Bitcoin supply on exchanges is falling ‘due to public company purchases’ — Fidelity
Bitcoin reserves on cryptocurrency exchanges have reached a six-year low, dropping to approximately 2.6 million BTC, the lowest since November 2018. Over 425,000 BTC have been withdrawn from exchanges since November, indicating a trend towards long-term investment. Publicly traded companies have acquired nearly 350,000 BTC during this period, with Strategy, co-founded by Michael Saylor, responsible for 81% of these purchases, totaling 285,980 BTC. Strategy's latest acquisition was 6,556 BTC on April 21. In Asia, companies like Japan's Metaplanet and Hong Kong's HK Asia Holdings are also increasing their Bitcoin allocations, with Metaplanet aiming to double its holdings of 5,000 BTC this year and HK Asia Holdings planning to raise $8.35 million to boost its reserves.
