As Bitcoin’s price is expected to skyrocket, both retail and institutional investors seem to be buying Bitcoin in large quantities.
Recent data shows that two large cryptocurrency companies have purchased more than fifty percent of the BTC excavated this year.
Grayscale and CashApp buy Bitcoin
With growing interest in Bitcoin this year, statistics show that investors are buying extremely large amounts of it.
Grayscale (a crypto investment fund) and CashApp (an online payment and banking app) are reported to have purchased just over fifty percent of all BTC coins mined in the first quarter of 2020.
These data were shared on Twitter by the investor and trader Alistair Milne.
The editor-in-chief of Marty’s Ƀent reported similar information.
“Even more people are stocking up on CashApp”
It was previously reported that Wall Street could hold up to five percent of all circulating Bitcoin on the market – that’s 900,000 BTC.
The main venture capital investor buys a lot of BTC
Morgan Creek Digital co-founder Jason A. Williams turned to Twitter to share that he still buys large quantities of Bitcoin today.
When asked what “a lot of BTC” means , Williams replied – ” nice house “, apparently referring to the amount of money he has invested in BTC.
Morgan Creek Digital is also a venture capital fund that helps institutional investors manage their money. As his other co-founder, Anthony Pompliano, said earlier, the fund makes a lot of investments in BTC for its clients.