The cryptocurrency industry is less than a week away from witnessing the third halving of the largest crypto, Bitcoin (BTC). As a result, Bitcoin buyers have begun increasing rapidly from both institutional and retail investors.
Interestingly, a little more than half of the total Bitcoin mined since 2020 has been accumulated by two prominent cryptocurrency companies alone. This arguably signals more purchasing power among the Bitcoin buyers, probably due to the upcoming halving event.
Grayscale and CashApp bought over 50 percent of BTC
Grayscale, digital currency investing services company and the digital payments application, CashApp consumed a little above 50 percent of total bitcoin since minted in the first quarter of this year. The data was tweeted by Alistair Milne, a crypto trader as well as investors.
Meanwhile, a similar report was also made by Marty Bent, an Editor in Chief for a Bitcoin newsletter. Bent tweeted a chart that showed the growing volume of Bitcoin on CashApp. Bent had disclosed sometime in February that people are ‘#stackingsats’ on CashApp.
Individual Bitcoin buyers kept growing
Among the many persons currently buying Bitcoin includes Jason A. Williams, the co-founder of an investment management company known as Morgan Creek Digital. Not just a Bitcoin buyer, Williams revealed on Twitter that he has been buying a lot of Bitcoin for days now.
Besides, the other founder of the investment company, Anthony Pompliano, has always revealed they’ve been investing more in Bitcoin, on behalf of their clients. The firm manages funds for many institutional investors.
Peter Schiff fumes at young BTC buyer
Recently, Williams disclosed helping a 12-year-old daughter to purchase Bitcoin. While many people considered it to be reasonable financial assistance, Peter Schiff does not think the action is worth it. In fact, he bashed Williams for helping his young daughter to become a Bitcoin buyer.