Over the last year, institutional investors have been flocking toward crypto assets like bitcoin and after Microstrategy’s initial bitcoin purchase, the trending institutional demand for crypto started swelling. On Tuesday, the San Francisco trading platform Coinbase published a study that details how the company helped the firm One River Asset Management make “one of the largest digital asset trades in history.”
Not too long ago, Microstrategy purchased bitcoin (BTC) for treasury reserves, and ever since then, a great number of well known firms have swapped cash and stocks for BTC reserves. For example, the web portal bitcointreasuries.org shows there are now 29 companies holding over 1.5 million BTC worth over $36 billion using today’s exchange rates. Today these firms hold approximately 5.48% of the bitcoin supply. Coinbase revealed that the San Francisco exchange helped facilitate the initial bitcoin (BTC) purchase for Microstrategy and a number of other institutions since then.
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