fund Grayscale received over 12 thousand bitcoins in just one day. This amount received in one day was interpreted as a positive signal for Bitcoin, not more than the BTC purchase the company made during the entire last week.
Bitcoin faced selling pressure after its price soared to $ 24,200. BTC, which declined to the 22 thousand dollar band, rebounded and climbed again to over 23 thousand dollars. Meanwhile, there was a supply and liquidity crisis that could blow the price of Bitcoin, while Grayscale’s move of thousands of BTC drew attention.
Bitcoin fund Grayscale received 12,319 BTC for its Bitcoin Trust investment product in just 24 hours on December 22. That number is more than the total number of Bitcoins Grayscale received last week. According to Bybt data, the number of BTC held by Grayscale at the time of writing exceeded 588 thousand. As of December 22, the total value of bitcoins held by the company in its BTC investment product exceeded $ 13.5 billion, according to data published by Grayscale. The total value of the company’s assets under management was almost $ 16 billion
Stock markets record Bitcoin outflows
Bitcoin managed to stay above 20 thousand dollars, and companies such as Microstrategy, Grayscale continued their purchases of loaded BTC, while the supply of Bitcoin also began to dry up faster than expected. While Bitcoin price fluctuations occurred, a record level of Bitcoin output from the exchanges began to be observed. More than 16 thousand bitcoin outflows were recorded on the exchanges yesterday.
According to most analysts, this may be a situation that will trigger the price of Bitcoin upwards, with institutions buying BTC and putting them in cold wallets. According to experts, with low supply and increased BTC demand, the price could climb even higher. According to Dan held, a Kraken executive, BTC could reach a new peak by September 2021, looking at past post-half trends.