Fidelity "Decrease in Bitcoin (BTC) Supply on Exchanges... Impact of Direct Purchases by Listed Companies"
Summary
- Fidelity Digital Assets reported that the supply of Bitcoin on exchanges is decreasing due to direct purchases by listed companies.
- The current Bitcoin holdings of major exchanges are at their lowest level since 2018.
- Listed companies have been purchasing more than 30,000 BTC per month on average recently.
Fidelity Digital Assets, the cryptocurrency division of global asset management firm Fidelity, stated on the 24th (local time) via its official X (formerly Twitter) that "the supply of Bitcoin on major exchanges is decreasing due to direct purchases by listed companies," and analyzed that "this trend is expected to accelerate in the near future."
It continued, "The Bitcoin currently held by major exchanges is about 2.6 million BTC, the lowest level since November 2018," and reported that "more than 425,000 BTC have flowed out of exchanges since November 2024."
Additionally, it added, "Listed companies have accumulated about 350,000 BTC since the last U.S. presidential election, and have been purchasing more than 30,000 BTC per month on average this year."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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