Firms Move Their Focus as Bitcoin’s Corporate Reserve Trend Eases

Main Idea
Mike Novogratz of Galaxy Digital notes that the trend of companies using Bitcoin as a treasury reserve has slowed, with significant outflows from US spot Bitcoin ETFs and large-scale Bitcoin sales by institutional clients.
Key Points
1. Mike Novogratz observed that the trend of companies using Bitcoin as a treasury reserve has peaked, though existing companies will continue to grow in the market.
2. Galaxy Digital facilitated a large-scale sale of 80,000 Bitcoins for an undisclosed client, which was quickly absorbed by institutional buyers.
3. US spot Bitcoin ETFs experienced outflows worth $1.2 billion, ending a longstanding net inflow streak, though they still hold 6.1% of the total Bitcoin supply.
4. Bitcoin prices declined by around 3% over the past week, trading at approximately $113,937.
5. Novogratz highlighted the ongoing presence and long-term potential of crypto assets in corporate treasury strategies despite recent market shifts.
Description
Companies using Bitcoin as a treasury reserve reach their peak. Existing firms continue growth, influencing long-term market potential. Continue Reading: Firms Move Their Focus as Bitcoin’s Corporate Reserve Trend Eases The post Firms Move Their Focus as Bitcoin’s Corporate Reserve Trend Eases appeared first on COINTURK NEWS .
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