{"id":127889,"date":"2025-04-24T16:17:08","date_gmt":"2025-04-24T16:17:08","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127889"},"modified":"2025-04-24T16:17:08","modified_gmt":"2025-04-24T16:17:08","slug":"bitcoin-supply-on-exchanges-is-falling-due-to-public-company-purchases-fidelity","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127889","title":{"rendered":"Bitcoin supply on exchanges is falling \u2018due to public company purchases\u2019 \u2014 Fidelity"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin reserves on cryptocurrency exchanges have dropped to their lowest level in more than six years, as publicly traded companies ramp up their accumulation of the digital asset following the US presidential election, according to Fidelity Digital Assets.\u00a0<br \/>\n\u201cWe have seen Bitcoin supply on exchanges dropping due to public company purchases \u2014 something we anticipate accelerating in the near future,\u201d Fidelity reported on the X social media platform.<br \/>\nSource: Fidelity Digital AssetsFidelity said the supply of Bitcoin (BTC) on exchanges had fallen to roughly 2.6 million BTC, the lowest since November 2018. More than 425,000 BTC have moved off exchanges since November, a trend often viewed as a signal of long-term investment rather than short-term trading.<br \/>\nOver the same period, publicly-traded companies acquired nearly 350,000 BTC, Fidelity said.<br \/>\nFidelity Digital Assets is a subsidiary of Fidelity Investments, the $5.8 trillion asset manager headquartered in Boston, Massachusetts. The Fidelity Digital subsidiary was established in 2018, long before cryptocurrency was considered an institutional asset class.\u00a0<br \/>\nFidelity is the issuer of the Fidelity Wise Origin Bitcoin Fund, one of the first 11 spot Bitcoin exchange-traded funds approved in the United States.<br \/>\nRelated: Bitcoin exchange buying is back as &#8216;Spoofy the Whale&#8217; lifts $90K asks<br \/>\nStrategy dominates public company purchases<br \/>\nWhile Fidelity noted significant corporate Bitcoin purchases, most of the accumulation has been driven by Strategy, the business intelligence firm-turned-Bitcoin bank co-founded by Michael Saylor.<br \/>\nSince November, Strategy has acquired 285,980 BTC, accounting for 81% of the approximately 350,000 BTC purchased by publicly traded companies.<br \/>\nA snapshot of some of Strategy\u2019s Bitcoin purchases over the past six months. Source: StrategyStrategy\u2019s latest purchase of 6,556 BTC was disclosed on April 21.\u00a0<br \/>\nOutside the United States, publicly traded companies in Asia have adopted a similar Bitcoin treasury strategy, with Japan\u2019s Metaplanet and Hong Kong\u2019s HK Asia Holdings increasing their Bitcoin allocations.\u00a0<br \/>\nMetaplanet currently holds 5,000 BTC, with CEO Simon Gerovich saying his goal is to double that amount this year.<br \/>\nMeanwhile, HK Asia Holdings announced plans to raise roughly $8.35 million to potentially increase its Bitcoin reserves.\u00a0<br \/>\nMagazine: Altcoin season to hit in Q2? Mantra\u2019s plan to win trust: Hodler\u2019s Digest, April 13 \u2013 19<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-supply-exchanges-falling-public-company-purchases-fidelity?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin reserves on cryptocurrency exchanges have dropped to their lowest level in more than six years, as publicly traded companies ramp up their accumulation of the digital asset&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127889"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127889"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127889\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127889"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}