Despite the market's bearish sentiment, this organization has continuously bought BTC and holds more than 1% of the total Bitcoin supply!
According to today's statistics (June 21, 2024), the German government transferred $200M worth of Bitcoin to exchanges for sale. This is only a small part of the total 50,000 BTC (3.25 billion USD) that they have confiscated from illegal websites since 2013 until now.
Another bad news is that Bitcoin miners have continuously sold BTC, causing miners' Bitcoin reserves to drop to the lowest level since 2021. This also causes downward pressure. Bitcoin price throughout recent times.
In a rather bearish context, one company continues to accumulate Bitcoin. None other than Micro Strategy of billionaire Michael Saylor. MicroStrategy raised $700 million through convertible bonds, then used this money to directly buy Bitcoin.
After this action, MicroStrategy and Michael Saylor officially hold more than 1% of the total BTC supply and are one of the largest BTC holding organizations in the world today! This will boost the morale of holders and encourage more people to invest long-term in Bitcoin.
