It seems most US institutions haven't sold any Bitcoin since their OTC deals.

For example, here are custody wallets from Coinbase outflows on Dec 23, 2020. No $BTC moved since then.

Remember, institutions like Tesla are with us. — link

12k $BTC flowed out from Coinbase again.

Institutions are still accumulating $BTC in this range. — link

Goldman Sachs crypto survey shows 22% of respondents expect $100,000 bitcoin — link

IMO ETH is the most under-owned liquid asset in crypto right now. Relative to BTC. Relative to Ethereum competitors. Relative to DeFi even. Everyone hates it because of the fees. But Ethereum *will* scale. And the upcoming upgrades will get the narrative going. — Qiao Wang

JPMorgan tells private wealth clients that bitcoin can be a portfolio diversifier 'if sized correctly' — link

Goldman Sachs has posted the results of a small survey on #Bitcoin:

- 40% have exposure to crypto
- 32% of respondents were asset managers
- 20% expect bitcoin to reach $100,000 within 12 months — link

MicroStrategy SEC filing a few minutes ago:

"On March 5, 2021, MicroStrategy announced that it had purchased approximately 205 bitcoins for $10.0 million in cash, at an average price of approximately $48,888 per bitcoin, inclusive of fees and expenses." — link

MicroStrategy has purchased an additional ~205 bitcoins for ~$10.0 million in cash at an average price of ~$48,888 per bitcoin. As of 3/5/2021, we hodl ~91,064 bitcoins acquired for ~$2.196 billion at an average price of ~$24,119 per bitcoin — Michael Saylor

Saylor bought the dip

Many ppl think they want to be successful but hate asking what the price is

Figure out the market price of what you want and boldly pay it

Price of fitness is discipline, sacrifice
Price of wealth is risk appetite
Price of life is to not fear death
Price of $BTC is $5m+ — link

There are only 1.48M #bitcoin left for sale. That's 38% less bitcoin for sale than there was a year ago. I don't think anyone is prepared for what's about to happen next — link

Bankless episode on ultrasound money coming up :) — link

Twitter CEO Jack Dorsey mints the first ever published tweet on Ethereum service Cent — link

Brokerage giant Charles Schwab with over $4 trillion in assets, is exploring the possibility of offering crypto trading by the end of this year — link

I hope another 100m people get into #Bitcoin before 100 big companies...

...but I don’t think the next 100m people will buy if 100 big companies don’t.

It’s a sad paradox — link

We think a lot about those black lines, forgetting that it’s all still in our hands. — Tim Urban

Who has been selling?

Apart from margin longs liquidating, my guess from the data, it's hedge funds rebalancing for end of Q1 reporting.

Many have mandates to rebalance when an allocation gets too big; BTC has outperformed incredibly. (Sell your winners, buy more losers). 👉 — show this thread

EIP 1559, one of the biggest changes to #Ethereum to date, will go live in July, core developers have decided. — link

The world’s first #Bitcoin exchange traded fund, Purpose Bitcoin ETF, has added 1,381 BTC over the past 7 days.

They now hold 11,445 BTC worth $557M, physically backed in cold storage. — link

*BIDEN'S $1.9 TRILLION STIMULUS BILL PASSED BY U.S. SENATE

Jack’s tweet is now going for $2 million