The Bitcoin rally lost momentum in August, and the slowdown in business accumulation can explain why.
The monitoring entities followed added 47,718 BTC last month ($ 5.2 billion)more than 100,000 BTC in July, according to the last Bitcoin Treasuries adoption report. This brought total assets in public enterprises, private companies, governments and FNB to 3.68 million BTC, worth $ 400 billion at the end of the month. The monthly increase of 1.2% was much lower than 4.6% in July.
This relaxation in BTC acquisitions by corporate entities could offer an explanation for the BTC rally at $ 123,000 not supported. Bitcoin reached a summit of all time in mid-August, but dropped by 11.5% by the end of the month to stay below $ 109,000.
The slowdown came despite aggressive fundraising announcements. More than $ 15 billion in equity of equity have been described by cash companies, including the strategy (MSTR)Gently (Naka) and metaplanet (3350). These commitments have not yet translated as immediate purchases, leaving a gap between fundraising securities and the real market impact.
Even with the softer rhythm, August has experienced significant steps. According to the report.
Among sole proprietorships, the Knilymd health company made the second purchase of the month with a purchase of 5,744 BTC worth $ 679 million. Japanese metaplanet added 1,859 BTC in four different transactions.
Haussier crypto exchange (BLSH) Also joining the Treasury ranking after its IPO in August. The firm revealed that it has been held 24,000 BTC since March, worth 2.6 billion dollars at the end of August. The CEO, Tom Farley, described the company’s strategy as part of an institutional wave in progress, saying that CNBC “has the impression that institutional investors think it could be the moment”. The parent company of the Bulsh Global exchange is also the owner of Coindesk.
Despite these large -scale movements, the overall value of the treasury bonds followed increased from $ 428 billion in July to $ 400 billion in August while the Bitcoin price increased to $ 108,695 by the end of the month.
