HomeCryptocurrencyBitcoin holdings in Coinbase increased significantly

Bitcoin holdings in Coinbase increased significantly

Data shows that institutions on Coinbase Global Inc have significantly increased their Bitcoin holdings since the last quarter of 2020.

According to analysis by crypto data company CryptoQuant, institutions currently hold 1.4 million BTC on Coinbase. This figure means an increase of 296% in the last 15 months.

BTC price unlikely to drop below $20,000

This number of Bitcoin has increased significantly since the fourth quarter of 2020, when Coinbase had only 580,739 BTC in the name of institutions. However, the amount of BTC held in the last quarter, when Coinbase held 2.2 million BTC for such customers, decreased compared to previous periods.

However, according to CryptoQuant CEO Ki Young Ju, institutions’ BTC holdings are large enough to dispel fears that the digital asset could drop below $20,000. “Unless these 20′ and 21′ institutions are selling bitcoin, the price is unlikely to drop below $20,000,” he wrote on Twitter.

Source: finanztrends.de

Image Source: unsplash

Mehmet S. Kaya
Mehmet S. Kayahttps://teknonel.com
Mehmet is one of the administrator of Teknonel. As a software developer, he loves to share his knowledge in related topics. He is highly familiar with the editorial process from the inception of an article idea, through the iterative process, publishing, and performance analysis as well as product reviews.

Follow us on Social Media!


Related Articles

Twitter reportedly developing a cryptocurrency wallet System

Twitter continues to move toward Web3, and software developers say they are already testing an e-wallet based on the Web3 concept that Twitter users...

Binance’s BNB Chain bridge was hacked: $718 million lose is calculated

The BNB Chain developed by the cryptocurrency exchange Binance was hacked in the early morning of the 7th! The official cross-chain bridge (BSC Token...

Microstrategy is not afraid of bear market and buys 301 Bitcoins

Long-term optimistic about Bitcoin's micro-strategy, he entered the market again to buy 301 BTC, with a total investment of about 6 million US dollars,...

Hackers use Deepfake to impersonate Binance executives’ faces for cryptocurrency scams

A Binance executive pointed out that the hacker group used Deepfake (deep fake technology) to create an AI holographic projection like his face, and...

Explore More Articles

Proofing Your World 8 Best Strategies for Ultimate Technology Security-min

Proofing Your World: 8 Best Strategies for Ultimate Technology Security

Expanding the size of the attack surface inevitably amplifies the risk of cybersecurity breaches. Consequently, reducing the attack surface logically diminishes cybersecurity risk. It...
Starfield How to use Scanner-min

Starfield: How to use Scanner?

Scanner is a tool that you'll be needing a lot of in Starfield. It allows you to see which resources and materials a planet...
Starfield How to upgrade Ship Weapons-min

Starfield: How to upgrade Ship Weapons?

Within Starfield you can actually purchase upgrade or fully build your own spaceship via modules. The thing is that, a lot of this isn't...

Starfield: How to mine Chlorosilanes?

If you already used the workbench, you might have notice a recipe that requires a little resource called Chlorosilanes. And while tracking down elements,...