This On-Chain Data Suggests Unannounced Companies are Accumulating Bitcoin

The crypto community was ablaze with joy after news broke regarding Square’s decision to buy Bitcoin to hold as a reserve asset This decision came about just months after MicroStrategy made a similar choice, albeit on a larger scale If this trend gains steam as the dollar continues seeing unprecedented inflation, it could be a catalyst for massive BTC upside The significance of this should not be understated, but data seems to indicate that Square may only be the “tip of the iceberg” On-chain data seems to suggest that a myriad of other large, unannounced investors (and possibly companies) are currently in full Bitcoin accumulation mode Bitcoin is currently expressing some notable signs of strength as its price pushes past the key resistance that exists within the lower-$11,000 region. It is important to note that the selling pressure here is quite intense and could lead to a drawback if bulls…

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