Institutioner holder mere Bitcoin end nogensinde før, siger Ark Invest - Decrypt

Institutioner holder mere Bitcoin end nogensinde før, siger Ark Invest – Dekrypter

Tidsstempel: 6. juli 2023 kl. 4:18
Institutions Are Holding More Bitcoin Than Ever Before, Says Ark Invest - Decrypt PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Institutional investors and long term Bitcoin holders are showing signs of improved bullishness, hitting highs on several important indicators, rapporteret ARK Invest.

According to a new issue of Bitcoin månedlig, an “earnings report” that details on-chain activity, the balance of Bitcoin held on over-the-counter (OTC) desks has hit an all-time high. Nearly 8,000 Bitcoin are sitting on these desks, notching an impressive 60% increase this quarter.

Cathie Woods ARK uses OTC desks as a proxy for institutional activity, suggesting that the numbers reported show institutions and other large capital allocators are focused increasingly on Bitcoin–a bullish sign, they say.

"Efter vores mening tyder øgede saldi på OTC-desks på, at institutioner og andre store kapitalallokatorer i stigende grad fokuserer på Bitcoin," skrev Ark i rapporten.

Keeping on the institutional trail, the report also touches upon Grayscale’s Bitcoin Trust (GBTC), one of the few firms that caters to large or accredited investors. It has been on quite the run this year, doubling in value–with its GBTC shares starting the year at $8.65 now skiftende hands at $20.

The so-called GBTC “Rabat,” which refers to the difference between the price for the shares and the net asset value (NAV) of GBTC’s holdings–has narrowed to -30%, which ARK suggests could be the market’s optimistic sign to the recent ETF filings.

Long-term Bitcoin holders are often considered a sign of strength for the network, a sentiment that ARK said it agrees with. The report notes that nearly 70% of the 19 million circulating forsyne of BTC has not moved in more than a year–an all-time high in both relative as well as absolute terms.

indberette also showcases 13 metrics for Bitcoin’s network–ranging from percent supply in profit to miner difficulty. Only two of these metrics (transaction volume and time-weighted turnover) are considered neutral, whereas the rest, says ARK, are flashing bullish.

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