IntoTheBlock data: Genesis Trading holds 32,256.47 BTC, worth $2.15 billion
Despite filing for bankruptcy in January 2023 after the collapse of FTX, Genesis Trading still maintains a huge Bitcoin reserve. The latest data shows that Genesis Trading currently holds 32,256.47 BTC, worth about $2.15 billion. This shows that in a turbulent market environment, Genesis Trading still sticks to Bitcoin as an asset, highlighting its confidence in the long-term value of Bitcoin.
Genesis Trading holds a large amount of Bitcoin reserves, which may enhance the market's confidence in Bitcoin, especially among institutional investors.
Price support: Such a large amount of Bitcoin holdings means that a part of the supply in the market is locked for a long time, which may support the price of Bitcoin. Investors can consider increasing their holdings at the current price level.
Despite holding a large amount of Bitcoin, Genesis Trading is still in bankruptcy proceedings, and investors need to carefully observe the company's further financial dynamics to guard against potential risks.
As institutions' recognition of Bitcoin increases, the market outlook for Bitcoin remains optimistic in the long run. Investors are advised to gradually establish long-term positions in the current market fluctuations.
This news may boost market sentiment. Bitcoin trading volume and price may fluctuate in the short term. It is recommended to flexibly adjust the position strategy.
