Institutional investors and long-term Bitcoin holders have reached a record high in Bitcoin ownership.
According to ARK Invest's latest report, the amount of Bitcoin held outside of exchanges has increased by 60% in Q2 2023. With over 8,000 Bitcoins held by institutions and large investors, it indicates a growing interest in this cryptocurrency.
Cathie Wood, the CEO of ARK Invest, uses OTC data to gauge institutional activity, revealing a rising interest from institutions and large investors in Bitcoin. The report also highlights that approximately 70% of the circulating Bitcoin supply has remained untouched for over a year, demonstrating the confidence of long-term Bitcoin holders in the network.
