Public Companies Accumulate Bitcoin as Exchange Reserves Decline

Recent analysis from Fidelity Digital Assets reveals a significant trend: public companies are actively accumulating Bitcoin, leading to lower exchange reserves. The amount of Bitcoin held on exchanges has hit its lowest point in over six years, dropping below 2.6 million BTC since November 2018. This decline suggests a shift towards long-term investment rather than short-term trading. Fidelity attributes this trend primarily to public company purchases, with over 425,000 BTC moving off exchanges since then, according to the report.