Companies spent $1.2B on Bitcoin last week, but BTC ETFs stole the show
Bitcoin-stacking companies bought over 6,700 BTC last week, with the majority of the buying coming from Japanese investment firm Metaplanet.
Update Oct.6, 5:40 am UTC: This article has been updated to include information from Binance Australia General Manager Matt Poblocki.
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.