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US Bitcoin ETFs Accumulate BTC, Buying ~$216.4M Yesterday

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Table of Contents

  • Despite the market volatility, US Bitcoin ETFs are systematically buying BTC
  • IBIT, FBTC, and ARKB made another purchase of $121M, $91M, and $43M, respectively
  • While Germany’s wallet dropped by more than half to 22,845 BTC

Many eyes are on Germany’s massive BTC sell-off and trying to understand where this is leading. You can read more about this in our recent articles.

However, in the meantime, US Bitcoin EFTs are showing consistent signs of their already-known strategy of accumulating the most BTC possible with an eye on the long term.

And yesterday’s cumulative purchase of ~$216.4M is another sign that should not be overlooked.

Why US Bitcoin ETFs Are Still Buying?

Well, the first thing to note is that regardless of Germany’s actual strategy, it’s not the only one winning. Making such big announcements and sales and dropping Bitcoin’s price down provides a great opportunity for US Bitcoin EFTs to realize their possible long-term strategy of hoarding on increasingly favorable terms.

If we eventually get into a situation where Bitcoin becomes the invaluable strategic and main reserve asset, determining the leading economies for the next decades, it potentially strengthens the US.

Of course, US Bitcoin EFTs differ from the US government, which holds its own Bitcoin reserve. But no one else is likely to benefit from consolidating such a large treasure trove in a U.S. jurisdiction.

What Can It Tell Us?

It reminds us that the market is full of big players, and the actions of one of them must always be seen in the context of the possible interests of others. Let’s assume things are a bit more complicated than the US winning and others losing.

What if all the major players have already realized Bitcoin’s true potential in the future of global politics and economics, and intend to consolidate the largest amount of it to justify their dominance going forward?

After all, it’s worth remembering that big capital doesn’t like disorder and uncertainty. Therefore, the largest players can approach the realization of the same but already agreed-upon goal differently and perform different functions on the way to it, creating opportunities for each other.

We should keep a close eye on the mutual dynamics of the largest sales and purchases, so as not to miss any possible patterns. Join our Legends Community to stay one step ahead of world and crypto-economics events and get the most up-to-date, trusted, and grounded information from the world of finance and crypto!

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