Institutional investors are rapidly gobbling up Bitcoin, and at the time of writing, nearly 3% of the Bitcoin (BTC) in circulation are locked up in long-term holdings by these investors.
Data shows that 24 entities have amassed more than 460,500 BTC, which is equivalent to $22 billion at Bitcoin’s current price.
According to Michael Novogratz, this figure excludes the 3 million BTC forever lost, who estimates that a supply shortage could occur shortly if institutions keep up their current…
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