Summary
- Bitcoin's realized market capitalization has reached a record high of $93.488 billion.
- This increase in realized market cap is attributed to large-scale corporate acquisitions of Bitcoin.
- A CryptoQuant analyst noted that such institutional buying could lead to an increase in Bitcoin's realized price and serve as a catalyst for further gains.
The realized market capitalization (Realized Cap) of Bitcoin (BTC) has reached its highest level ever.
On the 9th (local time), Cointelegraph, citing data from CryptoQuant, reported that "Bitcoin's realized market cap recorded $93.488 billion, reaching an all-time high."
The new peak in Bitcoin's realized market cap is attributed to the ongoing wave of Bitcoin acquisitions by companies. Today, Strategy and KULR Technology Group each announced Bitcoin purchases amounting to $110.2 million and $13 million, respectively. In addition, other companies such as Metaplanet and Semler Scientific are also continuing their buying trends.
Earlier, Crypto Dan, a CryptoQuant analyst, told BloomingBit that large-scale institutional Bitcoin purchases could drive realized price increases and serve as a springboard for further gains moving forward.
Meanwhile, realized market capitalization for Bitcoin measures market cap based on the realized price. The realized price is the average Bitcoin acquisition cost for all investors; as the realized price rises, the resistance to selling among Bitcoin holders increases.
As of 10:13 PM, Bitcoin is trading at $107,640 on the Binance USDT market, up 1.81% compared to 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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