On this Christmas Day, December 25, 2020, Bitcoin (BTC) gives us a gift: for the first time it has exceeded €20,000.
Never seen since the launch of this encryption system in 2009.
Bitcoin (BTC) exceeds €20,000 for the first time on Christmas Day.
Bitcoin (BTC) exceeds $24,500 or more than 20,000 euros.
Nothing stops Bitcoin (BTC), the king of cryptomoney saw its price exceed 20 000€ several times on December 25, 2020. Since the crossing of its former ATH (All Time High), its highest price, Crypto Method does not weaken. It is even the opposite!
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More and more companies are getting into Bitcoin
The number of new companies converting a portion of their cash into bitcoin is increasing. Mogo plans to allocate 1.5% of its assets to Bitcoin, manager SkyBridge launches a Bitcoin fund, MicroStrategy announces that it has purchased $650 million in Bitcoin .
According to the Bitcoin Treasuries site, about 30 companies have invested part of their funds in Bitcoin. And these are only the companies that have communicated publicly on this subject.
The number of purchases by institutional investors (companies, specialized funds…) seems to be increasing. According to an analysis by Ki Young Ju for CryptoQuant, the number of OTC (Over The Counter) deals, which are trades made outside the traditional channels, seems to be increasing via Coinbaise.
12,006 BTCs left Coinbase a few hours ago. As I said, they went into portfolios that appear to be custody. It seems that Coinbase generates a new cold wallet for each client after an OTC deal with an institutional.
Other analyses confirm a significant withdrawal of bitcoins on Coinbase and other trading platforms. Indeed, according to the Whale Exchange Ratio on Gemini calculated by CryptoQuant, the number of whales (large owners of bitcoins stored on the Gemini exchange) seems to be decreasing, which is a rather good sign. These large fish are removing their BTCs to conserve them over the long term.