Bitcoin (CRYPTO: BTC) is increasingly popular among corporate buyers, with on-chain data suggesting ongoing accumulation by other large entities.
What Happened: In a detailed X thread on Wedneday, research firm CryptoQuant pointed out that despite public companies accumulating 91,781 BTC in Q1, Bitcoin dropped 12%, from $94,400 to $82,500.
Tether emerged as a surprise buyer, adding 8,888 BTC, while Strategy (NASDAQ:MSTR) made the largest move, acquiring 81,785 BTC for more than $8 billion.
Other buyers included The Blockchain Company (+605 BTC), Semler Scientific Inc (NASDAQ:SMLR) (+1,108 BTC) and Metaplanet (+2,285 BTC) (OTC:MTPLF).
On-chain analytics shows more corporate buying could be on the horizon, with Marathon Digital (NASDAQ:MARA) planning a $2 billion stock sale …
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