Bitcoin reserves on cryptocurrency exchanges have dropped to their lowest level in more than six years, while listed companies increase their accumulation of digital assets following the American presidential election, according to Fidelity Digital Assets.
“We have seen the supply of Bitcoin down discussions due to public purchases – something that we plan to accelerate in the near future,” said Fidelity on the social media platform X.
Fidelity said that the Bitcoin (BTC) offer on exchanges fell at around 2.6 million BTC, the lowest since November 2018. More than 425,000 BTC have left trade since November, a trend often considered as a long -term investment signal rather than short -term negotiation.
During the same period, listed companies have acquired nearly 350,000 BTC, said Fidelity.
Fidelity Digital Assets is a subsidiary of Fidelity Investments, the asset manager of $ 5.8 billions of which are headquarters in Boston, Massachusetts. The Digital Fidelity subsidiary was created in 2018, long before the cryptocurrency was considered an institutional asset class.
Fidelity is the transmitter of the Fidelity Wise Origin Bitcoin Fund, one of the first 11 funds negotiated in Bitcoin exchange approved in the United States.
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The strategy dominates purchases of public companies
While Fidelity noted major business bitcoins purchases, most of the accumulation was motivated by the strategy, the business of business intelligence that has become Bitcoin Bank co-founded by Michael Saylor.
Since November, the strategy has acquired 285,980 BTC, representing 81% of the approximately 350,000 BTC bought by listed companies.
The last purchase of 6,556 BTC by the strategy was disclosed on April 21.
Outside the United States, listed companies in Asia have adopted a similar Bitcoin cash strategy, with Japanese metaplanet and Hong Asia Hong Kong Holdings increasing their Bitcoin allowances.
Metaplanet currently has 5,000 BTC, CEO Simon Gerovich saying that his goal was to double this amount this year.
Meanwhile, HK Asia Holdings announced its intention to remove around $ 8.35 million to potentially increase its Bitcoin reserves.
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