It became known who bought 85% of bitcoins since the beginning of the year

According to a report by Matrixport, since the beginning of 2023, large US companies have been actively buying bitcoin. According to Matrixport, 85% of bitcoin purchases were made by institutional investors.

Matrixport is a financial company that offers investors crypto services for storing, trading, lending, and managing digital assets.

The firm’s chief strategist Біллі Маркус" href="https://noworries.media/biography/billi-markus/" data-bio-id="3704">Markus Thielen said that the growing interest of major players in cryptocurrencies is a sign of an approaching bull market. Matrixport analysts have found out the relationship between market behavior and purchase patterns. If a digital asset shows good results during the US trading session, it is a sign that it is bought by American institutions. When a token is traded more during Asian trading hours, Asian retail investors are interested in it.

Matrixport representatives noted that since the beginning of 2023, BTC $98,490.33 Bitcoin -0.09% Market capitalization $1.95 trillion VOL. 24 hours $4.44 billion has grown by 40%. 35% of this growth came from the US trading hours. Thus, American investors «acquired 85% of the VTC». According to Marcus Thielen, large companies usually buy bitcoin first and then move on to invest in other cryptocurrencies. Therefore, we should expect the value of other digital assets to rise.

It is worth noting that in 2022, institutional investors invested only $ 433 million in cryptocurrencies. This was the worst figure since 2018. The significant drop in investment was caused by market volatility, major upheavals in the industry (such as the Terra and FTX collapses), and a noticeable increase in regulatory control. That is why, according to experts, a 95% reduction in crypto investments compared to 2021 is quite expected.