More Than 11000 Bitcoins Moved to the Cold Storage by Several Institutions

In the past 13 hours, 11827 Bitcoins worth 671 million USD have been withdrawn from the coin base. The total amount has been transferred to the cold storage from the US-based crypto exchange. This data is provided by two of the major websites CryptoQuant and Whale Alert.

A CryptoQuant chart which was released by the CIO of Moskovski Capital has shown that investors from all over the world stock these Bitcoins for a very long time now. As suspected by the CIO of Moskovski Capital the institutional investors are planning to hold the 11.8k  Bitcoins to be specific for the long term.

Not more than a month ago, two major giants in the banking sector in the world, JP Morgan and Goldman Sachs, announced to offer cryptocurrency uses to their customers. This facility will only be available to customers having a high net worth. A customer of Goldman Sachs will be allowed to invest only 2.5 percent of the net worth. On the other hand, the analysts of JP Morgan have predicted that soon Ethereum will outperform Bitcoin in terms of users.

On 30th April 2021 Bitcoin reached 57000 USD from the level of 53000 USD to end the month of April on a high note. Earlier on the day, the cryptocurrency reached the mark of 58400 USD  level but it came down soon after. Currently, one Bitcoin is trading at a rate of 57659 USD on the Kraken Exchange.

Also Read: USA Restaurants Will Start Accepting Bitcoin for Payment