Bitcoin firms bought $1.2B last week, but BTC ETFs stole the show
Bitcoin-stacking companies bought over 6,700 BTC last week with the majority of the buying came from Japanese investment firm Metaplanet.
While Bitcoin treasury companies accumulated $1.2 billion in BTC last week, analysts suggest that Bitcoin’s new all-time high was more likely driven by inflows into Bitcoin exchange-traded funds.
Bitcoin went on to spike coming into the weekend, hitting a new all-time high of over $125,000 on Saturday.
Bitcoin (BTC) treasury companies purchased more than 6,702 coins over the week, led by Japanese investment firm Metaplanet, which added 5,258 Bitcoin on Oct. 1.
