[Bitcoin Now] Large Investors Behind the Uptrend... MicroStrategy Surpasses 100,000 Bitcoin Holdings

From Late June to the 22nd of This Month, Large Investors Bought Approximately $10 Billion Worth of Bitcoin
MicroStrategy's Bitcoin Holdings Reach $2.918 Billion

[Asia Economy Reporter Gong Byung-sun] As the leading cryptocurrency Bitcoin remains in the 56 million KRW range, analysis suggests that the active market participation of large investors is the driving force behind the upward trend. In fact, MicroStrategy, the private company with the largest Bitcoin investment, is reported to hold over 100,000 Bitcoins.

According to the domestic cryptocurrency exchange Upbit, as of 2:33 PM on the 25th, Bitcoin recorded 56.6 million KRW, up 0.84% from the previous day. After rising to 58.72 million KRW on the 23rd, it has been consolidating. However, since the 20th, it has not fallen below the 55 million KRW level.

There is an analysis that institutional investors' buying momentum is the cause of Bitcoin's rise. On the 24th (local time), US economic media CNBC reported that large investors holding more than 50 million USD worth of Bitcoin have been increasing their purchases since the end of June. Philip Gradwell, Chief Researcher at cryptocurrency data analytics firm Chainalysis, explained, “Large investors have played a driving role in Bitcoin’s rise so far,” adding, “When they sold, Bitcoin prices fell.”

In fact, the scale of Bitcoin purchases by large investors has increased over the past two months. According to Chainalysis, from the end of June to the 22nd of this month, large-scale investors bought Bitcoin worth 10 billion USD (approximately 11.663 trillion KRW). Chainalysis analyzed that the Bitcoin holdings of large investors have recovered to the levels seen in February. Bitcoin surged from the 38 million KRW range in February to above the 60 million KRW level.

MicroStrategy has continued to accumulate Bitcoin. On the 24th, Michael Saylor, CEO of MicroStrategy, tweeted, “We purchased an additional 3,907 Bitcoins at an average price of 45,294 USD,” and stated, “As of the 23rd, MicroStrategy’s Bitcoin holdings total 108,992 Bitcoins with an average price of 26,769 USD, amounting to a total value of 2.918 billion USD.” On the same day, MicroStrategy filed documents with the US Securities and Exchange Commission (SEC) reporting the Bitcoin purchase.

This content was produced with the assistance of AI translation services.